The Park on Morton

Indiana University
152 Units | 472 Beds

TSB Realty was engaged by Coastal Ridge Real Estate to sell The Park on Morton in Bloomington, Indiana, via an off-market process directly approaching known core buyers of student housing. TSB Realty secured multiple offers for the property from proven buyers. The property was successfully sold in 2018 to affiliates of The Preiss Company and TH Real Estate. Preiss will manage the property. TSB Realty had previously sold the property to Coastal Ridge Real Estate, and TSB Capital Advisors was involved in securing the debt and JV equity for the original developer.

Property Summary
• Class A student living community
• 152 Units | 472 Beds
• Year Built: 2013
• Deal closed: 2018

Property Amenities
• Pedestrian to Indiana University campus
• Luxurious community clubhouse
• Resort-style pool and sun deck
• 24-hour, state-of-the-art fitness center

Property Description
Located on the western edge of Indiana University’s Bloomington campus, The Park on Morton offers residents a short walk to classrooms, libraries and on-campus eateries, as well as the best-amenitized off-campus housing option in the market. Featuring a mixture of one-, two-, three-, and four-bedroom units, amenities include spacious floor plans, washer and dryer in each unit, private bathrooms for all bedrooms, granite countertops, hardwood flooring, plush carpeting and more. In addition, residents can enjoy a luxurious community clubhouse, resort-style pool and sun deck, state-of-the-art 24-hour fitness center, game room, multi-level parking deck, controlled access entry and cozy fire pit area.