Champion Real Estate Company (“Champion”), announced that it has acquired Salisbury Campus Apartments, a five-building student housing community near Purdue University at 300, 310 and 318 Salisbury Street and 229 and 235 Littleton Street in West Lafayette, Indiana.
Champion Salisbury, LLC, a subsidiary of Champion, will immediately begin renovations to the property once the current master lease with Purdue University expires in 2025. A short walk from the Purdue University campus, Victory on Salisbury will feature new paint, vinyl plank flooring, cabinetry, quartz countertops, stainless steel appliances and modern fixtures. It will be leased by the bedroom and all bedrooms will be fully furnished including televisions and soundbars.
“Occupancy and demand have never been greater at student housing communities that support premier educational institutions like Purdue University,” said Garrett Champion, Executive Vice President with Champion Real Estate Company. “We will continue to make strategic student housing acquisitions at Tier 1 universities with supply constraints and strong fundamentals.”
Scott Clifton of JLL represented Champion Real Estate Company and seller. Champion now owns and operates 15 student housing communities encompassing more than 4,300 beds at eight universities.
Founded by Bob Champion in 1987, Champion Real Estate Company is a family operated company which invests its own money alongside third-party investors across the risk spectrum of real estate in key primary markets across the United States. Over the past 20 years, Champion has achieved over a 20 percent annual compounded return on investor equity by acquiring core plus, value add and opportunistic multifamily, retail, office, student housing and mixed-use properties.
