The seller was a local family that had owned the property for more than 25 years. The price per unit works out to $112,069, and $42,345 per bed.
"This collection of garden apartments and mid-rise buildings had long been the most desired off-campus housing available to the Syracuse University students," says David E. Salmonson, president of the firm he founded just a year ago. "The portfolio's location and quality are superior to the competitions. The properties have been extremely well maintained by previous ownership."
Salmanson plans to upgrade the units' kitchens and baths, and add shared amenities such as a gym, lounge and game room.
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