ARTISAN Acquires College Town Oxford Student Housing Community at the University of Mississippi
04/30/2024
Chicago, IL, April 2024 – A partnership between ARTISAN Capital Group (“ACG”) & Monument Square Investment Group (“MSIG”) (collectively the “JV”) has acquired College Town Oxford (the “Property”).
The Property is a two phase 2013 & 2016-vintage, 1,018-bed (268-unit) cottage-style purpose-built student housing community located in Oxford, MS approximately 1.7 miles west of the University of Mississippi (“Ole Miss”) campus. The Property is an approximate five-minute drive to Ole Miss and is adjacent to the primary local retail corridor on Jackson Avenue. The Property offers a mix of two-, three-, four-, and five-bed detached townhomes ranging from approximately 1,400 SF to 2,400 SF. The townhomes each feature class-A interior finishes, private back yards and porches, and two to three stories of living space with a minimum bed-bath ratio of 1:1. The Property’s best-in-class amenity set includes: (i) a recently renovated 8,600 SF clubhouse with study rooms, entertainment spaces, a golf simulator, and tanning beds, (ii) a 6,250 SF pool deck with a resort-style pool, cabanas, hammocks and grilling stations, (iii) a recently renovated 3,800 SF fitness center, (iv) an 11,600 SF gated dog park, (v) six meadow parks totaling 3.2 acres, (vi) full-size basketball and sand volleyball courts, (v) a campus shuttle service, and (vi) a game day and night life shuttler service. The JV intends to implement additional interior and exterior improvements including adding an outdoor fitness area along with a grilling station. The Property is 98.9% occupied for the current 2023-2024 academic year (“AY”) and 100% pre-leased for the 2024-2025 AY. Ole Miss has experienced strong application and enrollment growth in recent years with freshmen enrollment increasing 17.4% and 24.7% year-over-year as of the 2023-2024 and 2022-2023 AYs, respectively.
About ARTISAN Capital Group
ARTISAN Capital Group (“ACG”) is a multifamily and student housing investment manager focused on acquisitions, asset management, property management and construction oversight for its capital partners. ACG's primary strategy is to provide superior risk-adjusted returns by acquiring multi-family and student housing assets in markets often overlooked and undervalued by traditional capital sources. The ARTISAN team believes in a hands-on approach to real estate investing and is intimately involved in each of our assets. From identifying deals to raising equity to optimizing asset performance, the partners at ACG lead the process while utilizing their collective 80+ years of experience.
About Monument Square Investment Group
Monument Square Investment Group is a Beverly Hills, CA-based privately held alternative investment manager focused on opportunistic U.S. real estate equity investments across its three core verticals. MSIG’s thematic investment approach is premised on identifying dislocations in the risk-return spectrum, acquiring assets that MSIG believes are undervalued by the capital markets and developing or repositioning assets that provide arbitrage-like risk-return profiles. MSIG leverages its differentiated investment theses and diverse network of strategic relationships to create joint ventures with best-in-class sponsors, aiming to consistently generate alpha throughout market cycles.