SOLD
Pierce Education Properties Acquires The Bryn And Tremont Student Living In State College For $74.3M
201 Vairo Boulevard & 601 Vairo Boulevard
MultiFamily
Sold 166 days ago
Summary
Sale
PENNSYLVANIA
MultiFamily
Pierce Education Properties has purchased The Bryn and Tremont Student Living, two neighboring apartment properties in State College, Pennsylvania. The properties, located at 201 Vairo Blvd. and 601 Vairo Blvd., were acquired from affiliates of Saban Real Estate of Los Angeles for a total of $74.3 million. The combined capacity of the properties is nearly 1,400 beds, with a total of 408 units. The purchase price per unit was $182,108.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $74,300,000
- Units: 408
- Price Per Unit: $182,108
Pierce Education Properties, represented by Frederick W. Pierce IV, was the buyer in this transaction. Saban Real Estate acted as the seller. The deal closed on November 27, 2023.
Details
SOLD
IMAGE: Frederick W. Pierce IV
DATE: 11/27/2023
ADDRESS: 201 Vairo Boulevard & 601 Vairo Boulevard
MARKET: State College
ASSET TYPE: Multifamily
BUYER: Pierce Education Properties (@Pierce_Properties) - Frederick W. Pierce IV
SELLER: Saban Real Estate
SALE PRICE: $74,300,000
UNITS: 408 ~ PPU: $182,108
NOTE: Pierce Education Properties has purchased The Bryn and Tremont Student Living, two neighboring apartment properties with 408 units in State College, Pennsylvania, for a total of $74.3 million. The properties, located at 201 Vairo Blvd. and 601 Vairo Blvd., have a combined capacity of nearly 1,400 beds and were acquired from affiliates of Saban Real Estate of Los Angeles.View on map
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Address201 Vairo Boulevard & 601 Vairo Boulevard
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