HUNTINGTON, WV – Capital Commercial Partners has negotiated the sale of a 325 bed student housing portfolio in Huntington. The sales price of $12,080,000 represents a price of $37,169 per bed.
Richard Geisenfeld and Elliot Schneier, the firm’s managing partners along with Joseph McDonie; manager of the firms West Virginia office in Huntington, represented multiple sellers in the transaction.
The portfolio consisted of more than 16 properties surrounding the Marshall University campus and offers one- and two- bedroom units. The buildings vary in age and quality but boast an impressive occupancy history.
“During this turbulent time in the market, we were still able to arrange numerous financing options for the buyer who financed the deal with a new loan at 75% LTV, 30 year amortization, and 10 year term,” Schneier comments. “This transaction is another example of our ability to import capital from the around the country.” Geisenfeld added.
Capital Commercial Partners has closed in excess of $750,000,000 in real estate investment transactions across the U.S. They currently have offices in Ohio and West Virginia. The firm’s website http://www.nnn1.com/ is a national commercial real estate marketplace.
Ohio-based Capital Commercial Partners specializes in real estate investment brokerage throughout the US. The company has a powerful marketing system for investment properties and combines product specialization; market expertise; state-of-the-art technology and established relationships with the largest pool of qualified investors globally.
http://www.nnn1.com/
Press Contact: Shelley Kaplan, Communications Department, (937) 241-5522
http://www.nnn1.com/
Press Contact: Shelley Kaplan, Communications Department, (937) 241-5522
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