PHILADELPHIA – July 31, 2018 – Campus Apartments has acquired The Collection Midtown, a portfolio of 20 apartment buildings located within Richmond’s historic Fan and Museum District, for a reported $31 million. The acquisition represents the Company’s third investment in Richmond and expands on its decade-long operating history within the market.
The 219-unit portfolio consists of one-, two-, and three-bedroom floor plans within historic walk-up buildings that are conveniently located adjacent to Scott’s Addition, the fastest growing neighborhood in Richmond, and home to an array of popular restaurants, breweries, and entertainment venues.
“We’re excited to be furthering our investment in Richmond and believe that The Collection offers a truly unparalleled location,” said Mark Schundler, Senior Vice President of Investments for Campus Apartments. “Residents are able to enjoy a charming tree-lined neighborhood, while being just steps from a booming entertainment district. In many ways, it reflects the livability that has transformed Richmond into a millennial hotspot.”
About Campus Apartments
Founded in 1958, Campus Apartments is a vertically-integrated real estate company that acquires, develops, and operates student housing and millennial-oriented multifamily throughout the United States. With over $2.0 billion in assets under management, the Company’s portfolio consists of garden-style, mid-rise, and high-rise assets, as well as mixed-use and urban scattered-site housing.
For more information, visit www.campusapts.com and connect with Campus Apartments on Twitter and Facebook.