APARTMENT Amenities
Shuttle to Campus
24-HR Fitness Studio with Peloton Equipment
Gaming Lounge with Billiards
Online Payments Available
Tanning Beds
SimpliSafe System*
Business Center
Pet Friendly Community
Exclusive Resident Lounge with Fireplace
Resort-style Pool with Tanning Deck
Complimentary Wi-Fi in Clubhouse
Complimentary Coffee Bar
Community Amenities
PROPERTY INFORMATION
LOCATION
Visit Doc Center
1412 South Division Street, Salisbury, MD
2015
BUILT
200
BEDS
50
UNITS
Opportunity
Property Info
Location
Photo Gallery
Contact
Doc Center
Privacy
Terms of Use
PHOTO GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Brandon Buell
Senior Managing Director – Student Housing
346.444.8982 | brandon.buell@berkadia.com
Kevin Larimer
Senior Managing Director - Student Housing
248.341.3305 | kevin.larimer@berkadia.com
BERKADIA STUDENT HOUSING TEAM
CONTACT Info
Mortgage Bankers
Aaron Moll
Senior Director
248.208.0529 | aaron.moll@berkadia.com
Peter Benedetto
Senior Managing Director
248.208.3462 | peter.benedetto@berkadia.com
28411 Northwestern Highway,
Suite 300
Southfield, MI 48034
Phone: 248.646.7701
Detroit Office
2229 San Felipe Street,
Suite 1600
Houston, TX 77019
Phone: 713.974.1300
Houston Office
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
1. Strong Rent Growth and Occupancy The Gathering at Salisbury offers a new investor reliable revenue generation and future value appreciation. The market’s track record speaks for itself. Over the past 10 years, Rent Growth in Salisbury’s student housing market has increased 34% and Occupancy has maintained an average of more than 96%. 2. Exceptional Pre-Leasing A new investor will assume ownership of The Gathering at Salisbury with a considerable and lucrative head start. Pre-Leasing for the 2024/2025 academic year is well underway achieving 97% pre-leased by early March, further validating the inherent demand and viability of this high-performing asset.
3. Top University Rankings U.S. News & World Report ranks Salisbury University among the top 20 “Public Universities in the North” as well as the top 30 “Best Value Universities in the North.” These prominent rankings serve to attract a dependable renter pool of university staff and students to the property each year.
4. $4 Million USDE Grant Over the next four years, Salisbury University will receive a share of a nearly $4 million grant from the U.S. Department of Education that will directly support this year’s freshman cohort, one of the largest in university history. This considerable cash influx will benefit the property in attracting and retaining staff and student residents.
5. Best-in-Class Amenities The Gathering at Salisbury features an amenities package that can truly be described as best-in-class. Open-concept, townhome-style apartments offer fully equipped kitchens, private bedrooms, hardwood-style floors, white-marble countertops and more. Luxury amenities include a resort-style pool with sundeck, 24-hour fitness center, tanning beds, complimentary coffee bar, clubhouse and business center, to name just a few.
6. Salisbury Experiencing Significant Growth Salisbury has been recognized as the 10th fastest-growing metro in the U.S. from 2023 to 2024. Additionally, it has been recognized as one of the top 100 best places to live by U.S. News. This growth is reflected in the rental market, with rents in Salisbury increasing by 18.5% over the past three years. This is 4% higher than the national average. Furthermore, according to CoStar, the conventional occupancy rate in Salisbury is consistently high, averaging around 95%.
THE OPPORTUNITY
Private Bedrooms & Bathrooms
Fully Furnished Homes
24-Hour Emergency Maintenance
White Marble Countertops
Stainless Steel Appliances
Kitchen Island
Hardwood-style Floors
Full-size Washer & Dryer
Oversized Walk-in Closets
Patio
*In select homes.
Located in Salisbury, Maryland, Salisbury University “SU” is a public university with an enrollment of more than 7,000 students. SU offers a wide range of undergraduate and graduate programs across various disciplines, including business, education, liberal arts, sciences, health sciences, and more. The university is known for its strong programs in fields such as nursing, education, business, and environmental science. On-campus housing can accommodate around 2,200 students, leaving nearly 70% of students in need of off-campus housing.
University Overview
1,636 SF
Avg Unit SIZE
$1.90
avg Rent / SF
0.23
Miles to campus
Andy Wimsatt
Senior Managing Director -DC Metro 301.202.3571 | andy.wimsatt@berkadia
Steve Skok
Managing Director
312.845.5164 | steve.skok@berkadia.com
BACK TO TOP
More Student Housing Opportunities
Trevor Friday
Associate Director 248.341.3307 | trevor.friday@berkadia.com
Visit Doc Center
Visit Doc Center
LOCATION
property info
opportunity
MENU
Terms of Use
Privacy
PHOTO GALLERY
CONTACT
DOCUMENT CENTER
D.C. METRO
DREW WHITE
SENIOR MANAGING DIRECTOR 202.294.6976 | drew.white@berkadia.com
CARTER WOOD
SENIOR DIRECTOR 804.350.2109 | carter.wood@berkadia.com
COLE CARNS
DIRECTOR
804.878.1258 | cole.carns@berkadia.com