Furthermore, Triad has been retained to sell Grant Street and South Street Station, two student housing properties totaling 364 beds within walking distance to the Purdue University campus. Both were purpose built for students between 2013 and 2015. They are trophy assets that boast best in market locations at Purdue. The trophy assets are within two blocks of the main campus and already 100% pre-leased for the 2016-17 school year.

A family investment group in Indianapolis developed these properties, both of which are managed by Granite Student Living. There is a large street level vacant space where the new owner could add value by leasing the space or more likely converting to additional apartment units.

“We'll know by October or so how the year is going to look,” Tobias adds. “We saw a flurry of activity very early this year in January and February and then a bit of a lull, Q3 will be make or break for 2016.”

CHICAGO—It's that time of year again. Students are headed back to class, and as they stream back into the nation's university towns, investors inevitably start to think about all that well-leased campus housing. Triad Real Estate Partners has become an important player in this rising sector, especially in the Midwest, and in addition to handling the recent sale of two regional student housing assets, the Chicago-based company has been retained to sell another two class A properties at Purdue University in West Lafayette, IN.

“We're seeing new investors enter the space every day so the investment market continues to flourish,” Triad's Ryan Tobias tells GlobeSt.com. “The vast majority of properties tend to hit the market after Labor Day. Classes will have started nationwide and investors and owners will be back from vacations.”

The first asset sold by Triad was University Mills, a 481-bed property located within walking distance of the University of Northern Iowa in Cedar Falls, IA. A MN-based private investor group that wants to expand its student housing portfolio into IA paid $16.4 million to the seller, one of the largest owners in the student housing space, who wanted to exit the market. Originally built in 2001, University Mills has received significant capital improvement to its amenity package.

The second asset Triad recently sold is called Venlo Place and sits just to the west of Ferris State University in Big Rapids, MI. The 264-bed property is 100% pre-leased for the coming school year and was bought by Vision Real Estate Investment for $9.7 million. The purchase represents the Grand Rapids, MI-based company's first foray into student housing. The seller is a Grand Rapids-based development company that built the project in 2006.

Furthermore, Triad has been retained to sell Grant Street and South Street Station, two student housing properties totaling 364 beds within walking distance to the Purdue University campus. Both were purpose built for students between 2013 and 2015. They are trophy assets that boast best in market locations at Purdue. The trophy assets are within two blocks of the main campus and already 100% pre-leased for the 2016-17 school year.

A family investment group in Indianapolis developed these properties, both of which are managed by Granite Student Living. There is a large street level vacant space where the new owner could add value by leasing the space or more likely converting to additional apartment units.

“We'll know by October or so how the year is going to look,” Tobias adds. “We saw a flurry of activity very early this year in January and February and then a bit of a lull, Q3 will be make or break for 2016.”