TSB Realty closes sale of Riverfront Village, a 440-bed student housing property near the University of Alabama
BALTIMORE, MD — A joint venture organized by Alex. Brown Realty, Inc. and Atlanta-based owner-operator Student Quarters announced today it has acquired Riverfront Village, a 440-bed student housing property near the University of Alabama in Tuscaloosa. ABR Chesapeake Fund VI, a value-add real estate fund sponsored by ABR, invested $7.4 million in the joint venture.
Randall L. Calvert of TSB Realty represented the seller in the transaction.
The 192-unit property was built in 2014 and offers 1, 2 and 3-bedroom floor plans, all with bed-to-bath parity. Shared amenities include a resort-style pool, a two-story fitness facility, covered garage parking, computer labs, and study rooms. All units are fully furnished with private balconies, gourmet kitchens, hardwood-style flooring, and walk-in tiled showers.
For more information on this deal, read the full release here.