LINCOLN, NE - GMH Capital Partners and AGC Equity Partners announced the Partnership's acquisition of Aspen Lincoln, a 632-bed student housing community located in Lincoln, Nebraska. The transaction is the Partnership's fourth student housing asset acquired and/or developed by its joint investment fund. The seller was Aspen Heights Partners and Virtus Real Estate Capital.
Aspen Lincoln is a 203,552-square-foot off-campus student housing community consisting of five floors and 182 units, located just two blocks from the University of Nebraska-Lincoln and four blocks from O Street's bars and restaurants. GMH plans to rename the community Academy Lincoln.
"Aspen Lincoln marks yet another upscale addition to our existing ultra-core student housing portfolio," said Gary M. Holloway Jr., President of GMH Capital Partners. "As a company that is both passionate and committed to maximizing property performance and creating quality living experiences for all of our residents, we are excited to re-enter the Nebraska market, where we once had a very large student housing presence, to further enhance Aspen Lincoln and add value for existing and new student residents."
At the Asset, students can enjoy fully-furnished apartments with private bathrooms, large kitchens, and new appliances, as well as top-of-the-line amenities including a 24-hour fitness center; California-style pool and hot tub; tanning areas; study lounges and computer labs; in-unit washers and dryers; courtyards with grilling and fire pits; and utility allowance.
Aspen Lincoln also provides students with convenient access to grocery and retailers such as Walgreens, Hy-Vee, and Target; entertainment venues such as the Pinnacle Bank Arena, Lied Center for Performing Arts, and the Memorial Stadium; and popular dining options like Noodles & Company, The Mill, The Coffeehouse, and Raising Cane's.
The Partnership between GMH and AGC is focused on acquiring and developing core and value-add student housing properties.