The Vic - UNC Greensboro (SH)_Property for Sale
The Vic - UNC Greensboro (SH)_Property for Sale
705 Milton Street, Greensboro, NC, 27403, US

The Vic - UNC Greensboro (SH)

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present The Vic (the "Property"), a 297 unit / 790 bed student housing community located in Greensboro, North Carolina. The Vic was delivered in two phases, the first in 1972 and the second in 2009. The Property offers a mix of 1-bedroom through 4-bedroom floorplans with best-in-class amenities. Since acquisition, ownership has infused over $1.5M in meaningful upgrades to the Property, enhancing The Vic's presence in the market.


The Greensboro student housing market primarily serves the student body populations of University of North Carolina, Greensboro ("UNCG") and North Carolina Agricultural and Technical State University ("NC A&T") whose combined enrollment has grown to over 31,000.


The Greensboro student housing market is 95% occupied and there are no off-campus student housing beds in the development pipeline. These strong demand fundamentals have led The Vic to achieve 95% occupancy for the 23/24 AY. The Property is also 85% preleased for the 24/25 AY as of July 8, 2024 and is expected to continue its strong preleasing performance over the summer months. 


The Vic presents a unique opportunity with assumable financing at a significantly lower interest rate than current market rates. This feature enhances the attractiveness of the deal by reducing the cost of capital, potentially increasing cash flow and improving overall return on investment for investors.

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Attributes

Units
297
Occupancy
94%
Year built
1972
Year renovated
2009

Media

Investment highlights

  • The Greensboro student housing market encompasses both UNC-Greensboro and NC A&T, which have a combined student body of over 31,000.


  • Recent renovations have enhanced the Property, creating a unique opportunity for the owner to maximize returns.


  • The Vic presents qualified investors the opportunity to acquire an asset with attractive assumable debt with a fixed interest rate of 4.51%.


  • Situated within North Carolina’s vibrant Piedmont Triad region, the city of Greensboro offers a dynamic environment with a population of 300,000 residents. 
The Vic - UNC Greensboro (SH) 4_Property for Sale
The Vic - UNC Greensboro (SH) 4_Property for Sale

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The Vic - UNC Greensboro (SH) (0 Properties)

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Last updated
Jul 9, 2024