Located in the idyllic New River Valley between the Blue Ridge and Allegheny Mountains, the Radford University Student Housing Portfolio consists of 214 units and 730 beds spread throughout 27 buildings bordering the campus. The undeniable value of this investment lies in the combination of irreplaceable location, a high-quality product, and a clear path toward further success by improving marketing efforts and operational efficiency. The property was acquired at a total purchase price of $36,100,000.
The Radford University Student Housing Portfolio can barely be considered off-campus housing given its supreme locations surrounding academic buildings and student life. The proximity of units affords residents an easy walk to classes and activities, while other competitors require shuttle services and cars to commute to campus.
The most recent owner’s thoughtful care for the assets is evident in each of the 27 buildings built between 1968 and 2008. The excellent exterior and interior condition of the units is consistent throughout the portfolio, with improvements and renovations added as needed. These include stainless-steel appliances, granite countertops, and updated cabinetry.
The occupancy at time of purchase was 81%.