CRE O Indiana

Colliers International sells student-housing portfolio near Ball State University

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The Wernke Team of Colliers International|Indiana Region has sold a student-housing portfolio located in Muncie, Ind.

The Wernke Team of Colliers International|Indiana Region has sold a student-housing portfolio located in Muncie, Ind.

The portfolio consists of Beacon Hill Apartments (816 N. New York Ave.), Kensington Apartments (518 North Dill St.) and Chesterfield Apartments (551 N. Dicks St.).

The three apartment complexes, totaling 103 Units, 291 Beds and 99,323 square feet, are located within short walking distance to the Ball State University campus and serve a population of nearly 20,000 students and university employees.

The portfolio was listed by Michael Wernke , senior vice president for investment and multi-family services, in conjunction with Colliers International|Clearwater, Florida Student Housing Group, on behalf of the seller, an affiliate of DJT Student Housing Group.

Beacon Hill Indy, LLC in affiliation with Birge & Held Asset Management purchased the portfolio for an undisclosed price.