Student housing has strongest sales year yet in the Midwest

Posted on December 20, 2016

From 2013 through the end of 2016, the Midwest will have seen 111 sales in the student-housing market. And those sales will have generated more than $3 billion in total sales volume, according to data from Triad Real Estate Partners.


Triad says that 26 of these sales will have occurred in 2016, and that these student-housing sales will result in more than $1.046 billion in sales volume.
How strong is that? Triad says that 2016 will replace 2015 as the busiest year ever in terms of total student-housing sales in the Midwest.

Student housing has become a sought-after investment type. Triad reported several major transactions in this space in the Midwest alone. The 481-bed University Mills in at the University of Northern Iowa sold for $16.4 million, while the Wolf River Portfolio of 195 beds sold for $15.2 million at Michigan State University.

At Western Illinois University, the 639-bed Campus Pointe and Campus Manor student-housing developments sold for $22.9 million. At Michigan State University again, the 342-bed Hunters Ridge Apartments sold for $14.3 million.