SOUTH BEND, IN—Student housing continues to be one of the nation's hottest sectors, with many investors eager to enter this lucrative business. Prime Property Investors, Ltd. of Northbrook, IL, has just sold Clover Ridge and Clover Village, two student housing communities in South Bend, IN, near Notre Dame University, to Glenmont Capital Management, a New York-based real estate private equity fund manager.
As reported in GlobeSt.com, earlier this year PPI sold off a group of student housing communities it had owned for roughly a decade near Purdue University in nearby West Lafayette, IN, for $47.2 million, a 44% return on its original investment.
This new transaction was completed by officials from Berkadia, including managing director of student housing Kevin Larimer, managing director Rick Vidrio, senior director Jason Krug, associate director of student housing Greg Gonzalez and senior director David Gaines.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
