Tailwind Group and its partners announced today its acquisition of two student housing properties: South Duff Apartments in Ames, Iowa and The View in Lincoln, Nebraska.
Randall Calvert of TSB Realty brokered the deals.
Both assets successfully closed on May 26th and represent the second and third student housing acquisitions for Tailwind Group in 2022. Both properties were purchased from RCLCO.
South Duff Apartments is a 490-bedroom, garden-style community located adjacent to Iowa State University. It will join The Quarters Ames as the second property owned and managed by Tailwind Group in the Iowa State market.
The View is a 590-bedroom, garden-style community located near the University of Nebraska-Lincoln. It will join LivRed as the second property owned and managed by Tailwind Group in the Nebraska market.
“Both assets fit very well in our value-add portfolio. They have stable occupancies, are in markets we believe in, and have excellent on-site management teams. We believe that injecting our management and leasing strategies along with completing needed capital improvements over the next 3-5 years, these two properties will provide stable returns and valuations will increase,” said Brandon Smith, Vice President of Operations & Development for Tailwind Group.