Park7 Group Purchases Student Housing Land

COLUMBIA, SC – CBRE|Columbia has represented Park7 Group in the purchase of four acres of land located at Blossom and Huger Streets. The 237 unit, five story student housing project will house 640 students and will include an attached parking garage as well as swimming, fitness and other amenities.

The property has been owned by Arnold Family Real Estate since 1963 and has been under contract for student housing on multiple occasions. “Persistence and patience from the Buyer and Seller, combined with a creative tax incentive lead by the City of Columbia allowed this transaction to be completed,” stated Martin Moore, CCIM, SIOR, and Executive Vice President with CBRE|Columbia.

Construction is expected to begin this summer with a completion date in the Spring of 2016.

About CBRE|Columbia
CBRE|Columbia is a CBRE affiliate office serving South Carolina. The firm assists real estate owners, investors, and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services, investment management; research and investment strategy and consulting. Please visit our website at www.cbre.com/columbia.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.