April 20, 2020 11:00 AM
Newmark announces the sale of The Retreat at Oxford, a 268-unit, 1,018-bed value-add student housing asset, located one mile from the University of Mississippi. Newmark Vice Chairman and head of the Student Housing Group Ryan Lang and Associate Director Jack Brett, in cooperation with Vice Chairman Blake Pera and Senior Managing Director Bo Flurry, represented the seller Greystar, an international real estate developer and manager based in Charleston, South Carolina. The asset traded to The Tailwind Group, a Minnesota-based real estate developer, for an undisclosed price. Newmark Transaction Manager Ben Harkrider provided crucial support to assist on the transaction.
“The asset is a proven performer and is highly differentiated within the submarket given its large floorplans and cottage-style makeup,” said Ryan. “The Retreat at Oxford’s easy access to campus and downtown provides The Tailwind Group an excellent opportunity to capture economies of scale through their strong development platform.”
The property is surrounded by a variety of restaurants and retail stores and is minutes from Downtown Oxford, an area also known as “The Square”. The Retreat at Oxford provides student residents with a comprehensive experience, including convenient community amenities such as a large clubhouse with a game room and study areas, one of the largest resort-style pools in the market, a CrossFit gym and a computer lounge. In-suite features include optional furniture packages, 100 percent bed-bath parity, stainless steel appliances, granite countertops and wood-style flooring.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
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