HFF Named to Market Sale of Blue Vista’s Level 27 Student Housing Community Near Miami University
- Sep 11, 2013
Oxford, Ohio—Blue Vista Capital Management LLC has named Holliday Fenoglio Fowler LP (HFF) to market the sale of its Oxford, Ohio, student housing community, Level 27.
The 216-unit, 756-bedroom community, which serves the student population of nearby Miami University, is expected to sell around the $30 million mark and will be able to be purchased without any existing debt.
“Level 27 Apartments is one of the only three purpose-built communities serving students in Oxford and beats the competition on almost every level with superior unit and community amenity offerings,” says HFF Managing Director Brian Kelly, who works out of the company’s Chicago office.
Kelly, along with HFF Managing Director Troy Manson are leading the HFF investment sales team that will represent the seller.
In addition to its three- and four-bedroom, fully-furnished floor plans that offer an average of 1,603 square feet of living space each, Level 27 offers a range of desirable amenities including a salt water pool, three hot tubs, a 24-hour fitness center, tanning bed, private movie theater, basketball and sand volleyball courts, and a 24-hour computer lab.
The community, which was completed in 2007 and is located on Southpointe Parkway south of the MU campus, has leased 98 percent of its rooms for the 2013-2014 collegiate year.
“Miami University of Ohio is one of America’s eight ‘public Ivies’ and boasted a 2012 enrollment of nearly 17,000 students ensuring demand for student housing options for the foreseeable future,” Kelly says.