Student Conversion Opportunity Below Replacement Cost

Due to its unit mix and location, Blue Haus is primed for a conversion away from student housing, to conventional multifamily, and could do so without the need for physical rehab.

Class-A product in Superior Location

Built in 2019, Blue Haus boasts top-of-the-line features and finishes and is walkable to Midtown Village’s 20+ restaurants including Chipotle, Panera Bread, Tazikis, and Five Guys, as well as its retailers such as Barnes & Noble, Best Buy and Old Navy.

Tuscaloosa Outperforms Peer Markets

Conventional product in Tuscaloosa has consistently outperformed peer markets in the state. Tuscaloosa’s vacancy rate on Class A & B properties is expected to average just 2.3% over the next five years, while rent growth is projected to average 4.5% during the same period.

Lack of Conventional Inventory

Only three conventional projects with more than 50 units have been delivered in Tuscaloosa over the past decade.  As a result, there is a shortage of quality conventional product.

Free and Clear

The property will be delivered free and clear of any existing debt.