Top 5 Metros for Student Housing Transactions
As Featured in "MHN"
Beata Lorincz, Multi-Housing News, 8 January 2024
RREAF Holdings' Rivers Edge at Carolina Stadium earned recognition in Multi-Housing News (MHN) for its prime location within the Student Housing Market space. Positioned near the University of Columbia and Benedict College, this asset effectively caters to the needs of the local student community. Continue reading to see what MHN said about one of RREAF's many student housing assets.
The Columbia market includes student housing communities serving the University of South Carolina-Columbia, South University-Columbia, Columbia International University and Benedict College. As of November, eight completed properties totaling 4,170 beds had changed hands, amounting to a transaction volume of $229.8 million. The market's total sales volume was down compared to the 506 million registered in the same period in 2022, but was higher than in 2021, when it reached roughly $125 million.
The average price per bed hit nearly $55,100 year-to-date, making Columbia the cheapest market on our list. Prices were significantly lower than in 2022 and 2021, when they averaged at $90,600 and $82,470 per bed, respectively. The average price per square foot was $134.
In March, RREAF Holdings LLC picked up the 486-bed Rivers Edge at Carolina Stadium in Columbia. The seller, RPM Living, purchased the property near the University of South Carolina in 2016 for $30.5 million.
We thank MHN for recognizing RREAF Holdings and its student housing asset, Rivers Edge at Carolina Stadium.
To read the full article visit "MHN"