DTN Management Co. has sold the Michigan State Portfolio, a 292-unit, 524-bed portfolio of student-housing communities located just a few blocks from the campus of Michigan State University in East Lansing, Mich.
Champion Real Estate Company acquired the asset for $42.26 million.
The six fully furnished properties deliver amenities that include newly remodeled apartments, resident lounges with billiards and coffee bars, swimming pools, sand volleyball courts, and exercise facilities.
The properties within the portfolio are located just north of Michigan State’s campus at 635 Abbot Rd., 129 Burcham Dr. and 731-787 Burcham Dr. Residents of the properties are near the campus of about 50,000 students, more than 200 academic programs, and the vibrant nightlife along East Grand River Road.
“In the last 12 months, we have seen a tremendous amount of interest in student-housing opportunities proximate to Tier I universities as the asset class continues t
