Marcus & Millichap Brokers $150 Million Student Housing Portfolio Sale, Largest Ever in Illinois’ Champaign-Urbana Market

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced it has brokered the $150 million sale of a portfolio comprising over 50 student housing properties totaling nearly 1,100 units near the University of Illinois Urbana-Champaign campus in Champaign, Ill.

The transaction, which closed in four tranches, set several records in Champaign County, including the highest-ever portfolio sale price, as well as the largest number of units, bedrooms and buildings in a single portfolio sale. Together, the buildings total 863,961 square feet and range from single-family rental homes to traditional student housing apartments, with the newest property being constructed three years ago and the oldest more than 50 years old.