DEAL OF THE DAY: Prime Property Investors Acquires Student Housing Near Notre Dame for Over $10M
- Jun 10, 2008
By Anuradha Kher, Online News EditorSouth Bend, Ind.–Prime Property Investors Ltd. recently completed the acquisition of Clover Ridge Apartments, a 100 percent occupied student housing complex located in South Bend, Ind., for $ 10,250,000.The multi-building complex is situated within three blocks of the main campus of the University of Notre Dame and features one-, two- and three-bedroom apartments, ranging in rent from $795 to $1,250. The Clover Ridge Apartments community amenities include a swimming pool, clubhouse, fitness room, tanning bed, basketball court, tennis court and sand volleyball court. The property is spread across eight acres of land and offers on-site parking.The acquisition marks Prime’s continued expansion of its nationwide student housing property portfolio and is the company’s first entry into the University of Notre Dame student housing market.With Clover Ridge in its portfolio, Prime becomes one of the largest close-to-campus property owners at Notre Dame. In its goal to grow its student housing properties nationwide, Prime plans future acquisitions at the Notre Dame campus and at other major university towns throughout the country.