Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Year Built 2016
Building Area Net
Land Area Net ()
Number of units 166

Property description

Jones Lang LaSalle, L.P., JLL Real Estate Limited (collectively, “JLL) is pleased to present Aspen Springfield (the “Property”), a fully occupied, mid-rise student-living community located 2 blocks north of campus at Missouri State University (“Missouri State” or “MSU”) in Springfield, MO. In addition to its pedestrian location to the 24,000 student MSU, the Property is a convenient walk to the nightlife and retail corridor of downtown Springfield which is less than a 10-minute walk west.

 

In conjunction with the unbeatable location, a best-in-class amenity offering has aided the Property in leading the market in occupancy for Fall 2021 at nearly 100%. Bold and sophisticated amenities such as a resort-style pool, 24-hour fitness center, walk-in closets, and granite countertops are a sampling of the features which have made Aspen Springfield the market’s most popular asset. With projections indicating the MSU enrollment continuing to expand and the off-campus bed pipeline suggesting no deliveries through at least Fall 2025, Aspen Springfield is perfectly positioned to push the market’s rent ceiling while building upon a staunch performance history.


Investment highlights

-         Walkable to Campus & Downtown – Aspen Springfield is two blocks north of the MSU Campus, a 10-minute walk to downtown Springfield

-         Market’s Most Popular Asset – Aspen Springfield is the best-occupied asset in the market while also achieving some of the highest rents by comparable floorplan

-         Ideal Fundamental Projection – Enrollment is projected to grow each year through 2025 with no deliveries anticipated in the market during that same timeframe

-         Strong Operating History – The Property averaged 93% occupancy from January 2019 to August 2021, demonstrating student-renters’ desire to live at Aspen Springfield regardless of in-person instruction being held

-         Ascending University Profile – Record-high graduate student enrollment along with significant growth in international enrollment speak to Missouri State becoming an in-demand school from a global perspective

Last Updated Date: 07 Jan 2022

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Last Updated Date: 07 Jan 2022

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