Core Spaces Acquires Clemson Lofts Student Housing In $77M Sale
111 Cochran Road
$77,000,000
Building Size
—
Asset Type
Student Housing
Closing
Sep 18, 2023
AI
Core Spaces has acquired Clemson Lofts, a 641-bed student housing property located at 111 Cochran Road in Clemson, South Carolina. The property was sold for a total of $77 million by Realco Capital Partners and Arcapita Group Holdings.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $77,000,000
- Address: 111 Cochran Road, Clemson, SC
- Market: Clemson, SC
- Buyer: Core Spaces - Marc Lifshin
- Seller: Realco Capital Partners & Arcapita Group Holdings - Atif Abdulmalik
- Brokers: Ben Sarna, Chris Epp, Holden Penn, Matthew Chase, Sarah Foronda, Will Baker, William Shell & Craig Miller - Walker & Dunlop
The acquisition of Clemson Lofts by Core Spaces was facilitated by Walker & Dunlop, with brokers Ben Sarna, Chris Epp, Holden Penn, Matthew Chase, Sarah Foronda, Will Baker, William Shell, and Craig Miller playing a key role in the deal. This transaction highlights the continued growth and investment in student housing properties in Clemson, South Carolina.
Players
Connellsville Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93