purchases student housing

Nelson Brothers purchases student housing property near West Virginia University for $39 million


The Aliso Viejo-based real estate company specializing in private student housing has grown more than 200% the past two years while expanding into its 13th state.

ALISO VIEJO, Calif. – Nelson Brothers Professional Real Estate has expanded into Appalachia with the purchase of a Class ‘A’ student housing property near West Virginia University for $39 million.

With the acquisition of Mountain Valley Apartments in Morgantown, Aliso Viejo-based Nelson Brothers now has 35 student housing properties in 13 states.

Nelson Brothers, a 10-year-old family-owned company that specializes in the niche market of private student housing, has now completed deals on seven properties with a combined value of $98 million this year. In 2016, Nelson Brothers closed on 10 properties, with $136 million in acquisitions. Overall, Nelson Brothers has grown the value of its portfolio more than 200 percent in the past two years.

“This is an incredibly exciting time at Nelson Brothers,” CEO Patrick Nelson said. “We’ve been continuing to expand and diversify our portfolio to provide more students with the best possible off-campus experience, and to provide more opportunity for our investors.”

Mountain Valley Apartments is a 344-unit, pet-friendly student housing property that consists of 14 predominantly four-story apartment buildings. The property was built in 1998 has averaged over 97 percent occupancy for the past three years.

“We love this property,” said Nelson Brothers co-founder and principal Brian Nelson. “It has a great track record in a terrific market. Really, it’s the positioning. I think it’s a rare find for a property to boast such comprehensive amenities and spacing with such a compelling unit mix of 1, 2 and 3 bedrooms. We feel that attracts a high-quality student tenant. Right away, Mountain Valley will have one of the highest retention rates in our entire portfolio.”

Mountain Valley’s amenities include a 24-hour fitness center, a resort-style swimming pool, a full-size gym, a volleyball court, an off-leash dog park, a cyber cafe, a game room/media lounge and an outdoor picnic and grilling area.

Mountain Valley has also recently been certified under the Green Building Initiative, a nationally recognized green-building certification program, for its sustainability features and practices. Mountain Valley received Green Globes for its apartments, its clubhouse and its gym.

About Nelson Brothers

Nelson Brothers Professional Real Estate LLC, offers individual investors direct ownership interests in institutional quality, professionally managed real estate. The company, founded by brothers Patrick Nelson and Brian Nelson, focuses on targeted growth opportunities and value-added investments for its clients through capital improvements, cost efficiency, and revenue maximization. Its entities include Nelson Brothers Professional Real Estate LLC, Nelson Brothers Property Management Inc, and Nelson Brothers Construction Management LLC. Nelson Brothers Professional Real Estate specializes in the acquisition, financing and ownership of real estate investments in the niche area of student housing.

Brian Nelson
Principal and co-founder

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