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GMH Pays $28M for GrandMarc

MINNEAPOLIS-GrandMarc has 183 units and 14,000 sf of commercial space and serves students at the University of Minnesota. College Park Communities, GMH's student housing division, has now made nine student housing acquisitions this year totaling $199.5 million.

By Jim McCartney | Updated on April 12, 2005

MINNEAPOLIS-College Park Communities, the student housing division of GMH Communities Trust, disclosed Tuesday that it bought the GrandMarc at Seven Corners, a 183-unit student housing property on the west bank of the University of Minnesota’s Twin Cities campus, for about $28 million. The GrandMarc at Seven Corners also includes about approximately 14,000 sf of commercial space.

The class A student housing property is located across the street from the University of Minnesota Law School and Carlson School of Management and has 370 beds, the company says. The deal fits the growth plans of the College Park Communities, which is based in Newtown Square, PA.

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