Nelson Brothers Real Estate Acquires Student Housing Venture – Darby Row Belfry

Darby Row Belfry

Posted By: Pat Nelson / Jul 13 2014

Aliso Viejo, Calif. — Southern California-based Nelson Brothers Professional Real Estate, LLC has officially closed The Darby Row Townhomes & Apartments and The Belfry, two separate new construction student housing properties serving The University of Notre Dame in South Bend, Indiana. They are located on the same block less than one mile south of the main entrance to campus. The properties combine to be 37 units and 71 total beds.

With few new properties available and a relatively affluent student market, Nelson Brothers believes the property can potentially increase income by continuing to raise rental rates.

The Darby Row Townhomes & Apartments and The Belfry properties were purchased for $6,126,000 as a Delaware Statutory Trust (DST) structure.

Darby Row was completed in 2012 and contains eight townhomes with 32 total bedrooms and three luxury one-bedroom suites. The Belfry was just completed, consists of twelve townhome units with 24 total bedrooms and six end-cap apartment units with 12 total bedrooms. Units at both properties are fully furnished and include a 50” TV, granite countertops and a private bath and built-in desk for each bedroom. The properties are wired for high speed internet and have a 1:1 parking to bed ratio.

According to Brian Nelson, Principal and Co-Founder of Nelson Brothers Professional Real Estate, “Darby Row and The Belfry present a rare opportunity to acquire a brand new student housing portfolio within walking distance to one of the most high profile universities in the country.”

The strategy for the NB Darby Row DST is to maintain its appeal to affluent students and continue to differentiate itself through its premium location and high-end amenities package. By securing this market, the hope is to leverage the stability of the university and the high demand for newer, upscale housing to maintain high occupancy and steady cash flow while hoping to increase property value by raising rents and growing the net operating income.

Nelson Brothers Professional Real Estate was launched in 2007 offering individual investor direct ownership interests in institutional quality, professionally managed real estate. Nelson Brothers specializes in the acquisition, financing and ownership of real estate investments in the niche areas of student housing and assisted living investments. Nelson Brothers currently manages over $165 million in real estate and 19 properties across seven states.