REO | Student Housing Opportunity | The Commons on Pratt

Property Tours

Property tours are now being scheduled.   Please contact the Cushman & Wakefield team to arrange your tour. 

Investment Highlights

• Value-Add Opportunity: Investors can continue current ownership’s interior improvements to maximize rents and stabilize occupancy.
• Excellent Location:  Immediately adjacent to the IUP campus, with the Eberly College of Business across the street and the Athletic Center, Health Center, Folger Dining Hall and the football stadium all within a block of the Property.
• Acquisition Below Replacement: The Commons on Pratt is a prime acquisition target for student housing buyers, as development prices continue to explode and labor and materials climb.
• Well Maintained Asset:  The Property has been well maintained creating an outstanding opportunity to acquire a quality asset at an extremely attractive basis.

Offering Summary

The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with RI Marketplace, is pleased to present for sale of The Commons on Pratt, a 134-unit, 135-bed, student housing apartment community at the Indiana University of Pennsylvania (IUP). This Property is situated directly adjacent to IUP with immediate access on the south side of campus. Built in 1968 and renovated in 2017, The Commons on Pratt offers an outstanding opportunity to invest in a well maintained, quality asset, at an extremely attractive basis below replacement costs in a market with no forward development pipeline.  

The Commons on Pratt is a 4 story, 47,012 SF muti-family asset (21,432 RSF) containing 133 efficiency units, plus 1 two-bedroom unit. The Property was constructed in 1968 as an off- campus dormitory catering to students of IUP. Each unit is offered furnished including a miniature refrigerator and microwave. Each floor is fit out with a community kitchen and an additional tv / game room and pay washers and dryers are available to renters located in the basement. Eighteen (18) of the units share a central bathroom and the remaining 116 units have private bathrooms.