One of the city's first apartment complexes targeted at students has a new owner.
According to real estate records filed with the county Register of Deeds, a limited partnership bought The View at 301 W. Charleston Street last month for $13.3 million. Last year the assessed value of the property was $9.6 million. This year its preliminary value is $20.8 million, according to Lancaster County Assessor's records.Â
The limited partnership, according to the documents, is an affiliate of Starwood Capital Partners, a large private investment firm that also owns Gateway Mall.
Starwood officials declined to comment about the purchase.
A Feb. 2 story on the National Real Estate Investor website said Starwood bought four student housing properties the last week of January, but it didn't name them. According to the deed filed on the sale of The View, the deal closed on Jan. 28.
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The 156-unit complex opened in 2003 as Sterling University Stadium View Collegiate Residences. It was thought at the time to be the first complex in the city to offer individual leases on multi-bedroom units, something that is common in student-oriented projects today.
The complex was sold in 2005 to GMH Communities and again in 2008 to American Campus Communities.