Newmark Arranges Sale of Student Housing Asset Serving Washington University in St. Louis, Missouri

July 5, 2023 12:00 PM

Newmark announces it has completed the sale Everly on the Loop, a 209-unit, 428-bed student housing asset serving Washington University in St. Louis, Missouri. Newmark Vice Chairman and Head of Newmark’s Student Housing group Ryan Lang, Managing Director Jack Brett and Director Ben Harkrider, in cooperation with Vice Chairman Mac Crowther, represented the sellers, GMH and AGC, in the transaction. The buyer was R5.

“It’s clear that there is great reason to have confidence in the student sector as demonstrated by the sheer volume our team has transacted in just the last few weeks, closing more than $400 million,” said Ryan Lang. “We are pleased to execute on another high-profile asset on behalf of GMH and AGC.”

Built in 2017, Everly on the Loop is a high-rise student housing community that features fully furnished studio, 1-, 2- and 3-bedroom apartments with 100 percent bed-to-bath parity. The property’s in-unit amenities include washers and dryers, Smart TVs in each unit living room, granite countertops, wood-style flooring and bike storage. Community amenities include a fitness center, a rooftop deck with a pool and jumbotron, a yoga and spin studio, study rooms and a resident shuttle to the Washington University campus.

Located at 6105 Delmar Boulevard, Every on the Loop is situated in the pedestrian-friendly West End neighborhood of St. Louis, surrounded by various restaurants, bars and retail outlets. The property is just 0.49 miles from the Washington University campus and 3.7 miles from St. Louis University. Nearby attractions include Forest Park, the St. Louis Zoo, the St. Louis Art Museum and Missouri Botanical Garden.

Per U.S. News & World Report in 2022, Washington University was ranked number #15 in the National Universities category. Total student enrollment at Washington University is just over 17,000, with 90% of undergraduate students attending from out-of-state.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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