|Number of units||230|
Jones Lang LaSalle, L.P. and JLL Real Estate Limited (collectively, “JLL”) proudly present Aspen Heights Stillwater (the “Property”), a 798 bed / 230 unit best-in-class, 100% occupied, cottage-style student housing community located at Oklahoma State University (“Oklahoma State”). Oklahoma State is a nationally recognized Power-5 university with Fall 2020 enrollment of 24,649 students from 100+ countries and all 50 states. Student housing properties in the market located over a mile from campus are 98.4% occupied for the Fall 2021-2022 academic year. The opportunity allows investors to increase EGI by approximately $1,000,000 by implementing a value-add program and utilizing the ample green space.
- Tier I, Power-5 University with zero beds in the pipeline
- 100% occupied cottage-style property with best amenities and largest units in the market
- First asset in the market to lease-up with rents currently below the competitive set demonstrates an opportunity for organic rent growth
- Ability to increase annual revenue $1MM by adding private yards, charging premiums for preferred bedroom types and performing light unit interior renovations