MARCUS & MILLICHAP BROKERS $19.38 MILLION STUDENT HOUSING SALE

SHIPPENSBURG, PA. — Marcus & Millichap has brokered the sale of Bard Townhouses, a 173-unit student housing community located at 100 Bard Dr. in Shippensburg, for $19.38 million. Situated on 32.54 acres across the street from Shippensburg University, the community comprises 23 two-story buildings with a mix of two-, three- and four-bedroom units. It was fully occupied at the time of closing. Brian Kelly of Marcus & Millichap’s Indianapolis office and Spencer Yablon of the firm’s Philadelphia office represented the sellers, Shippensburg Townhouses LLC and Shippensburg Townhouses II LLC, which are managed by Pennsylvania-based James Properties. The pair also represented the buyer, Ventures Shippensburg LP. The property traded at a price of $112,023 per unit.