CHICAGO – HFF announced today that it has been named to market for sale Level 27 Apartments, a 216-unit/756-bedroom, Class A student housing community serving Miami University in Oxford, Ohio.
HFF is marketing the property on behalf of the seller, Blue Vista Capital Management, LLC. The property is expected to trade near $30 million and may be purchased free and clear of existing debt.
Completed in 2007, Level 27 Apartments has three and four-bedroom, fully furnished units averaging 1,603 square feet each. Community amenities include a resort-style salt water swimming pool, three hot tubs, fitness center, tanning bed, movie theatre, computer lab, basketball and sand volleyball courts, and game room with pool table, foosball and flat screen tv. The property is located at 3770 Southpointe Parkway just south of campus, and is 98 percent leased for the 2013-2014 academic year.
The HFF investment sales team representing the seller is led by managing directors Brian Kelly and Troy Manson.
“Level 27 Apartments is one of only three purpose-built communities serving students in Oxford and beats the competition on almost every level with superior unit and community amenity offerings,” said Kelly. “Miami University of Ohio is one of America’s eight ‘public Ivies’ and boasted a 2012 enrollment of nearly 17,000 students ensuring demand for student housing options for the foreseeable future.”
Blue Vista Capital Management, LLC creates and deploys niche investment strategies to co-invest with successful real estate investors and developers.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.