Saturday, November 22, 2014

MHA Brokers Sale of Tuscaloosa, AL Apartment Community


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.”

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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