Strategic 1031 Properties’ Delaware Statutory Trust offering, Reno Student Housing, DST, has been fully subscribed by investors. The offering raised a total of $42.9 million of equity. Strategic 1031 Properties is an affiliate of SmartStop Asset Management.
Reno Student Housing, DST is comprised of The Summit, a 186-unit, 709-bed student housing community located one block from the University of Nevada, Reno. The Summit is a seven-building, Silver LEED–certified student housing community located at 2780 Enterprise Road. The property is currently 97 percent leased.
“Student housing is a needs-based real estate sector that has proven to be recession resistant,” said H. Michael Schwartz, founder, chairman and CEO of SmartStop Asset Management. “Summit is a newly constructed student housing community that is purpose-built and amenities-rich, as well as adjacent to one of Nevada’s largest universities.”
The Summit’s 186 fully furnished units are
