Chris Albright Of Ethos Residential Acquires Student Housing Portfolio In State College For $31.5M

The transaction involved multiple properties located in State College, PA, including Lenwood Place at 917 S Allen Street, Allen Park at 1013 S Allen Street, College Park at 415 W. College Avenue, and Mt. Nittay at 1006 S Pugh Street. The total sale price for the assets amounted to $31,500,000, with an overall square footage of 172,796, resulting in a price per square foot of $182.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $31,500,000
• Buyer: Chris Albright - Ethos Residential & Continental Real Estate
• Seller: Gregory Welteroth - Welteroth Family
• Seller's Representative: Kenneth Wellar, Corey Lonberger & Steffan Ramos - Global Real Estate Advisors (GREA)

The deal was facilitated by Chris Albright, who represents Ethos Residential and Continental Real Estate as the buyer. The seller, Gregory Welteroth, was represented by Kenneth Wellar, Corey Lonberger, and Steffan Ramos from Global Real Estate Advisors. This collaboration underscores the significant involvement of experienced professionals in the transaction.