{"id":6600,"date":"2022-07-29T11:07:46","date_gmt":"2022-07-29T16:07:46","guid":{"rendered":"https:\/\/1reason.com\/re\/rra-grea-and-triad-team-up-to-sell-class-a-student-housing-asset-at-missouri-state-university-totaling-25700000\/6600\/"},"modified":"2022-07-30T06:07:46","modified_gmt":"2022-07-30T11:07:46","slug":"rra-grea-and-triad-team-up-to-sell-class-a-student-housing-asset-at-missouri-state-university-totaling-25700000","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/rra-grea-and-triad-team-up-to-sell-class-a-student-housing-asset-at-missouri-state-university-totaling-25700000\/6600\/","title":{"rendered":"RRA\/GREA and Triad Team Up to Sell Class-A Student Housing Asset at Missouri State University Totaling $25,700,000"},"content":{"rendered":"
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The Vue on Walnut – Missouri State University<\/figcaption>
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PHILADELPHIA, June 30, 2022 (GLOBE NEWSWIRE) — Rittenhouse Realty Advisors, a member of GREA and Triad Real Estate Partners are pleased to announce the sale of The Vue on Walnut, a student housing property located at 430 E. Walnut Street in downtown Springfield, MO, within walking distance to Missouri State University.<\/p>\n

Built in 2019 by Cornerstone Development out of St. Louis, MO, the property has an excellent unit mix of one, two, three and four bedroom units, all with bed\/bath parity. Tenant amenities include a pet spa, swimming pool, fitness center, business center, and game room, among others. Units are offered with luxury finishes, balconies or patios, and in-unit laundry.<\/p>\n

Sean Lyons, founding partner of Triad, stated: \u201cTeaming up with RRA\/GREA on this transaction proved to be a very successful strategic approach to expose this asset to a very wide and diverse buyer pool. This resulted in a competitive bidding process that provided the seller with multiple options in our final selection process.\u201d<\/p>\n

Missouri State University has an enrollment of over 24,000 students and has seen a 5% increase in enrollments since 2015. Douglas Sitt, Co-Head of Student Housing at RRA\/GREA stated: \u201cThe student housing market at Missouri State University is well positioned to perform extremely well, as there are no purpose built student housing projects in the development pipeline, while pre-leasing velocity and growth is significantly outpacing last years leasing activity.\u201d<\/p>\n

\u201cWe were able to execute on the sale during a challenging debt market environment. Working with Triad, a great Midwest broker team, and utilizing the RRA\/GREA platform brought in buyers from all over the country. We ended up closing with a market leader in the student housing industry,\u201d added Ken Wellar, Managing Partner at RRA\/GREA.<\/p>\n

\"2\"<\/p>\n

For more information on current rates or to view our available listings visit www.RittenhouseRealty.com<\/u><\/a> and www.GREA.com<\/u><\/a>.<\/p>\n

Based in Philadelphia, Pennsylvania, Rittenhouse Realty Advisors, a member of GREA, is a real estate advisory firm with an extensive focus in the brokerage of multi-family communities throughout the United States. Formed in February 2013 by a group of advisors with more than 30 years of commercial investment sales experience, our focus is on multi-family, mixed-use, and development properties with significant residential components. RRA is a member of <\/em>GREA<\/u><\/em><\/a> with brokerage offices throughout the United States.<\/em><\/p>\n

Press Contact: Corey Lonberger and Ken Wellar
Managing Partners
215-454-2852 <\/p>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/67cfa58c-1d53-4340-b17c-e562972d0850<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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<\/p>\n

The Vue on Walnut – Missouri State University<\/p>\n

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