CBRE Secures Sale of 1,720-Bed Student Housing Portfolio

The four properties serve students attending the University of Wisconsin, Auburn University and Florida State University.

The Power Conference Portfolio
The Power Conference Portfolio

CBRE National Student Housing secured the sale of The Power Conference Portfolio comprising four properties totaling 1,720 beds. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE worked on behalf of the seller—M&A Real Estate Partners. The buyer was Centurion US Student Housing Fund, a new entity managed by Centurion Student Investment Management.

The portfolio includes four properties: The Towers on State, Statesider, Logan Square and Tenn Street. Located at 502 N. Frances St. in Madison, Wis., just one block from the University of Wisconsin’s campus, The Towers on State offers 231 beds and features in-unit amenities such as granite countertops, free Wi-Fi and washer/dryer units in select apartments. Common area amenities include:

  • business center
  • study area
  • shuffleboard
  • video game room
  • fitness center

The 226-bed Statesider is a luxury community in Madison serving the students studying at the University of Wisconsin. Built in 1964, the property offers access to various restaurants, entertainment, nightlife and shopping venues. Common area amenities include:

  • fitness center
  • coffee bar
  • business center
  • on-site laundry
  • Wi-Fi
  • free tutoring

Logan Square is a 639-bed community housing Auburn University students. Located at 733 W. Glenn Ave., in Auburn, Ala., the asset features one-, two- and three-bedroom units ranging in size from 536 to 1,402 square feet. The pet-friendly property offers common facilities such as:

  • Wi-Fi
  • storage units
  • fireplace
  • air conditioning
  • fitness center
  • swimming pool
  • basketball court
  • volleyball court
  • walking/biking trails

Located at 600 Dixie Drive, in Tallahassee, Fla., Tenn Street is a 624-bed community serving students attending at the Florida State University. Built in 2001, the property includes four-bedroom units offering full-size washer/dryer, private baths, air conditioning and walk-in closets. Common amenities count:

  • 24-hour fitness center
  • 24-hour computer lab
  • business center
  • clubhouse
  • lounge
  • coffee bar
  • outdoor sundeck
  • grilling/picnic area

“The Power Conference Portfolio represented an outstanding opportunity for Centurion to enter the U.S. student housing market with assets located at prime Power 5 conference universities,” Jaclyn Fitts, director of CBRE National Student Housing, said in a prepared statement. “With an average enrollment of nearly 40,000 across the three universities, and an exceptional capture rate of 1.5 percent, the investment community was attracted to the strong markets and ability to execute additional value-add.”

Image courtesy of CBRE National Student Housing