However, it was a little surprising that just this month, two Columbia College-affiliated student housing properties have been bought and sold to investors. First, Crain's reported that the student apartment tower at 777 South State is being purchased for $85 million. Five days later, Crain's reveals that the Dwight Lofts facility, only a few blocks away, is being purchased for $105 million. The two purchases don't seem to be related, although both properties are privately owned but come with multi-year contracts for Columbia to lease all-or-most of the units. Crain's describes both as safe investments due to the contractual lock-in with Columbia, but it's not hard to wonder if there could be something bigger going on.
Regardless of the residential market, it seems like student housing has remained pretty constant in the Sloop. We're fans of the students. We know some aren't.
Anyone have thoughts on student housing. Good or bad?