Reliant Group Purchases 145-Unit Student Housing Community From Keystone Real Estate Group For $30M

The Villas at Happy Valley, located at 1335 Dreibelbis Street in State College, PA, is a 435-bed student housing community. The property consists of 145 units, with a sale price of $30,000,000, resulting in a price per unit of $206,897. The asset was recorded as 93% leased at the time of closing.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $30,000,000
• Address: 1335 Dreibelbis Street
• Market: State College, PA
• Beds: 435
• Units: 145
• PPU: $206,897
• Buyer: Reliant Group
• Seller: Keystone Real Estate Group
• Broker: Franklin Street

Franklin Street facilitated the transaction, managing the sale of the property from Keystone Real Estate Group to Reliant Group. The transaction includes plans for renovations to the fitness center, clubhouse, and interiors of the property.