440
EAST LANSING, MICH. — A joint venture between Centurion Property Group and IDE has acquired The Rocks, a 376-bed student housing community located near Michigan State University in East Lansing. The purchase price was undisclosed. Built in 2015, the property features one, two-, three- and four-bedroom layouts, all with 100 percent bed-to-bath parity. Amenities include a fitness area, game room and study lounge. The community is fully occupied. Aaron Moll of Berkadia originated a Freddie Mac loan for the acquisition that features a fixed interest rate and interest-only payments for the full term. Kevin Larimer and Brandon Buell of Berkadia represented the seller, Nuveen Real Estate.