Student Housing Investment Opportunity - Directly across from Wilkes U

Posting ID : A1068533779
Date Posted : 2015-08-19
Category : Real Estate By Broker

Please visit to directly download the Offering Memorandum.

Investment Highlights

Historical 100% Occupancy
Outstanding Location: All Units Directly Adjacent to Wilkes University
Laundry Facilities on Site: Select Units Offer an In-Unit Washer/Dryer
Off Street Parking: Available at Each Building
Security & Fire Protection: Closed Circuit Video Cameras and Hardwired Monitored Alarms Throughout
Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in the Student Housing Portfolio at Wilkes University. The offering is comprised of three properties utilized for off-campus housing located directly adjacent to the Wilkes University Campus. There are a total of 16 units with 45 total student bedrooms arranged in 1, 2 , 4 and 5 bedroom layouts.

132 South Franklin Street is comprised of four apartment units with a unit mix of (2) two-bedroom units, (1) four-bedroom unit, and (1) five-bedroom unit for a total of 13 student bedrooms. This property is located on the opposite side of South Franklin Street from Wilkes University, and features off-street parking, washer/dryer in unit, closed circuit security cameras and Wi-Fi.

200 South Franklin Street features seven student apartments with 19 total bedrooms. The unit mix features (1) one-bedroom unit, (3) two-bedroom units, and (3) four-bedroom units. Similar to the property at 132 South Franklin Street, this property is located adjacent to the Wilkes University campus and directly across the street from the student library. Amenities include off-street parking, on-site laundry facility (provided free of charge to tenants), closed circuit security cameras, and Wi-Fi.

84 West Ross Street contains five student apartments with 13 total bedrooms. There are (4) two-bedroom units, and 1, five-bedroom unit. This property is located one-half block from Wilkes University 75,000 Marts Center which is regarded as one of the finest athletic facilities in the Mid-Atlantic Conference. Ross Street building amenities include off-street parking, on-site laundry facility (provided free of charge to tenants), closed circuit security cameras, and Wi-Fi. In addition, upon renovation in 2005 the entire building was outfitted with a sprinkler system throughout the property.

Historically 100% occupied, these units maintain a strong reputation within the student community. Each property has undergone significant renovations in the last 7 to 8 years to offer a modern and safe off-campus rental for students of Wilkes University. These units are the first to lease in an off-campus student housing market where quality rentals are in high demand.

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