Capstone Brokers $10.1M Sale of Student Housing Portfolio Near Murray State University in Kentucky

MURRAY, KY. — Capstone Apartment Partners has brokered the sale of a 248 unit, 898-bed student housing portfolio in Murray for $10.1 million. The portfolio features two properties: CEV Murray North and CEV Murray South, which are situated less than a half mile north of Murray State University’s campus. Capstone’s Jonathan Hawks, Adam Klenk, Austin Heithcock and Tyler Mayo represented the seller, Timberline Real Estate, in the transaction. The buyer, Hillcrest Acquisitions, plans to do minor renovations to the assets and improve occupancy while keeping the current management company in place.

CEV Murray North features 140-units and 490 beds. The property was built in 2008 and was 75 percent occupied at the time of closing. Less than one mile south from CEV Murray North is CEV Murray South, which has 108 units and 408 beds. The apartment property was constructed in 1999, and was 90 percent occupied at the time of sale. CEV Murray North and South each offer amenity packages such as swimming pools, fitness centers, clubhouses, grilling areas and volleyball courts.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties