A successful sale of value-add property at Northern Arizona University highlights the historical resilience of the student housing category in a post-pandemic economy
ALISO VIEJO, Calif., June 23, 2022 /PRNewswire/ -- Versity Invest, LLC, (Versity) a nationally recognized real estate investment firm specializing in student housing and conventional multifamily housing, has sold a 194-door property located half a mile from Northern Arizona University, generating 86.5% total return for investors.
"We're very proud of what we were able to accomplish with the Commons at Sawmill. We created a strategy early on and were fortunate enough to implement that strategy by overcoming a variety of hurdles along the way. Ultimately, it proves once again that a strategic value-add plan has the potential to be very effective in student housing, in the right hands of the operator," said Blake Wettengel, CEO of Versity Invest.
The property known as The Commons at Sawmill is located at 901 South O'Leary Street in Flagstaff, Arizona. The Commons at Sawmill is situated half a mile from Northern Arizona University and includes 194 doors with 392 beds. Through Versity, the property has generated an 86.5% total return for investors.
For more information about Versity Invest, LLC, please contact Tanya Muro at 877-827-6272 or by email at firstname.lastname@example.org.
Versity Invest, LLC, offers individual investors indirect ownership interests in institutional quality, professionally managed real estate. The company focuses on what we believe to be well-positioned, currently income producing properties, targeted development opportunities and potential value-added investments for its clients through strategies targeting capital improvements, cost efficiency, and revenue maximization. Versity specializes in the acquisition, financing, management, and ownership of real estate investments in student housing, multifamily and niche specialty categories. Versity, and its subsidiaries, currently manages over $1.6BN in real estate.
All loss of some or all principal invested. Past performance is not indicative of future results. Securities offered through Emerson Equity, LLC, Member FINRA/SIPC. www.finra.org and www.sipc.org. Versity and Emerson Equity, LLC are not affiliated.
- There is no guarantee that any strategy will be successful or achieve investment objectives;
- Potential for property value loss – All real estate investments have the potential to lose value during the life of the investments;
- Change of tax status – The income stream and depreciation schedule for any investment property may affect the property owner's income bracket and/or tax status. An unfavorable tax ruling may cancel deferral of capital gains and result in immediate tax liabilities;
- Potential for foreclosure – All financed real estate investments have potential for foreclosure;
- Illiquidity – Because 1031 exchanges are commonly offered through private placement offerings and are illiquid securities. There is no secondary market for these investments.
- Reduction or Elimination of Monthly Cash Flow Distributions – Like any investment in real estate, if a property unexpectedly loses tenants or sustains substantial damage, there is potential for suspension of cash flow distributions;
- Impact of fees/expenses – Costs associated with the transaction may impact investors' returns and may outweigh the tax benefits
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SOURCE Versity Invest, LLC