November 27, 2018
Less than two years after acquiring the 1,573-bed University View, Greystar Real Estate Partners LLC and Rockpoint Group sold the student housing complex in College Park, MD to an unidentified buyer for $235 million. The $235-million sale is the largest single-asset student housing trade in the United States.
CBRE’s Jaclyn Fitts, William Vonderfecht and Casey Schaefer represented Rockpoint Group and Greystar, in partnership with Washington D.C. Multifamily’s William S. Roohan and Michael Muldowney.
University View, at 8204 Baltimore Ave., houses students attending the University of Maryland. The 507-unit property consists of two high-rise buildings with 9,218 square feet of retail space. Amenities include individual and group study rooms, media lounges, a game room, resort-style pool, enclosed bike storage and repair station and social events for residents.
The sellers made significant capital upgrades to the property, which included unit and common area renovations.
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