Prix attendu Prix : Nous contacter
Revenu net Revenu net N/A
Taux de capitalisation N/A
Prix attendu Prix : Nous contacter
Revenu net Revenu net N/A
Taux de capitalisation N/A

Documents

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Caractéristiques

Année de construction 2006
Taille de la propriété
Number of units 280

Description de la propriété

Jones Lang LaSalle (JLL) has been exclusively retained to offer qualified investors the opportunity to purchase Campus Evolution Villages at Morgantown (CEV Morgantown), a 280-unit, 924-bed student housing community at West Virginia University. With enrollment nearing 27,000 for the 2020/2021 Academic Year, West Virginia University is a tier one university, the largest University in West Virginia and a part of the Big Twelve Conference. Built in 2006, CEV Morgantown recently changed management companies in March 2019, infused capital into the property’s exterior, and added back a campus shuttle which helped it lease up to 83% occupancy for the 2020/2021 Academic Year versus 67% for the 2018/2019 Academic Year. The property offers numerous additional value-add opportunities including renovating unit interiors, rebranding it and upgrading community amenities. As of August 2020, and per the Axiometrics University Report, CEV Morgantown’s rents are more than $130 below market, and occupancy trails other student properties by approximately 4%. This equates to a more than $1,450,000 in annual income to be realized by future owners.


Located on District Drive in the popular North campus area, CEV Morgantown is less than half a mile away from Campus and provides students direct access while undercutting on-campus product by a significant margin. Additionally, there are zero proposed student housing projects, yet there is still only capacity for just over 25% of enrollment based on current inventory.  CEV Morgantown gives potential buyers the opportunity to purchase a property that should continue to benefit going forward from improved management, concession burn-off as well as unit and amenity upgrades in a strengthening student housing market. 

Informations clés concernant l'investissement

  • Occupancy has benefitted from recent change in management but still lags behind market by ~4%
  • In-place rents are significantly below market average
  • The property features an impressive amenity package and one of the most coveted in the market
  • Located in the North Campus area with a direct bus route to West Virginia University with enrollment in excess of 26,500 students
Last Updated Date: 02 Nov 2020
Teddy Leatherman
Teddy Leatherman
Director, Capital Markets
Détenteur d'une licence en
TX-645273
Scott Clifton
Scott Clifton
Director, Capital Markets
Détenteur d'une licence en
IL-475.17091

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DÉCLARATION DE CONFIDENTIALITÉ 

Jones Lang LaSalle (JLL), ainsi que ses différentes filiales et entités, est une société internationale leader du conseil en immobilier d'entreprise. Nous prenons la responsabilité de protéger avec la plus grande rigueur les informations personnelles qui nous sont confiées. 

En règle générale, les informations que nous recueillons sur vous nous permettent de traiter ou de répondre à votre demande. 

Nous nous engageons à conserver les informations personnelles qui nous sont confiées, avec le niveau de sécurité approprié, et aussi longtemps que nous le jugerons nécessaire pour toute raison professionnelle ou légale. Nous supprimerons ensuite vos données de manière sûre et sécurisée. À tout moment, vous avez la possibilité d’affiner vos préférences en termes de communication et de vous désabonner. 

Pour plus d'informations sur la manière dont JLL traite vos données personnelles, veuillez consulter notre déclaration de confidentialité.

Last Updated Date: 02 Nov 2020

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