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RRA/GREA SELLS 300 UNIT/780 BED STUDENT HOUSING COMMUNITY NEAR GEORGIA SOUTHERN UNIVERSITY FOR $41,700,000

by RRA on February 22, 2022
RRA/GREA SELLS 300 UNIT/780 BED STUDENT HOUSING COMMUNITY NEAR GEORGIA SOUTHERN UNIVERSITY FOR $41,700,000
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PHILADELPHIA, PA–(2/22/22)  –   RRA/GREA’s National Student Housing Group is pleased to announce the sale of The Hudson, a purpose-built student housing community adjacent to the Georgia Southern University campus in Statesboro, Georgia.  The 300 unit/780 bed property was sold 100% leased.  

The Hudson offers students amenity-rich off-campus housing including: private bedrooms and baths, in-unit washers and dryers, private balconies, a newly renovated clubhouse, a tech bar and student center, 24-hour gym equipped with a boxing ring, weight machines, and Peloton bikes, a resort-style pool with beach-entry, lap pool and spa and an outdoor picnic area with bbq grills.  

Douglas Sitt, RRA/GREA’s Student Housing Specialist, stated:  “Georgia Southern University has incredible go-forward market fundamentals.  The school is continuing to grow its enrollment and there are no significant student housing projects in the development pipeline. This enabled us to field competitive offers from a large buyer pool.”

Ken Wellar, Managing Partner at RRA/GREA, noted:  “Through our firm’s unique marketing process we were able to get multiple bids and achieve great results for the seller.”

Rittenhouse Realty Advisors recently launched a new national platform called GREA, in partnership with other established brokerages throughout the country.  GREA has 11 offices across the United States, making it one of the largest privately-held multifamily brokerage firms in the U.S.  GREA offers state-of-the-art proprietary technology, data sharing, and capital sourcing capabilities, which RRA will utilize to continue to expand its national student housing platform.    

“We have a large pipeline of deals closing this year and look forward to expanding RRA/GREA’s national student housing platform,” Douglas Sitt added.  

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