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SOUTH BEND, IN-Prime Property Investors Ltd., a Northbrook, IL-based company, has purchased 20 apartment buildings near the University of Notre Dame. According to Prime executives, this is the largest student housing transaction ever to happen near the school. The seller and purchase price was undisclosed.

The 11-acre property, dubbed Turtle Creek Apartments holds 330 beds. Prime plans to re-brand and reposition its acquisition; and has renamed the property Clover Village. All 20 buildings will receive a significant capital infusion to turn the property into the premier student housing location in the area. The multi-million renovation should be finished by this fall.

Part of this renovation project is a newly designed club house and fitness center, Co-CEO Michael Zaransky says it will be “unlike anything the Notre Dame-South Bend market has ever seen and will make the property the talk of the campus.” The property is 100% occupied.

With this acquisition, Prime becomes the largest student housing owner in the area immediately surrounding Notre Dame. The company also owns Clover Ridge Apartments, located at 1801 Irish Way. Prime also owns student housing near, Purdue University, West Lafayette, IN; Florida State University, Tallahassee, FL; University of Tennessee, Knoxville TN; University of Nebraska, Lincoln, NB; and Indiana University, Bloomington, IN.

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