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| University Village Student Apartments, Tuscaloosa, AL |
BIRMINGHAM, AL — Multi Housing Advisors (MHA) has arranged
the sale of University Village, a 456-unit, 1,164 bed purpose built
student apartment community in Tuscaloosa that serves the University of Alabama
and Shelton State.
Jimmy Adams
and Brian Savage of MHA’s Birmingham, Alabama, office represented the
seller, BP Building & Land Co. LLC, in the transaction.
“With college enrollment growing every year, off-campus
student housing has been a hot market for investors,” Adams said. “The property
is very well occupied, and is likely to remain so for years to come.”
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| Jimmy Adams |
CEV Tuscaloosa LP, a Campus Evolution affiliate, acquired
the 35-acre property, located at 800 31st Street.
University Village was built
between 2006 and 2009. Amenities include eight resort-style pools, two tennis
courts, tanning salon, a running track, putting green, computer lounge, fitness
center, car wash, sand volleyball court, game room and a multi-media theater.
“The timing for the acquisition of this asset is excellent,”
Savage said. “With the adoption of changes aimed at restricting new large scale
student housing developments in this market, along with the continued expansion
and increased enrollment at UA, the outlook for this property and the others in
Tuscaloosa should be bright.”
For a complete
copy of the company’s news release, please contact:
Stephen Ursery
The Wilbert Group
404-549-7150 (O) 404-405-2354 (C)
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