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Campus Apartments Invests $50M for Three Properties

PHILADELPHIA-The properties include a warehouse rehab in Bethlehem, the repositioning of a conventional multifamily complex in Glassboro, NJ and completion of a stalled 27-acre complex in Durham, NC. They aggregate 609 student housing units.

By Marita Thomas | Updated on June 17, 2005

(To read more on the multifamily market, click here.)

PHILADELPHIA-Campus Apartments Inc. acquired three student housing developments located in Pennsylvania, New Jersey and North Carolina for an aggregate investment of approximately $50 million. They encompass 1,600 beds in 609 units.

David Adelman, president and CEO of the locally based student housing specialist, tells GlobeSt.com that each of the facilities represents a different pillar in the company’s business strategy. They are rehabbing historical properties, repositioning conventional apartment buildings as university housing and new development.

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