TSB Realty Arranges Sale of Buffalo-Area Student Housing
The 192-unit property, located near the University at Buffalo, was built in 2016 and comprises more than 600 beds. The buyer is a Chinese private equity fund.
TSB Realty has arranged the sale of Twenty 91 North, a 192-unit student housing community in Amherst, N.Y. China-based private equity fund OC Ventures purchased the asset from University Student Living and Harrison Street Real Estate. The deal comes after Harrison Street announced in February that it is partnering with Crossland Property Group to develop several student housing projects in the United Kingdom.
Twenty 91 North, located at 100 Herron Drive, near the University at Buffalo, was built in 2016 and comprises more than 600 beds. Interior amenities include private bedrooms, bathrooms, plank-style flooring, sleek kitchen cabinetry, breakfast bar, walk-in closets, washers and dryers. Common-area facilities include:
- resort-style pool
- pool table
- ping pong table
- study lounge
- computer lab
- fitness center
- private shuttle service
The property offers easy access to Staff Sergeant William R. Wilson III Memorial Highway, Youngman Memorial Highway and Niagara Falls Boulevard. Alexander Estates, Colonie Apartments, Charter Oaks Condominium, Newman Center and Creekside Village are all located nearby.
“Twenty 91 North provided OC Ventures with the opportunity to own the premier student housing asset in the University at Buffalo market while continuing to execute their student housing acquisition strategy targeting specific markets across the East Coast,” said Randall Calvert, executive managing director or TSB Realty, in prepared remarks.
Photo via Google Maps