Updated Jan 21, 2025
The BDC Group Acquires Student Housing From For $89.8 Million In Amherst, Rochester
100 Herron Drive & 20 Fairwood Drive
$89,800,000
$185/SF
Building Size
241,739 SF
Asset Type
Student Housing
Closing
Jan 15, 2025
About this deal
AI
The asset involved in this transaction is a student housing property located at 100 Herron Drive & 20 Fairwood Drive in Amherst, Rochester. The sale price for the property was $89,800,000, encompassing a total square footage of 241,739 and a price per square foot of $371.
Summary of transation details:
- Property Type: Student Housing
- Transaction Amount: $89,800,000
- Address: 100 Herron Drive & 20 Fairwood Drive
- Market: Amherst, Rochester
- Square Footage: 241,739
- Price Per Square Foot: $371
- Buyer: The BDC Group
- Seller:
- Broker: Corey Lonberger, Kenneth Wellar & Steffan Ramos - Global Real Estate Advisors
Corey Lonberger, Kenneth Wellar, and Steffan Ramos represented the transaction on behalf of the Global Real Estate Advisors, facilitating the sale between The BDC Group as the buyer and as the seller.
Players
Buffalo Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93