PROVO, UT—An 84-bed student housing property here has changed hands in a deal brokered by Marcus & Millichap Real Estate Investment Services. Alpine Court is located at 366 East 600 North, just two blocks south of the Brigham Young University Campus. Terms were not disclosed
The property, says Marcus & Millichap’s Daniel Shin, “has a great history of occupancy and has been well maintained. Units have recently been remodeled with new carpets and flooring, new baths and showers, updated light fixtures, new windows and fresh paint.”
Shin, an investment specialist in Marcus & Millichap’s Salt Lake City office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. He also secured and represented the local buyer. Situated on half an acre, the property is a BYU-approved student housing asset. The deal involved the 84-bed women’s student housing complex and a single family home located adjacent to the property. Built in 1964, interior renovations were completed in 2006.