April 16, 2019
Opportunity Zones and their properties might conjure up visions of lower-income housing or retail establishment in and around urban cores. But, the program focuses on a variety of commercial real estate, in addition to housing and retail. According to Berkadia’s recent 2019 Student Housing Newsletter, 27% of student housing properties nationwide — 527 properties — are situated within Opportunity Zones.
The report pointed out that the top three universities with the largest number of assets include:
- University of Illinois at Urbana-Champaign (38 properties)
- Florida State University (36 properties)
- Georgia Southern University (21 properties)
The three universities, and the 95 assets tied to them, account for 13% of the total bed count among all assets in Opportunity Zones. The report also went on to say that five states represent the bulk of properties within Opportunity Zones, with Florida, Georgia, Illinois, North Carolina and Texas accounting for 46% of total assets. The assets are primarily in the Southeast Region, and are most likely to be situated less than a half-mile from the university or college, regardless of region.
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