Berkadia Leads Sale of 192-Bed Kansas Community
The company arranged the $6.9 million sale on behalf of the seller. The 84-unit student housing property services Butler Community College.
By Adina Marcut
Berkadia secured the sale of The Villas at BCC, an 84-unit student housing community located adjacent to Butler Community College in El Dorado, Kan. According to data provider Yardi Matrix, Bluffstone sold the asset for $6.9 million to T-Town LLC.
Located at 700 S. Haverhill Road, the 192-bed community is situated 25 miles northeast of Wichita. El Dorado State Park and McConnell Air Force Base are also nearby. Built in 2012, The Villas at BCC consists of two, three-story buildings offering two- and four-bedroom units ranging in size from 549 to 900 square feet.
Common area amenities include:
- 24-hour fitness center
- business center
- laundry facilities
- volleyball court
- basketball court
- study room
- TV lounge
- barbecue grills
“Although the El Dorado market is smaller, relatively and given the two-year nature of the community college, there was absolutely no shortage of interest in the offering,” Brett Meinzer, said in a statement. “The offering attracted both student and conventional groups across the region and nation.”
The seller was represented by Michael Sullivan, Brett Meinzer and Grant Kollman of Berkadia’s Kansas City investment sales team along with Alex Blagojevich of the Chicago office.
Image courtesy of Yardi Matrix