The Lodges at Glenwood Student Housing, Provo Utah
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Equity Investment
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Est. 12.93% IRR
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Est. 2.67X Multiple Return
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194 Units (1,156 beds)
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Very Strong Sponsor
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Close to BYU
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The deal was already fully subscribed
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1565 N University Avenue, Provo, UT, 84604
This property, located adjacent to campus, provides students with great amenities and a positive student living environment. With extensive renovations, we will raise rents to bring them in line with the market.
The Lodges at Glenwood has consistently been over 98% occupied and is 100% occupied in 2021.
About our partner Redstone
Redstone's corporate office is in Provo, and they have years of experience in the BYU student housing market. They currently own/manage over 6,000 beds (over 50% market share) in the market, and our portfolio is currently 100% physically occupied for the 2020-2021 school year. Their competitive advantage allows them to navigate the unique landscape of BYU student housing. They have multiple case studies of successful renovations in this market, and they are confident in their ability to improve the property.
1565 N University Avenue, Provo, UT, 84604.
