Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present the opportunity to acquire BlockOne (the "Property," "Properties," or "Portfolio") at Iowa State University ("ISU" or the "University"). The BlockOne offering is comprised of three adjacent buildings — 23 Twenty, The Edge, and University Towers— all located on the same block comprising 261 units and 793 beds adjacent to Iowa State University.

BlockOne has been 90%+ preleased since mid-November 2025 for the 2026-2027 Academic Year ("AY"), and preleasing velocity was 20%+ ahead year-over-year ("YoY"). Despite tracking to 6%+ rent growth for the 26/27 AY, the potential rent growth is still untapped as there are numerous floorplans that have between $100–$410/month differences between the first and final leases signed.

Iowa State competes in the Big 12, Power 4 conference, and enrollment expanded by 673 students YoY to a total of 31,105 students in Fall 2025. New first-year enrollment has increased for five consecutive years, and a recent focus on full-time enrollment has led to the highest percentage of full-time students in history.

BlockOne is the best located student housing option in the market and offers stable cashflow with additional upside opportunities for a new owner.

Marcus Pitts: IA B43999100

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Caractéristiques de l'actif

Nombre d'unités

261

Occupation

95 %

Année de construction

2015

Surface de l'actif Net

27 724 m²

Taille du terrain Brut

1,42 hectare

Média

Points clés d'investissement

Fastest pre-leased asset in the market, significant rent growth available to next owner
Irreplaceable location at entrance to campus
3rd lowest average market rents in Power 4 (Significant rent growth available before new supply can be added)
No development pipeline