700 Howard St, Kalamazoo, MI 49006
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Western Michigan University, also known as WMU or Western, is situated just outside the vibrant downtown area of Kalamazoo. WMU is the largest four-year institution of higher learning in southwest Michigan, and the fifth-largest in the state overall. WMU offers over 250 degree programs to approximately 17,600 students while supporting more than 4,200 jobs. WMU is one of five Michigan universities to receive the Carnegie Foundation's top research designation. The university has an annual economic impact of approximately $1.6 billion in the region.
During the fall 2024 semester, campus enrollment totaled 17,605 students. Nearly 13,860 students were undergraduates, 2,945 of which represented the first-time, first-year freshman class of fall 2024. Additionally, there were 3,745 graduate students. On-campus housing is primarily for first-year students, leaving over 12,280 students in need of off-campus housing.
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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.
© 2025 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.
260 E. Brown Street, Ste 150
Birmingham, MI 48009
Phone: 248.646.7701
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Erin Wodehouse
Financial Analyst - Student 248.341.3333
erin.wodehouse@berkadia.com
Aaron Moll
Managing Director 248.208.0529 aaron.moll@berkadia.com
Steve Skok
Managing Director 312.845.5164 steve.skok@berkadia.com
Jennifer Ayers
Senior Transaction Manager 689.244.5554 jennifer.ayers@berkadia.com FL DRE SL3438021
Kevin Larimer
Senior Managing Director 248.341.3305 kevin.larimer@berkadia.com MI DRE 6501259415
Genna Jago
Marketing Project Manager 248.341.3336
genna.jago@berkadia.com MI DRE 6501434038
Brandon Buell
Senior Managing Director 346.444.8982
brandon.buell@berkadia.com TX DRE 617983
Peter Benedetto
Senior Managing Director 248.208.3462 peter.benedetto@berkadia.com
Trevor Friday
Director 248.341.3307 trevor.friday@berkadia.com
122
Total Units
1,501
Avg. Unit SF
484
Total Beds
$1.31
Avg. Rent PSF
0.02 MI
Distance to Campus
2001
YEAR BUILT
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2229 San Felipe Street, Ste 1600 Houston, TX 77019 Phone: 713.974.1300
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125 South Wacker Drive, Ste 400 Chicago, IL 60606 Phone: 312.845.8500
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Tate on Howard Opportunity
Best Located Student Housing Community – Tate on Howard benefits from being the closest property to the Western Michigan University Campus. Located on Howard Street directly across from WMU’s Haworth College of Business, residents are able to walk out their door, cross the street and be on campus. No other property in the market is able to offer similar access to campus.
Dramatic Upside Potential – The property experienced management related issues over the last year which have just recently been resolved. This resulted in lower than market occupancy and rents of only $500 per bed. While occupancy has stabilized at 90%, rents are substantially below market. The two closest competing properties have average rents of $600 and $675 per bed. Given Tate’s irreplaceable location, a new owner should be able to quickly move rents towards the upper end of the market.
Stable Enrollment – WMU’s enrollment stabilized in 2022 and saw slight growth in 2024. With 17,605 students, WMU is the 5th largest university in the state. Michigan, as a state, saw a 1.8% YOY enrollment increase in its colleges and universities.
Record Funding Donation – In 2021, WMU received a $550 million donation, the largest single donation in history to a US public university. The donation will be used to boost scholarship and financial support for students as well as faculty hiring and other university initiatives.
World Renowned Program – WMU’s College of Aviation ranks among the largest aviation programs in the US with 1,150 undergraduate students. The college is recognized as one of the premier aerospace education and research institutions.
Kalamazoo Promise – The Kalamazoo Promise was announced in 2005 and covers college tuition and mandatory fees for graduates of the Kalamazoo Public School district. This program has benefited both the Kalamazoo and WMU community. It has increased scholar start rate, persistence, and created a talent pipeline for the community and university.
Additional Development Opportunity: The site offers additional future revenue potential with the capacity to develop four additional buildings, providing a total of 256 additional beds.