Waypoint Residential Buys 194-Bed GA Community
The 146-unit student housing property serves those attending Mercer University and includes 12,000 square feet of retail and a 3,800-square-foot clubhouse.
The Lofts at College Hill
After purchasing two student housing properties totaling 1,344 beds, Waypoint Residential has acquired The Lofts at College Hill, a 194-bed community located in Macon, Ga. Sierra Development developed the property.
Located at 1345 Hardeman Ave. serving students attending Mercer University, the mixed-used project is the only off-campus student housing that serves the university. Built in 2015, the four-story community features 146 one- and two-bedroom units, as well as approximately 12,000 square feet of retail space and a 3,800-square-foot clubhouse. Other property amenities include:
- fitness center
- outdoor area with firepit
- rooftop terrace
- study rooms
- cyber café
- billiard bar
- recreation room
“This acquisition has many of the key drivers that we look for in a student housing investment, including a market with a favorable supply profile, as well as a university with sustained enrollment growth and a robust, NCAA Division I athletic program,” Jeremy Pemberton, CAO of Waypoint Residential, said in prepared remarks.
Image via Google Street View
