Project Results: Property opened for fall 2009 at 75% occupancy. Achieved 100% occupancy fall 2010. Successful exit fall 2010 with a purchase price of $43 million, a realized capital gain of approximately $7.3 million, and an equity multiple of 1.8x.
- Role: Design consulting, market analysis/feasibility, initial operations/lease-up, property management
- Location: Lexington, KY (University of Kentucky)
- Open: August 2009
- Total Cost: $35.7 million
- Equity: $8.9 million
- Beds: 740
- Strategy: Purpose Built Development