Campus Realty Advisors has acquired The Beacon, a 456-bed, 158-unit student housing community in Marietta, Ga. BWE arranged the acquisition financing, while Campus Realty Management will manage the community.
Completed in 2022 near Kennesaw State University’s Marietta campus, the property is fully leased for the fall 2023 school year. Tuckercraft served as the general constructor for the project, Rosemann & Associates as structural engineer and Crosby Design Group acted as interior designer.
Located at 315 Freys Gin Road, just half a mile from Kennesaw State’s campus, the 211,000-square-foot community features one- to four-bedroom units, ranging between 721 and 1,470 square feet. In-unit amenities include granite countertops in kitchens and bathrooms, private bedrooms and bathrooms, full-size washers and dryers, vinyl wood plank flooring, smartphone access to unit doors, stainless steel appliances and LED lighting.
The Beacon also features private study rooms, a yoga room, a fitness center, a swimming pool, package delivery lockers, 466 free parking spaces and a 12,700-square-foot clubhouse.
BWE’s Debt and Equity Advisor Chris Carroll and Analyst Max Miller worked on behalf of the buyer. Earlier in June, the company secured another, $36 million acquisition loan for Campus Realty for The Monroe, a student community at Indiana University in Bloomington, Ind.
