Student housing community The Vista sells for record-breaking price in Mississippi

Student Quarters buys 820-bed community near Mississippi State University for undisclosed price.
By: Colliers International
 
STARKVILLE, Miss. - Dec. 8, 2021 - PRLog -- Student Quarters has purchased student housing community The Vista in Starkville, Miss., near Mississippi State University (MSU), for an undisclosed price.

Sean Baird, Director of Student Housing Services, and Jonathan Holt, Director of Student Housing Services for Colliers facilitated the transaction.

The seller, IMS Properties, completed construction on the 309-unit, 820-bed student housing development in the popular Cotton District, less than a mile from MSU, in 2020. The area includes retail, restaurants and nightlife, including 5,137 square feet of retail space on the ground floor of The Vista.

"The Vista is a best-in-class student housing asset and is a top performer in a Power Five market. Student Quarters also owns the only other student housing community in the Cotton District, making this a perfect fit for its growing portfolio."

Sean Baird, Director of Student Housing Services, Colliers

The Vista offers students luxury off-campus housing with floorplans available in one, two, three, four and five bedroom options. Amenities include a resort-style saltwater pool and poolside cabanas, a 24-hour athletic club, dog park, yoga studio, game room, lounge and electric vehicle charging stations.

IMS Properties, a large multifamily development and property management company, sold the property as they look to exit the student housing market. The transaction was completed as an off-market deal, as Baird and Holt marketed the property to a hand-selected pool of buyers.

"Because of the class and value of this asset, there weren't any comparable transactions in the market or state. Given that challenge, we had to make sure the deal aligned with the buyer's expectations."

Jonathan Holt, Director of Student Housing Services, Colliers

Student Quarters is one of the top 25 owners of student housing in the United States. The company's investment strategy focuses on value-add and core assets located in close proximity to universities with strong enrollment trends. Since 2013, Student Quarters has completed more than 92 student housing deals, totaling more than 37,000 beds with a total transaction value in excess of $2.3 billion.

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Tags:Real Estate
Industry:Real Estate
Location:Starkville - Mississippi - United States
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