CHICAGO-A joint venture partnership comprised of GEM Realty Capital Inc. and Schenk Realty Inc. has decided to sell eight student housing communities totaling 2,461 units and 4,057 beds. Located near six large and growing state universities, the portfolio is being marketed by Kevin Larimer, national director of student housing for Hendricks & Partners.
The portfolio has been listed without an asking price, and Larimer declined to discuss the value of the portfolio. However, student housing experts estimate the portfolio is worth roughly $250 million.
“Our preference is to sell the properties as a portfolio, but at the same time, we’re open to offers on individual assets,” Larimer says.
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