Franklin Street Brokers $33.2M Sale of Two Off-Campus Student Housing Properties to University of Cincinnati

CINCINNATI, OH — Franklin Street has brokered the $33.2 million sale of two off-campus student housing properties serving the University of Cincinnati, with the university acquiring the assets from seller Uptown Rental Properties. The transaction, announced Sept. 21, 2026, covers properties at 101 E. Corry Street and 130 William Howard Taft Road in Cincinnati's Uptown neighborhood, totaling 123 units and 293 beds.

Deal Overview: University of Cincinnati Expands Housing Portfolio

The acquisition expands the University of Cincinnati's direct ownership of off-campus student housing. Both properties sit within a primary student-housing corridor adjacent to the university's Uptown campus — approximately two blocks from campus — with access to the Short Vine Entertainment District and nearby grocery options including Kroger. The three contiguous parcels span 2.23 acres at the two addresses.

At $33.2 million across 293 beds, the transaction prices out at roughly $113,000 per bed and approximately $270,000 per unit. The properties were previously master-leased and are now owned directly by the University of Cincinnati to address its growing need for student housing.

Franklin Street's national student housing team represented Uptown Rental Properties in the sale. Joel Dumes, executive managing director with Franklin Street's student housing team, and Patrick Mullowney, managing director with the same team, executed the transaction.

Competitive Bidding and Strategic Location

"101 East Corry represents the type of student housing investment that attracts both institutional capital and strategic buyers," Joel Dumes said. "The properties combine an irreplaceable location immediately adjacent to the University of Cincinnati with purpose-built student housing, high occupancy, and a demonstrated history of demand. The University's decision to acquire these assets reflects the long-term value of the location and the importance of these properties within the university's broader housing strategy."

The sale drew significant interest from buyers across the country before the University of Cincinnati emerged as the purchaser. "The bidding environment became highly competitive, with numerous offers from qualified buyers across the country," Patrick Mullowney said. "The property's location, established relationship with the University of Cincinnati, and long-term demand drivers including increased enrollment, made this a unique transaction."

Property Characteristics and Amenities

The two-property portfolio represents a blend of housing types. 101 East Corry is positioned as a purpose-built student apartment community. The University of Cincinnati markets it as a dedicated student apartment building approximately a five-minute walk from campus with direct access to retail, restaurants, and grocery options.

130 William Howard Taft Road — also referenced as 130–134 William Howard Taft Road — is a historic apartment building featuring newly renovated one- and two-bedroom apartments with large floor plans. One-bedroom units run approximately 637 square feet, while two-bedroom configurations range from 764 to 924 square feet.

Residents across both properties have access to on-site amenities including laundry facilities, a 24-hour fitness center, a game room, a TV lounge, a study room, and an outdoor amenity deck with ping pong and fireplaces.

Market Context: Student Housing Demand Near UC's Uptown Campus

The Ohio Controlling Board identified the acquired parcels as being in a primary student-housing corridor adjacent to UC's Uptown campus, underscoring the strategic rationale behind the university's purchase. Franklin Street cited increased enrollment among the long-term demand drivers that made the portfolio attractive to a broad field of prospective buyers.

The per-unit and per-bed pricing reflects the campus-adjacency premium typical of institutional-grade student housing trades, where proximity to a major university and stabilized occupancy command valuations above conventional multifamily benchmarks in the same market.

Franklin Street is a privately held, full-service commercial real estate services firm headquartered in Tampa, Florida, providing capital markets, insurance services, leasing, and management solutions nationwide. The firm was founded in 2006.

Sources

Franklin Street — Official Transaction Announcement, Sept. 21, 2026