Student Housing Complex Near Kutztown University Sells for $20.1 Million

 By Javon Roach CoStar Research

A student housing complex near Kutztown University in Kutztown, Pennsylvania, has sold for $20.1 million.

DLP Real Estate Capital acquired the student housing complex, called Edge at Kutztown, from a private investor.

Edge at Kutztown is located half a mile from Kutztown University and a mile from downtown Kutztown at 2200 Lifestyle Lane. Built in 2008, Edge at Kutztown includes 522 beds across 184 units. Its amenities include a clubhouse, patio with grilling area, package receiving area, pool table, bike racks and vending machines.

"The Philadelphia region has had limited true value-add opportunities like the Edge at Kutztown. As a result, we had robust interest in the opportunity across the spectrum of investors. We conducted more than 20 tours and had a significant number of bidders."

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