NB Private Capital has purchased of The Nine at Memphis, a Class A, 114-unit, 385-bed student housing property located adjacent to The University of Memphis that was built in 2017. The property was acquired for $32.1 million on behalf of a Delaware statutory trust offering for 1031 exchange investors.
According to Brian Nelson, NBPC founder and president, “The Nine has almost everything we look for in student housing. It’s adjacent to campus, a gorgeous Class-A property, has an excellent layout, and is located in the safest, most secure area around campus.”
NB Private Capital LLC, an investment firm founded by Brian Nelson – previously of Nelson Brothers Professional Real Estate – specializes in the acquisition, financing, and ownership of student housing properties.
Since re-launching as NB Private Capital, the firm has acquired $350 million in student housing properties and raised over $180 million in investor equity. The company currently manages more than $850 million in multifamily housing real estate.