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University Overview
The Opportunity
Dominant Location: situated steps from the heart of University of Michigan’s Central Campus: The Diag.
High-Demand Unit Mix: comprised of a high-demand unit mix of studios, one- and two-bedroom units.
Strong Rental Upside: New ownership would be able to realize a substantial upside in rents as studios at 400 Maynard are priced $290 below the market average and one-bedrooms $372 below market average.
Attractive Access to Downtown: Only one block from State Street, 400 Maynard has unparalleled proximity to Ann Arbor’s bustling downtown with shops and restaurants attractive to the student population.
Downtown Core: The Property is zoned D1, indicating high-density, mixed use, pedestrian- focused properties proximate to the downtown core. An attractive covered land play opportunity for developers looking to be a part of this coveted Ann Arbor neighborhood.
Top-Tier University: ranked # 3 National Undergraduate Public University and boasts over 100 graduate programs listed in the Top 10 nationwide by U.S. News and World Report.
Nationwide Reach: The University of Michigan is the # 1 U.S. Public University as ranked by QS World Rankings and is the #2 in research volume among U.S. public research universities with over $1 Billion in federally sponsored research grants.
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CONTACT Us
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Investment Advisors
Mortgage Bankers:
Kevin Larimer
Senior Managing Director 248.341.3305 | kevin.larimer@berkadia.com
Detroit Office
260 E. Brown Street, Ste 150
Birmingham, MI 48009 Phone: 248.646.7701
Houston Office
2229 San Felipe Street, Ste 1600 Houston, TX 77019 Phone: 713.974.1300
Ben Harris
Senior Director 310.209.3236 | ben.harris@berkadia.com
Allan Freedman
Senior Managing Director 310.209.3243 | allan.freedman@berkadia.com
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The University of Michigan (U of M) is nationally recognized consistently for its academic prowess and research significance. In the fall 2024 semester, U of M enrolled over 52,800 students, its highest enrollment on record. Students come from all 50 U.S. states and nearly 100 different countries to its flagship campus in Ann Arbor.
As of fall 2023, U of M on-campus housing accommodates 8,960 undergraduate students across 17 residence halls and 2,393 graduate students. With roughly 97% of incoming freshmen choosing to live in residence halls, accommodation for others cannot be guaranteed. This low supply of on-campus housing leaves more than 73% of students in need of off-campus housing.
LOCATION
Chicago Office
125 South Wacker Drive, Ste 400 Chicago, IL 60606 Phone: 312.845.8500
Brandon Buell
Senior Managing Director 346.444.8982 | brandon.buell@berkadia.com
Peter Benedetto
Senior Managing Director 248.208.3462 | peter.benedetto@berkadia.com
QUICK STATS
Avg Unit SF
624
Avg Rent / SF
$3.49
year built
1962
Occupied
99%
518 East William Street Ann Arbor, MI University of Michigan
The Opportunity
Location
LOCATION
Contact
DOC CENTER
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Property
JASON KRUG
Senior Managing Director 248.341.3344 | jason.krug@berkadia.com
75 Units 77 Beds
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Dominant Location: situated steps from the heart of University of Michigan’s Central Campus: The Diag.
High-Demand Unit Mix: comprised of a high-demand unit mix of studios, one- and two-bedroom units.
Strong Rental Upside: New ownership would be able to realize a substantial upside in rents as studios at 400 Maynard are priced $290 below the market average and one-bedrooms $372 below market average.
Attractive Access to Downtown: Only one block from State Street, 400 Maynard has unparalleled proximity to Ann Arbor’s bustling downtown with shops and restaurants attractive to the student population.
Downtown Core: The Property is zoned D1, indicating high-density, mixed use, pedestrian- focused properties proximate to the downtown core. An attractive covered land play opportunity for developers looking to be a part of this coveted Ann Arbor neighborhood.
Top-Tier University: ranked # 3 National Undergraduate Public University and boasts over 100 graduate programs listed in the Top 10 nationwide by U.S. News and World Report.
Nationwide Reach: The University of Michigan is the # 1 U.S. Public University as ranked by QS World Rankings and is the #2 in research volume among U.S. public research universities with over $1 Billion in federally sponsored research grants.
KEVIN P. DILLON
Senior Managing Director 248.341.3309 | kevin.dillon@berkadia.com
77 Beds
75 Units
