GMH Communities Trust today announced that its student housing division, College Park Communities, has acquired College Suites Stadium, a student housing property serving the University of South Carolina in Columbia, S.C.
The value of the transaction was approximately $36.9 million.
The 264-unit/924-bed community, built in 2004, includes 11 three-story apartment buildings located on more than 29 acres of landscaped grounds. The property offers a variety of student-oriented amenities, including a clubhouse, computer lounge, a resort-style swimming pool, a sand volleyball court, basketball court, hi-tech electronic game room, tanning booth, putting green and fitness center.
At the time of sale, the property was 99 percent leased.
The property is directly adjacent to an existing owned asset, University Oaks, which was purchased by the company in November 2004. College Suites Stadium is the company’s seventh purchase this year.
GMH Communities Trust is a publicly traded Maryland real estate investment trust.
