Berkadia is pleased to announce the exclusive opportunity to acquire Campus Edge Apartments located in Cookeville, TN. Campus Edge is a newly built, best-in-class student housing development featuring 288-beds and boasting an occupancy of 100%. With the limited amount of stock and an estimated 76% of the student population living off-campus, Campus Edge is well-positioned to be a top performer in the marketplace.
Campus Edge is located about 1 mile from Tennessee Tech University (TTU). Current enrollment at TTU is just under 11,000 graduate and undergraduate students. The annual local impact of TTU is estimated to exceed $150 million with well over 1,100 employees. There is nearly $150 million in on-campus development taking place with the construction of a new Laboratory Sciences Building and a new Recreation and Fitness Center scheduled for delivery in 2019/2020.
Campus Edge is a 96-unit / 288-bed, garden-style student living community located in Cookeville, Tennessee. The property was recently constructed in 2017 and features attractive, two-tone exterior siding. Unit mix for the property is made up of 48 two-bedroom units, each measuring 960 square feet, and 48 four-bedroom units, each measuring 1,280 square feet. Average unit size for the property is 1,120 square feet. Neatly manicured lawns and professionally maintained landscaping decorate the grounds of the property.
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
©2018 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx