Exceptional Student Housing Investment Opportunity
Exceptional Student Housing Investment Opportunity – 6% Cap Rate
Randall Commercial Group, LLC is pleased to exclusively offer for sale this unique two complex student housing opportunity. Molly Barr Trails was built in 2012 and has experienced 100% occupancy in every year since opening. Molly Barr Ridge is a new development which was delivered August 2015. Molly Barr Trails consists of 72 units and 144 bed spaces with all units being 2 bed/2bath. Molly Barr Ridge consists of 53 units and 159 beds with all units being 3 bed/3 bath. The location is one of the closest student housing projects to the Ole Miss campus. The comparable properties have strong current occupancy and on-campus housing occupancy is extremely high.
The properties are located at the beginning of the Oxford Depot Trail, which is a paved and designated walking and biking trail leading approximately 1.1 miles to campus and close to the famous Oxford Square. Molly Barr Trails will be sold with assumable, non-recourse debt at 10 year fixed 3.79% rate.
Molly Barr Trails is currently 100% leased for the 2015/2016 school year, and Molly Barr Ridge is 97% leased for the 2015/2016 school year.. Ole Miss has experienced extraordinary growth during the last five years and became the largest university in Mississippi as of this years enrollment.
Purchaser may acquire both developments or just Molly Barr Ridge only.
Click HERE for complete Offering Memorandum
Category: Recent/Closed Projects
Type: Investment, Multifamily
Address: 1011 & 1021 Molly Bar Road, Oxford, MS 38655