Transwestern Brokers Sale of 552-Bed Student Housing Community
- Jun 02, 2021
Hamilton Point Investments has purchased The Den, a 552-bed student housing community in Columbia, Mo. Transwestern Real Estate Services brokered the transaction on behalf of the seller.
Located at 1412 Grindstone Plaza Drive, the 158-unit property serves students enrolled at the University of Missouri. The community features two- and four-bedroom floorplans with an average unit size of 1,248 square feet.
Completed in 2014, The Den encompasses four buildings on 9.6 acres. Community amenities include a heated saltwater pool with a sundeck, a clubhouse, conference rooms, outdoor entertainment spaces and sports areas.
The Den is 2 miles from University of Missouri’s south campus and approximately a mile south of Grindstone Nature Area, Water’s Moss Memorial Wildlife Area and Lost Hill. In addition, the community is situated roughly 3.5 miles southwest of The Domain, another student housing community serving University of Missouri students. The asset was recently acquired by a joint venture of Vesper Holdings and Fortress Investment Group.
Transwestern’s Southeast Investment Sales team included Senior Managing Directors Mike McGaughy and Jon Kleinberg, with Balke Brown Transwestern’s COO Mike Donovan joining the lineup.
According to McGaughy, The Den was 93 percent occupied and with a higher preleasing percentage compared to last year’s figures at the time of the purchase.
Last October, the same Transwestern brokerage team represented Aspen Square Management during the sale of The Lake House at Martin’s Landing, a 300-unit garden-style community in Roswell, Ga. The buyer was 29th Street Capital.