June 14, 2018
Newport Beach, CA-based Arrimus Capital Advisors sold out its first Delaware Statutory Trust offering, after raising $44 million for ACA Stadium View Student Housing DST. The DST offering, designed for 1031 exchange buyers, is comprised of Stadium View, a Class A, 197-unit student housing property adjacent to Iowa State University in Ames, IA.
Arrimus Capital purchased the 518-bed luxury property in December 2017. Stadium View is 99% occupied, and more than 80% pre-leased for the 2018-2019 academic year. It is located at 1206 So. Fourth St. near Jack Trice Stadium, where Iowa State’s college football team plays.
Arrimus Capital’s Chris Lee says, “Student housing has a unique ability to outperform other property types in a down market, which is a compelling feature given where we are in the cycle. Solid fundamentals, combined with proven performance of the asset class, have led to an infusion of institutional and international capital in the last few years, driving record transaction volume.”
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