Fairlawn Capital Acquires Illinois Student Housing Portfolio In Champaign For $150M
SOLD
$150,000,000
Illinois
See Similar DealsSold 04/15/2022
SOLD
Fairlawn Capital Acquires Illinois Student Housing Portfolio In Champaign For $150M
Champaign, Illinois, United States
See Similar DealsSold 04/15/2022
Summary
ILLINOIS
Transaction Type:Sale
The Illinois Student Housing Portfolio in Champaign has been sold in a transaction worth $150,000,000. The property consists of 1,100 units of student housing. The sale was completed on April 15, 2022.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $150,000,000
- Address: Illinois Student Housing Portfolio, Champaign
- Market: Champaign
- Units: 1,100
Fairlawn Capital acquired the Illinois Student Housing Portfolio from Campus Property Management, with the deal facilitated by the brokers Scott Harris and Bryan Kunze from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32
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