Carnegie Mellon University acquired Fifth Neville, a 78-unit apartment building in Pittsburgh, Pennsylvania, for $17m. Located less than a mile north of the CMU campus, the seven-story building offers a mix of studios as well as one- and two-bedroom units, with floor plans ranging from 308 to 835 sq ft. On-site amenities include a business center, laundry facilities and off-street parking. Purchased from a private investor, the asset changed hands for just under $217,950 per unit. The university plans to renovate the building and repurpose it as dedicated student housing.
