Student housing community near Oklahoma State University sells

Cardinal Group, a real estate company based in Denver, Colo., has purchased student housing community Midtown Stillwater, located at 801 W 4th Ave. in Stillwater, Okla., for an undisclosed price. The 221-unit, 823-bed property is situated steps away from Oklahoma State University’s Student Union.

Sean Baird, senior vice president, and Jonathan Holt, senior vice president, of Colliers’ Student Housing Team, and Logan Weaver, vice president, Grant Kollman, senior vice president, and Charlie LaBarr, vice president, from Colliers’ Kansas office facilitated the transaction. Real Equity Management was the seller.

“Cardinal Group is one of the top ownership and management companies in student housing, and Midtown Stillwater fits in perfectly with Cardinal’s ownership of high-quality core assets serving Power 5 universities,” Baird said. “Midtown provided an unbelievable operational opportunity rarely found at top-tier communities in Power 5 markets.”

Built in 2017, Midtown Stillwater is one of the most recently built and best-located student housing assets in the Oklahoma State University market. The community is comprised of one-, two-, three- and four- bedroom unit configurations with bed-to-bath parity. Community amenities include a rooftop state-of-the-art fitness center, pool, sun deck and view of campus, as well as a large study center, private meeting rooms, grilling stations and outdoor volleyball court.

Oklahoma State University is one of the fastest-growing, top-ranked universities in the United States and is classified as a Carnegie R1 research university. The University also has highly successful NCAA Division I athletics and is well-known for its football and basketball programs.

“This transaction is aligned with the trend in flight to quality we’re seeing to assets in Power 5 conferences, where universities have demonstrated historical enrollment growth, coupled with strong year-over-year rental rate growth,” Baird said.

Cardinal Group is a fully-integrated real estate management, investment, construction and marketing firm focused on multifamily housing throughout the country. Since 2008, the company has been operating successful partnerships and is focused on creating efficiency and above-market performance via its commitment to growth and by challenging the status quo of the multifamily industry.

Media Contact:
Noelle Fox
noelle@truebluecommunications.com

About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.