Looking for Success Rebranding Student Housing
- Jan 07, 2015
Dallas—Development, acquisition and management firm Inland American Communities (IAC) has purchased Asbury Green, a property serving University of Denver students, and is rebranding the community as University House.
Most of IAC’s communities are marketed under the nationally recognized University House brand, which has under its banner more than 10,000 beds within 20 communities dotting 13 states.
A five-story LEED Gold-certified apartment property, University House is conveniently situated on University Boulevard’s east side, one block from the 125-acre University of Denver campus in Denver.
The community is located in the hub of the area’s retail district, within the Observatory Park community. That upscale neighborhood, known for quiet, tree-lined residential streets and historic houses, offers most of the university’s off-campus housing.
Dallas-based IAC, which focuses on creating authentic communities in university markets across the United States, was represented in the purchase by CBRE. The transaction closed for an undisclosed amount.
One of the only properties specifically created to address student housing needs near campus, University House offers 355 beds in 171 fully-furnished studio, and one-, two-, three- and four-bedroom floor plans.
Among its recently updated amenities are a clubhouse with large flat-screen TV and fireplace, recreation center, billiards game room and 24-hour fitness center. Free tanning is offered to residents, who can also enjoy a computer center and study lounges, private conference rooms, new cabling and Internet system, and an outdoor courtyard with lounge seating, dining areas, grills and a fire pit.
“With a growing number of students attending the University of Denver, we saw the purchase of Asbury Green as a strategic acquisition in our growing portfolio,” says IAC president Travis Roberts. “The proximity to campus also suits our philosophy of developing and acquiring properties that are within walking distance to a university campus.”