April 6, 2020
MultiVersity Housing Partners is debuting in Pittsburgh with the acquisition of Union on 5th, nearby the campus of Duquesne University and less than two miles from the University of Pittsburgh. MultiVersity Property Management (MVPM) will oversee management of the Class-A student apartment property, along with all planned property improvements.
Union on 5th was converted into loft student apartments in 2016, and is comprised of two-bedroom and three-bedroom units. The property is 98% leased for the 2019-2020 term.
As part of the property improvements, MVPM will redesign the lobby, relocate the office and leasing area, add study space, renovate the hallways, add Luxer One package lockers, and construct additional beds.
“We are excited to enter the Pittsburgh market, as Pittsburgh is home to our Operations team and office,” said MultiVersity principal Anthony Magnelli. “We look forward to building a large presence in Pittsburgh, and the evolving uptown neighborhood in particular.”
For comments, questions or concerns, please contact Paul Bubny