Nelson Partners, a real estate investment firm that sponsors Delaware statutory trust and tenant-in-common 1031 exchange offerings, has purchased Wildcat Canyon Village, a student housing property located 2 blocks from the University of Arizona campus. The purchase price was not disclosed.
The student housing property is comprised of 76 units with private one- and two-bedroom apartments totaling 128 beds and is currently 96 percent occupied. Property amenities include a swimming pool with sun deck, clubhouse, basketball court, coffee bar, study lounge, controlled access, and game room.
Wildcat Canyon Village is a value-add opportunity that will undergo interior and exterior renovations conducted by Nelson Partners Construction Management team.
“Wildcat is right in our wheelhouse of expertise,” said CEO and founder Pat Nelson. “Our in-house renovation team will be installing our signature hot tubs and modernizing the interior units with new countertops, lighting, top of the line appliances, and fixtures. The property already has great bones with a premier location, and we see a huge potential upside here.”
In other Nelson Partners news, the company recently won the Innovator award at the InterFace Student Housing conference.
Nelson Partners is a vertically integrated investment, development, and management of student housing with more than $600 million in assets under management. The student housing portfolio leased up to 99.6 percent occupancy for the 2018-2019 school year.