Overview

Description

Capital Commercial Partners is pleased to bring to the market this 7 property – 257 bed student housing portfolio located just off Bloomsburg University campus in Bloomsburg, PA. The investment offers an unprecedented opportunity to control a large number of beds in a market with smaller properties/competition.

The properties boast an unheard of near 100% historical occupancy and collection with additional income from attached commercial units and 200+/- parking spaces. There are many new/upgraded units containing granite countertops, hardwood flooring, ceramic tile, up to 86” TV’s, washer/dryers, dishwashers and high speed internet. * Included FF&E of $250,000

The investment offers an out of market new ownership group with enough beds for an operational economy of scale.

The properties are located around one another and have shuttle service to classes. They are surrounded by shopping, grocery,and restaurants in the downtown area. Approximately 3 miles away Geisinger Heath Systems recently purchased 72.5 acres adjoining Columbia Mall for $17M to develop a $500-$600M new hospital, orthopedic surgery center, assisted living, welcome center, and parking garage demonstrating strong growth in the area.

Bloomsburg is strategically located at the crossroads of I-80 and Route 42.. It is close in proximity to Bloomsburg University with a student enrollment of approximately 9,900+ students. Bloomsburg U has a storied history being founded in 1839. It’s the 3rd largest of the 14 universities in Pennsylvania. It made the list of top universities in the northern region according to U.S. News and World Reports annual rankings.

Highlights

• 7 fully furnished luxury student housing properties
• 257 beds providing operational economy of scale
• 10 year near 100% historical occupancy and rent collection
• First time on market; retiring long-time ownership
• Includes income from 200+/- parking spaces
• Newer buildout requiring less maintenance

Documents

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