MJW Investments has sold a portfolio of student-housing assets serving Michigan State University to Blue Vista Capital Management.
Commercial real estate advisory and services firm Newmark, which represented the seller in the transaction, reported the conclusion of the deal.
The student-housing properties include The Gates, The Manor and The Tower, representing 303 units and 496 beds, all located within a half-mile of Michigan State University. In addition, all assets in the portfolio are within walking or biking distance of the campus, downtown Lansing, Mich., and the East Lansing entertainment district between Albert and Grand River Street.
“The differentiated product and A+ location within the MSU submarket made for a compelling portfolio,” said Ryan Lang, vice chairman and head of the student housing group at Newmark. “We were pleased to seamlessly execute on behalf of MJW Investments with a high-quality buyer like Blue Vista.”