Following the delivery in Fall 2022, Revery faced operational challenges including management transition and reoccurring water damage resulting in offline units. Since acquiring the asset in Dec 2025, Ivy Capital has invested $3.25M in remediation and upgrades, restoring inventory and driving occupancy to 95% for Fall 2026.

Revery offers significant organic rent growth potential, with in-place rents 6.0%–11.5% below comparable properties across unit types. A planned $616,000 enhancement program is expected to support 12%–15% rent growth for Fall 2027 and generate an estimated 106% direct ROI as rents are repositioned toward direct comparable levels. 

Mississippi State University benefits from one of the most supply-constrained student housing environments in the SEC, with just 504 beds underway versus a 3,462-bed peer average. Strong Fall 2026 fundamentals—including 93.0% occupancy and 6.0% year-over-year rent growth—further support continued demand and rent growth in Starkville. 

Mississippi State University provides a deep and growing demand base, with record Fall 2025 enrollment of 23,563 students and a 4,049 incoming freshman class—up 12.6% year over year. With just 5,742 on-campus beds, approximately 76% of students seek off-campus housing.