FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of College Suites at Brockport, a 114-unit/401-bed student housing community serving The College at Brockport SUNY in Brockport, New York.
The HFF team represented the undisclosed seller, and procured the buyer, EMET Capital Management, LLC.
College Suites at Brockport is situated on 12 acres at 4599 Redman Road in Brockport, New York, approximately 18 miles west of Rochester. Completed in 2009, the property is one of the closest privately owned student housing properties to campus and includes a mix of two-, three- and four-bedroom fully furnished floorplans. Amenities include a fitness center, game room, business center, 24-hour group study area and complimentary shuttle service to campus. The property also offers access to retail and dining amenities along nearby Main Street, Brockport’s main commercial thoroughfare.
The HFF investment advisory team representing the seller included senior managing directors Jose Cruz and Andrew Scandalios, managing director Kevin O’Hearn, senior directors Michael Oliver and Stephen Simonelli as well as directors Jordan Avanzato and Ryan McBride.
“The demand for this well-located, off-campus housing property was very strong among private investors as they saw the significant upside potential,” Cruz said.
About EMET Capital Management, LLC
EMET Capital Management specializes in distressed and special situation real estate opportunities within the municipal marketplace, a highly specialized niche investment area. EMET currently manages a private equity fund with aggregate capital commitments in excess of $125 million.
About HFF
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.