Barings JV Acquires Kentucky Student Housing
Serving the University of Kentucky, the community includes more than 1,000 beds.
A joint venture between Barings and Article Student Living has acquired 5 Twenty Four and 5 Twenty Five Angliana, a 376-unit, 1,060-bed student housing property in Lexington, Ken., serving the University of Kentucky. LivCor was the previous owner, according to Yardi Matrix information.
The news comes on the heels of Article Student Living’s refinancing of another student housing community in Reno, Nev. Dubbed HERE Reno, that property features 182 units and 636 beds and came online in 2022.
Located at 524 & 525 Angliana Ave., the property is within walking distance of the University of Kentucky at Lexington campus and the city’s downtown.
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The new ownership plans to renovate the amenity space and unit interiors. Completed in two phases between 2008 and 2012, the community encompasses 11 two- and three-story buildings spread across almost 18 acres.
The unit mix consist of one-, two- and four-bedroom floorplans ranging from 650 to 1,454 square feet. The fully furnished apartments have washers and dryers, with select layouts also featuring electric fireplaces.
Common-area amenities include a fitness center, basketball court, business center and two swimming pools with sundecks. The community also has an outdoor fireplace, recreation center with billiards and ping pong, private study rooms and study lounges.
Preleasing increases at the University of Kentucky
The University of Kentucky market had 7,132 student beds completed as of January, according to the latest Yardi Matrix student housing report. As of the same month, the school reached a 74.8 percent preleasing rate, up 8.3 percent year-over-year.
Last month, GMH Communities acquired The Stretch, a 170-unit, 533-bed student housing asset serving the university. That property is less than 2 miles from 5 Twenty Four and 5 Twenty Five Angliana.
