CEV Murray is a 248-unit / 898 bed student housing property spread over two buildings in Murray, KY. The properties are approx. 1 mile from Murray State University campus and 1 mile from the Walmart supercenter retail corridor. Fall 2021 marks the third consecutive year that applications and freshman-class sizes have increased. As of the fall of 2021, the market achieved an average occupancy of 96% leaving over 87% of Murray State students without living accommodations and the supply pipeline remains empty. The project offers investors an exceptional and unique value-add opportunity through a captive asset class and an overall improvement in operating efficiency.

Purchase Price: $23,023,375 (May 2022)
Equity Cost: $9,048,375
Initial Annual Yield: 8%