State on Campus, formerly known as Beechview Place Apartments, is a purpose-built, 420-bed student housing facility serving West Virginia University. Built on the PRT transit system and in walking distance of both downtown and campus, State on Campus offers a superb student living experience with amenities, including a courtyard with hot tub and yoga and fitness centers.
Despite upscale construction and a superior location, the building struggled to achieve stabilized occupancy. Ownership consisted of a regional builder and private funds from an active NFL Pro Bowl player, necessitating a private ‘off-market’ sale process. Michael Liguori and Andrew Sherry successfully sourced a student housing investor with whom they navigated past the complexity of the below-market occupancy to achieve an above-market rate valuation.
Michael Liguori and Andrew Sherry successfully sourced a student housing investor with whom they navigated past the complexity of the below market occupancy to achieve an above- market rate valuation.