The Michaels Organization has completed the acquisition of The Den, an off-campus student housing community located in Columbia, MO, at the University of Missouri.
“The University of Missouri is experiencing strong enrollment growth, with freshman enrollment increasing 16%. With the acquisition of The Den, the investment partnership has the opportunity to enhance the current resident experience while catering to the growing enrollment,” said Kevin Gates, Vice President of Funds & Portfolio Management at The Michaels Organization.
The garden-style community developed in 2014 consists of 158 units and 552 beds available in two and four-bedroom floor plans. Property amenities include a resort-style pool, fitness center, computer room, clubhouse, and a shuttle to campus.
The acquisition marks the third partnership between The Michaels Organization and Capital Solutions, Inc. in the student housing asset class, following a joint venture on Squire Hill Apartments in Harrisonburg, VA, at James Madison University completed earlier this year.
Terms of the transaction were not disclosed.
