Mapletree Investments has sold The Cottages of Boone, an 894-bed student housing asset serving Appalachian State University in Boone, N.C.
The Cottages of Boone is held in Mapletree Global Student Accommodation Private Trust (MGSA P-Trust), a fund managed by Mapletree Real Estate Advisors Pte. Ltd. (MREAL), a wholly owned subsidiary of MapleTree.
“This divestment is aligned with the Trust’s overall objective of driving value and maximizing returns to our investors through strategic dispositions,” said Matt Walker, CEO, student housing. “This transaction is an excellent outcome for investors and a testament to Mapletree’s ability to consistently deliver business plans and execute this transaction in a challenging environment.”
The Cottages of Boone is situated off North Carolina Highway 105 and offers access to Appalachian State and stunning views of the surrounding mountains. The asset features three bus stops, with buses arriving every 20 minutes to
