NEWTOWN SQUARE, PA -- GMH Capital Partners, L.P. ("GMH") and AGC Equity Partners ("AGC") (together, the "Partnership") today announced the Partnership's acquisition of Aspen Lincoln, a 632-bed student housing community located in Lincoln, Nebraska (the "Asset"). 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.
About GMH Capital Partners & GMH University Housing: GMH Capital Partners, L.P. is a nationally recognized leader in the commercial real estate market, specializing in the areas of investment, development, construction, and asset management. GMH has developed and acquired over $8 billion of commercial real estate in the United States since its inception. The firm's investment strategy is heavily focused on the multi-family sector with over 190 investments in its portfolio.
GMH University Housing is the student housing management division of GMH. GMH University Housing draws on over 33 years of experience in managing student housing assets across the nation, spanning over 35 states and accounting for over 85,000 beds owned and/or managed.