Burkely Buys Greensboro Student Properties

PTAA member Burkely Communities has continued to expand its student housing portfolio with the purchase of four properties in Greensboro. From a Triad Business Journal article:

Burkely’s Spartan Student Apartments LLC purchased Chancellor Park Apartments, Sterling Park Apartments, Spartan Crossing Apartments and Spartan Square Apartments.

Burkely paid $9.86 million for 24-unit Chancellor Park and 36-unit Sterling Park; $5.1 million for 40 units at Spartan Crossing; and $1.175 million for 12-unit Spartan Square.

Burkely bought Chancellor Park and Sterling Park from GBORO AG UNCG LLC, an entity of United Student Housing of New York City. Burkely bought the Spartan Crossing units from Greensboro’s Granwood Properties LLC and acquired Spartan Square from a separate LLC made up of Granwood members.