Nelson Partners Buys Student Housing Asset for Nearly $200 Million

Nelson Partners, a real estate investment firm that sponsors Delaware statutory trust and tenant-in-common 1031 exchange offerings, has purchased Sol y Luna.

Nelson Partners, a real estate investment firm that sponsors Delaware statutory trust and tenant-in-common 1031 exchange offerings, has purchased Sol y Luna, a 14-story, 977-bed student housing property located adjacent to the University of Arizona, for nearly $200 million.

Built in 2013 and 2014, Sol y Luna has 341 units with 9,140 square-feet of retail space. The acquisition surpassed its previous largest acquisition, Skyloft in Austin, Texas, by nearly $100 million.

“We’re extremely excited to have acquired one of the most compelling and premier student housing properties not only in the Arizona market, but in the entire PAC 12,” said Patrick Nelson founder and chief executive officer of Nelson Partners. “Along with Skyloft, we now have the best student housing properties in the BIG 12 and PAC 12. It’s really an extraordinary time for Nelson Partners.”

Last month, Nelson Partners completed a full-cycle DST offering of the Auraria Student Lofts in Denver, Colorado that produced profits to investors in excess of 102 percent, according to the company. The firm also reported an IRR of 16.20 percent.

Nelson Partners is a student housing owner-operator with more than a decade of acquisition, management and development experience in student housing. The firm oversees 35 properties across 13 states totaling more than $800 million in assets under management and $400 million in development.

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