GREA and Triad Real Estate Partners are pleased to announce the $15,000,000 sale of Champions Club, a 76-unit, 232-bed student housing property located 1629 S. Razorback Road in Fayetteville, Arkansas. The newly constructed trophy asset is located one mile from the University of Arkansas, which has an enrollment of over 29,000 students.
Community amenities include a swimming pool, fitness center, BBQ/picnic area with fire pit, dog park, game lounge, and computer lab. Apartments are two, three, or four bedrooms, and are fully furnished and include 1 to 1 bed/bath parity and in-unit laundry.
Enrollment at University of Arkansas has increased over 5% compared to the 2020-2021 academic year.
“This off-market transaction clearly demonstrates the continued strong demand for quality student housing assets at flagship schools,” said Sean Lyons, founding partner of Triad. “The University of Arkansas experienced record enrollment for this Fall, and properties like Champions Club will continue to be the beneficiaries of this growth pattern.”
Douglas Sitt added, “ Tier-1 universities in the south are experiencing record pre-lease velocity and rent growth. Champions Club, adjacent to the University of Arkansas, is a prime example of that. The property and market are performing well beyond expectation in terms of rent growth and high occupancy.”
“GREA’s national platform in partnership with Triad allowed us to find a family office buyer that is newer to the student housing space,” stated Ken Wellar, founding partner at GREA.