Story: Our client, an experienced student housing developer that did not have experience buying existing operating properties, required the peace of mind that all due diligence was properly done. The Class-A property was recently built by another experienced student housing developer, and being sold by a REIT in wind-down mode.
Results: On behalf of the buyer, we provided a peer review of a third-party market study performed by a local firm. We also reviewed all other third-party reports, rent rolls, operating statements, lease forms, and service contracts. Finally, we offered several actionable suggestions to immediately improve property marketability and operations which would result in enhanced returns on our client's investment.