Student Housing – STL

Key Investment Highlights

PRIME LOCATION

• 1.98-acre site located on Delmar Blvd., 0.3 miles north of Washington University in St. Louis
• Site has direct access to a dedicated walking path and pedestrian bridge and is a quick eight-minute walk to campus
• The project is located in a supply-constrained market with high barriers to entry

GROWING ENROLLMENT

• WashU experienced enrollment growth of more than 10% coming out of the COVID pandemic
• WashU’s 11% overall acceptance rate allows the university to selectively control its enrollment growth

LACK OF PURPOSE BUILT STUDENT HOUSING

• Only one other institutional quality, purpose-built student housing development at WashU exists, TheEverly, which delivered in 2017
• The Everly has experienced 5% YoY rent growth, and most recently is at 8.4% for 2024-2025, and has been at 95% occupancy since 2018
• Since its delivery, The Everly has been traded twice, most recently at $90.25 Million ($432k/unit)
• Currently, no other student housing units are planned for the WashU submarket, and no student/competitive multifamily projects are planned within one mile of campus

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Student Housing – STL

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Student Housing – STL
6630 Delmar Blvd
University City, MO 63130
United States

Disclaimer: The information contained herein is for informational purposes only and does not constitute an offer or sale or any form of general solicitation or general advertising of interests in any fund or investment vehicle. Any such offer will only be made in compliance with applicable state and federal securities laws pursuant to offering documents which will be provided to qualified prospective investors upon request. Prospective investors should review the offering documents carefully, which includes important disclosures and risk factors.

Risks and Limitations: the risks associated with making investment decisions based on targeted metrics is that they are targets. Commercial real estate investing is risky, and that means that the investment will not always play out according to expectations. Targeted returns involved multiple degrees of uncertainty and risk related but not limited to rental rates, lease expiration dates, occupancy rates, length of the investment period, exit cap rates, and interest rates. – Criteria and Assumptions- how a sponsor approaches the underwriting process (conservative, moderate, aggressive) may change the assumptions of the model which include targeted: cash yield, equity multiple, IRR, investment period and distribution rates