Greystar Real Estate Partners and Rockpoint Group sold University View, a pedestrian student housing community adjacent to the University of Maryland for $235m. The buyer’s name was not disclosed. Comprised of two high-rise buildings with 9,218 sq ft of ground floor retail space, the property offers 1,573 beds in 507 units. The fully furnished apartments range from studios to four-bedroom units. Common amenities include two 24-hour fitness centers, individual and group study rooms, a game room with pool tables, ping-pong and TVs, a resort-style pool and sundeck with campus views and Zipcars. “The acquisition, investment in, and sale of University View exemplify the power of Greystar’s value-add strategy,” said Kevin Kaberna, executive director and leader of Greystar’s US investment platform. “We were able to perform considerable interior upgrades while maintaining affordable rents for students, allowing us to produce a best-in-class property for the university community and significantly capitalize on our investment.”
