Address: 3528 Gentian Blvd, Columbus, Georgia, US
Created date: October 20, 2023
Date last updated: October 20, 2023
Transwestern’s National Student Housing Group and RI Marketplace are pleased to exclusively present the opportunity to acquire The Hill, a 104-unit, 258-bed student housing community serving the students of Columbus State University (CSU) in Columbus, Georgia.
The Hill is currently 96% occupied and has consistently demonstrated strong occupancy in recent years combined with year over year rental rate increases. Additional NOI growth can be unlocked through value-add initiatives focused on upgrading unit interiors and further pushing rents to market as well as several expense saving opportunities.
The Hill’s favorable location puts residents just steps to the academic core of campus and the student life hub, consisting of dining services, the university bookstore and the hugely popular recreational athletics and fitness facilities. The Property also benefits from significant neighboring retail, including Peachtree Mall, the #1 visited mall in the region.
Columbus State University has averaged more than 8,000 undergraduate/graduate students over the last 5 years with 82% of those students living in off campus housing. After record incoming freshman and retention in 2020, CSU anticipates a steady enrollment in the upcoming years. Columbus Technical College and Georgia Military College, both less than 2.5-miles away, provide additional residents for the Hill.
The Hill offers an outstanding opportunity to invest in a well maintained, quality asset, at an extremely attractive basis well below replacement costs in a market where students have limited on-campus housing options, only three existing student focused properties, and no new developments in the supply pipeline