257 Bed Student Housing Portfolio 7 Properties Offered at $35,519,920 CAD in Bloomsburg, PA

257 bed luxury student housing portfolio located just off Bloomsburg University campus in Bloomsburg, PA. Currently pre-leased at 96% for 2023/2024 school year. The investment has been reduced by $5M and will be delivered free and clear of debt. The portfolio offers an unprecedented opportunity to control a large number of beds in a market with smaller properties/competition.
The properties boast an unheard of near 99% historical occupancy and collection with additional income from attached commercial units and 200+/- parking spaces. There are many new/upgraded units containing granite countertops, hardwood flooring, ceramic tile, up to 86” TV’s, washer/dryers, dishwashers and high speed internet. * Included FF&E of $250,000.
The opportunity offers an out of market new ownership group with enough beds for an operational economy of scale. The properties are located around one another and have shuttle service to classes. They are surrounded by shopping, grocery, and restaurants in the downtown area. Approximately 3 miles away Geisinger Heath Systems recently purchased 72.5 acres adjoining Columbia Mall for $19M for a new hospital campus demonstrating strong growth in the area.
Bloomsburg is strategically located at the crossroads of I-80 and Route 42.. It is close in proximity to Bloomsburg University with a student enrollment of approximately 9,900+ students. Bloomsburg U has a storied history being founded in 1839. It’s the 3rd largest of the 14 universities in Pennsylvania. It made the list of top universities in the northern region according to U.S. News and World Reports annual rankings.