CBRE Announces Sale of 590-Bed Luxury, Pedestrian Student Housing Community at University of Toledo
03 5 2018
CBRE announces the sale of Edge 1120, a 590-bed, student housing community serving University of Toledo. William Fideli Investments purchased the asset from a Diamond Realty Investments, Inc./The NRP Group joint venture for an undisclosed price.
Located at 1120 North Westwood Avenue, Edge 1120 is located adjacent to University of Toledo. With current enrollment at 20,000, University of Toledo is expected to increase enrollment by 10 percent or 2,000 students in the next 10 years.
“Edge 1120 presented an exceptional opportunity to acquire the market’s highest-quality student housing community, located adjacent to University of Toledo, with an amenity package that rivals urban, class A conventional assets,” said Jaclyn Fitts, Director of National Student Housing at CBRE.
The property boasts outstanding amenity spaces and unique features, including group study areas with white boards and private nooks, and a custom group fitness studio with Fitness on Demand. Additional amenities include a resort-style swimming pool with lounge seating, covered pavilion with outdoor grill area, a gas fire pit, and a sand volleyball court. Unit amenities include wood-style plank flooring, large kitchens with islands and bar seating, granite countertops in kitchens and baths, modern designer cabinets with black appliances, and fully furnished units with leather-style furniture.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.