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Raleigh Student Housing Portfolio
Raleigh, North Carolina
Acquired in Q2 2016 in partnership with a Persian Gulf institutional investor, this three asset portfolio benefits from Class A construction as well as the “fortress” location of its largest property, the Dail College Inn, originally developed by the North Carolina State Student Aid Association (better known as the Wolfpack Club) and directly across from NC State’s campus.
Offering already-extensive amenities, significant capital improvements are planned to ensure continued market leadership, particularly with the student athletes who have traditionally lived at two of the three properties.
The portfolio was acquired via an off-market recapitalization of three partnerships, including the assumption of existing financing.