Homestead U Closes Acquisitions in Tucson and Lubbock

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– New Projects add 1,649 Beds to Growing Student Housing Portfolio –

Columbus, OH (October 5, 2012) – Continuing their expansion into off-campus student housing, Homestead U (HU) and equity partners Columbus Pacific Properties (CPP) has finalized the acquisition of two additional student housing projects; NorthPointe Student Apartments in Tucson, Arizona and The Reserve on Frankford in Lubbock, Texas for $45.25 million. Continue Reading →

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Homestead U Acquires Riverpark Towers and River's Edge in Athens, Ohio

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– New amenities and updates will add a modern touch to OU’s landmark apartment complex –

ATHENS (July 20, 2012) – Continuing their expansion into off-campus student housing, Homestead U (HU) and equity partners Columbus Pacific Properties (CPP) has finalized the acquisition of Riverpark Towers and River’s Edge, 528 units and 1,020 beds located on the South Green of Ohio University in Athens, Ohio for $38.5 million.

The purchase of Riverpark Towers and River’s Edge is the company’s first venture at Ohio University, and will emulate its sister property University Village, 1008 units located 2 miles from The Ohio State University campus. HU’s strategy is to offer students affordable apartment homes while providing a fun, upbeat, social experience in a clean, convenient environment. Continue Reading →

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Homestead U Acquires University Village

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– Company’s first venture into off-campus student housing –

 

Columbus, OH (August 10, 2011) Homestead U (HU) and equity partners Columbus Pacific Properties (CPP) purchased University Village Student Apartments, a 1,008 unit, 1,856 bed, class “B” property for $54.5 million.  University Village is located in Columbus, Ohio and within walking distance of The Ohio State University.

 

The property, built from 1959-1965 is 99.9% occupied and was purchased well below replacement cost.  HU’s intention is to steadily increase rents to reflect the demand in OSU’s student housing market. In addition to the necessary capital improvements, University Village will undergo a renovation of the leasing office, models, and fitness center.
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