Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2013
Building Area
Land Area ()
Number of units 244

Property Description

Jones Lang LaSalle (JLL) has been exclusively retained to offer qualified investors the opportunity to purchase Aspen Heights Murfreesboro, a 244-unit, 750-bed student housing community at Middle Tennessee State University. With enrollment nearing 22,000 for the 2020/2021 Academic Year, Middle Tennessee State University is on the upside in terms of enrollment growth.

Aspen Heights Murfreesboro is located on Old Castle Drive, southeast of the MTSU campus and between John Bragg Highway and US-41. The property’s location not only provides students with expeditious access to campus, but to other parts of Middle Tennessee as well. Built in 2013, the property offers top-of-the line amenities for students including a 24-hour fitness center, California-style pool, volleyball court, private shuttle bus to campus and high-end interior unit finishes with large bedrooms and private bathrooms. Since 2017, Aspen Heights Murfreesboro has maintained a near 100% occupancy level in addition to successfully pushing average annual effective rents in excess of 5%. Per the November 2020 Axiometrics University Report, enrollment at Middle Tennessee State, which has capacity for up to 30,000 students, is expected to grow over the next several years. Aspen Heights Murfreesboro presents investors with the opportunity to purchase highly occupied and stable purpose-built property less than 40 miles from Nashville, a rapidly expanding economic hub. 

Investment Highlights

  • The only purpose built cottage-style community in Murfreesboro
  • High quality product with best-in-class amenities and finishes
  • Since 2017, the property has been nearly 100% occupied with average annual rent growth in excess of 5%
  • Developed by top tier developer, Aspen Heights
  • No new supply in pipeline
Last Updated Date: 08 Dec 2020
Teddy Leatherman
Teddy Leatherman
Director, Capital Markets
License details
TX-645273
Scott Clifton
Scott Clifton
Director, Capital Markets
License details
IL-475.17091

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+84869421324
Last Updated Date: 08 Dec 2020

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.