|
|
Article: Two firms buy up student housing.(Business)(California companies are planning major renovations for more than 500 units, saying "students expect more")
- Article from:
- The Register Guard (Eugene, OR)
- Article date:
- March 12, 2008
CopyrightCOPYRIGHT 2008 The Register Guard. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Joe Mosley The Register-Guard
A group of Eugene apartment buildings with more than 500 student housing units among them have been purchased for a total of $16.8 million by a pair of Southern California investment companies that plan to renovate the buildings with about $5 million in upgrades this summer.
"Our goal, I guess, is to go in and put a ton of money into it and really make these things nice," said Andrew Boulton, acquisitions manager for MHE Properties of Marina Del Rey, Calif.
"We did a lot of market research," Boulton said. "We just found that Eugene as a whole has a lot of old, kind of run-down (student housing) properties. ...