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$30M PA Student Housing Changes Hands

KUTZTOWN, PA-The 184-unit asset, by the university here, traded to private-equity firm BET Investments in a deal brokered by NothMarq.

By Ian Ritter | Updated on March 09, 2011

KUTZTOWN, PA-A student-housing community here near Kutztown University got snapped up by an affiliate of private-equity BET Investments firm for $30 million. The developer, Apex at Kutztown, LP, which built the facility in 2008, sold the asset in a deal brokered by NorthMarq.

The asset has 184 units and 552 beds and includes a fitness center, clubhouse and other ammenities. Kutztown University, which plans to renovate and construct new buildings on campus through 2014, has about 1,100 students.

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