Located in Provo, Utah, just blocks from Brigham Young University, MHE, along with its partner, MJW Investments, purchased this 525 bed property in February 2016. The property had extensive deferred maintenance and the property underwent a dramatic capital improvement program along with a re-branding from University Villas to “Liberty on Freedom”, which added to the group’s “Liberty” brand in Provo.
Liberty on Freedom
In order to improve the property, MHE and MJW added a beautiful new sport court, converted a storage area to a gym and installed new state of the art equipment, updated student lounge, painted the property exterior, remodeled the office, dramatically enhanced curb appeal, added a fire pit and BBQ area, and updated each unit with new flooring, paint, fixtures, furniture and flat screen TVs. Additionally, MHE and MJW enhanced student programming and activities and increased the internet speeds in order to enhance the student experience. All of this, combined with new signs and logos has made the property a hit. The property reached 100% occupancy for the 2016/2017 school year. Students at BYU are really loving the Liberty brand.
PROPERTY DETAILS
- Asset Type:
Student Housing
- Location
Provo. UT (BYU)
- Average Unit Size:
850 Sq. Ft.
- Purchase Date
January 2016