SALMANSON CAPITAL ACQUIRES OFF-CAMPUS STUDENT HOUSING NEAR UNIVERSITY OF NEBRASKA FOR $7.65 MILLION
MANHATTAN, NY – March 9, 2011 – (RealEstateRama) — Salmanson Capital, LLC, a Manhattan-based real estate firm that specializes in the acquisition and repositioning of student housing assets, has acquired an off-campus student housing complex serving University of Nebraska undergraduate students for $7.65 million.
Located in Lincoln, Nebraska, Claremont Park Apartments is a 103,000 square-foot, eight-building apartment complex that includes 238 beds in 88 separate units. The complex, which is 100% leased, is four blocks from campus and offers residents more comforts and amenities than other off-campus housing options in Lincoln.
“Claremont Park Apartments is widely regarded as the most desirable residential option for students within walking distance of campus,” said David E. Salmanson, President of Salmanson Capital. “The property has been extremely well maintained by the previous owners and residents have access to a pool, basketball court, fitness center, covered parking and other amenities. We plan to upgrade the infrastructure even further to ensure our residents’ enjoyment of the property and add value to the asset.”
Since acquiring the complex, Salmanson Capital has begun wiring all units for cable and Internet and launched a newly-designed website. A newly-created affiliate of Salmanson Capital, University Capital Management, LLC, will manage the property.
The new acquisition brings Salmanson Capital’s student housing portfolio to 344 apartments containing 942 beds, including Campus Hill Apartments, a 256-apartment, 704-bed rental complex at Syracuse University.
Salmanson Capital is aggressively seeking to acquire additional off-campus student housing properties. For more information on Salmanson Capital, visit www.salmansoncapital.com.
About Salmanson Capital, LLC
Formed in 2006, Salmanson Capital, LLC is a Manhattan-based real estate investment company that specializes in acquisition and repositioning of student housing assets throughout the United States. The company strategically focuses on the best-located apartment complexes, looking to acquire properties in markets that possess advantageous demographics and high barriers to entry. Through a combination of technological and physical improvements, as well as sophisticated on-site management, the company creates value by upgrading its properties. The result is a brand identity that identifies Salmanson Capital’s properties as a premier destination for students in the marketplace.
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