ILM Capital's Executive Team Members have been active owners and operators of off-campus student housing and multifamily properties throughout the country.
Our Current Portfolio includes:
Texas A&M University / blinn college
A luxurious community serving the students of Texas A&M University and Blinn College, was acquired in November 2013. This asset was constructed in 2009 and contains 864 beds. The property is over 97% leased for the 2014/2015 school year and is still undergoing various improvements in maintenance, staff, management and physical structure. Electricity caps were eliminated for the 2014/15 school year. $1 million is being invested to improve and update the clubhouse, re-paint the property, and cure deferred maintenance.
university of north florida / Florida State College at Jacksonville
A 1096-bed property, was acquired in March 2013. Prior to acquisition, the property struggled with chronic under-performance with physical vacancy of 18%+. ILM took a hands on approach to management to turn around the property. The property has undergone extensive renovations with ownership spending over $2 million to paint the property, replace all roofs, improve landscaping, upgrade the resort style pool, and add exterior lighting. Operational changes included adding a second school shuttle, eliminating short term leases, and reducing concessions. Furthermore, approximately 70 unit interiors have been updated including new lighting, flooring, and appliances. The property achieved over 90% occupancy for the 2014/2015 school year.
University of South alabama
Acquired in May 2015, on an off-market basis, this apartment community is a 165-unit, 522-bed complex located near the University of South Alabama. Built in 2012, the property is in excellent condition, with upgraded televisions in united, improved internet infrastructure and updated exterior remodeling. It is fully furnished and includes all the amenities that today's college student and young adult deserve in a luxurious apartment living experience.
Wilmington - North Carolina
Acquired in 2016, and built in 2001/2002, this 264-unit community with nine residential buildings and a clubhouse situated on 14.7 acres in Wilmington, North Carolina. The property is located in ideal proximity to Wilmington’s top demand drivers, with direct access to Wilmington’s vibrant downtown and beautiful recreational beaches, and within four miles of two colleges that have a combined enrollment of 30,000 students.
Fairborn - ohio
Located within close walking distance to Wright State University, this student asset wasacquiredin April 2017. Built in 2009, and situated on 14 acres in Fairborn, Ohio, this community includes 200-units, 657 beds, fourteen residential buildings, and a luxury clubhouse. A purpose-built student housing asset, providing bed bath parity in all unit types, the property also offers several unique market community amenities, such as 24/7 fitness center, resort-style pool, Wi-Fi hotspots throughout the clubhouse, private shuttle service to Sinclair College and Wright State University, sand volleyball court, recreation center with billiards, theater room, and an academic success center with iMac computers.
The property is perfectly situated just outside of Dayton’s growing historical and Downtown areas, providing some of the region’s very best entertainment, cultural and recreational opportunities. Downtown Dayton features more than 700 businesses, over 50 restaurants, 35 nightclubs and bars, 15 museums and galleries, and is home to the Dayton Dragons, the Cincinnati Reds minor league baseball affiliate.
Prior Portfolio Properties includes:
Wilmington - North Carolina
Located within close walking distance to the University of North Carolina-Wilmington campus, these two adjacent student assets were acquired simultaneously in October 2012. Containing 535 beds and providing luxury amenities at one of the best locations in the market. Approximately $3.5 million was invested to improve the property including ground-up construction of a new 7,000 square foot clubhouse. On the first floor, the new clubhouse included expanded fitness facilities, internet-connected laundry facilities, tanning, student rooms, lounge and leasing office. In addition interior unit renovations consisted of the installation of new flooring, and counter tops, new hardware, painting cabinets, and the addition of dishwashers. Exterior building improvements were completed throughout the community including stair tower renovations, new enclosures for HVAC equipment as well as other cosmetic improvements.
The property achieved a 10% rental increase and close to 100% occupancy in the first and second leasing seasons after acquisition.