BOWLING GREEN, KY—Capstone Apartment Partners has brokered the $4,025,000 sale of CEV Bowling Green: a 288-bed student housing community in Bowling Green, Kentucky. The property is situated on 6.47 acres less than a half mile from the edge of Western Kentucky University’s campus.
Capstone’s Jonathan Hawks, Adam Klenk, Tyler Mayo, and Austin Heithcock represented the seller, Campus Evolution Villages, in the sale of CEV Bowling Green. The local buyer, AFGV LLC, saw this asset as the perfect opportunity to grow their existing footprint and enter the student housing space in a market they know very well. They plan to self-manage the property and renovate units over time for a long-term hold.
Built in 1997, CEV Bowling Green is comprised of 72 four-bedroom/two-bathroom student apartments. The community’s amenities include a swimming pool, hot tub, clubhouse, grilling area, fitness center, computer lounge, and campus shuttle service. Each apartment home features a patio or balcony, fully equipped kitchen, and washer/dryer. CEV Bowling Green was 75% occupied at the time of closing.