PAOLI, PA - TSB Realty, LLC successfully completed the sale of Campustown, a 455-unit, 1,216-bed scattered site student housing community located just south of the Iowa State University campus in Ames, Iowa. Both the buyer and seller are undisclosed.
“Campustown presented a unique opportunity to enter a Power 4 market with an asset that has demonstrated unmatched value compared to the purpose-built student properties in the same highly desirable area,” said Randall Calvert with TSB Realty. “The buyer recognized that combination of superior location and strong fundamentals, and we were thrilled to work with them to complete the sale.”
Campustown includes 22 buildings all situated within a quarter-mile of the Iowa State University campus, and within a block of both the popular Campustown retail district and Greek housing. The property’s premier building at 127 Stanton Avenue, nicknamed “The Resort,” hosts most of the community amenities, highlighted by a resort-style pool and hot tub, and a state-of-the-art fitness center with separate cardio room, sauna, barbecue grill area and sun deck. Campustown’s floor plans range from studio to five-bedrooms, with apartments featuring stainless steel or black appliances, stone or laminate countertops, and hardwood-style flooring.
TSB Realty is a full-service, national investment sales firm specializing in the valuation and disposition of student housing communities and conventional multifamily communities. Since inception in 2014, the Paoli, Pennsylvania-based firm has closed over $10 billion in student housing sales for a diverse client base, encompassing more than 100,000 beds from tier 1 markets to tertiary markets.