A portfolio of six student housing communities encompassing 4,423 beds across 1,519 units has been put on the market with an estimated total value of nearly $500M.
The assets, which are located in Louisiana, Maine, South Carolina and Texas, are owned by Ceruzzi Properties and Park7, with Ceruzzi holding a majority interest. Both companies are based in New York.
The estimated value of the portfolio works out to $329K per unit, or $113K per bed, according to a Green Street alert. Ceruzzi has tapped Walker & Dunlop to market the portfolio, while Park7 has engaged Newmark in the sales effort.
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