VA Student Community Selects New Management

Chain Bridge Capital recently purchased the 816-bed, 228-unit property located approximately two miles northeast of James Madison University’s campus.

North 38 in Harrisonburg, Va.
North 38 in Harrisonburg, Va.

Chain Bridge Capital has chosen Asset Campus Housing to manage its recently acquired student housing community in Harrisonburg, Va. The owner picked up the asset from JMG Realty in late December of 2017 for $27.9 million, according to public records from the City of Harrisonburg.

Located at 1190 Meridian Circle, the 19-building student community opened in 2009 and is situated near Interstate 81, two miles northeast of James Madison University. The university is accessible via a dedicated private shuttle and nearby bus stops operated by the city.

The property contains a mix of three- and four-bedroom apartments, ranging in size from 1,146 to 1,433 square feet. Each unit contains washers, dryers and a private balcony or terrace. Community amenities include a resort-style swimming pool, a 24-hour fitness center, a clubhouse, a tanning center, study rooms, a pool table and a coffee bar. Garage parking spaces are also available for an extra charge.

Image courtesy of CBRE