Campus First and CF Real Estate Services Acquires 684 Bed Property at Salisbury University
With close proximity to the main campus of Salisbury University, University Orchard is a home run for Campus First and CF Real Estate Services.
Salisbury, MD-- 1/9/17 –Campus First Student Living and CF Real Estate Services LLC, have acquired University Orchard, located less than one-half mile from the main campus of Salisbury University in Salisbury, MD. Salisbury University is part of the University System of Maryland. Campus First will be overseeing the management of this 648-bed property as well as a $600,000 property upgrade program. The property will continue to retain the name University Orchard.
Campus First will bring its boutique style approach and expertise in student property management to position the asset as Salisbury University’s premier off-campus student housing option. As part of the property upgrades, Campus First will be constructing a new dog park, add a large outdoor LED screen in the pool and terrace area, renovate the exterior and interior of the clubhouse, and enhance the fitness center and study areas.
Residents will be pleased with the upgraded internet and cable packages as well as the addition of VIP premium suites. The new premium option will include grey faux wood floor, painted interiors, completely renovated kitchens with subway tile backsplashes, stainless steel appliances, new counter tops and kitchen hardware. The bathrooms will also be updated and the VIP suites will boast all new modern furniture packages and new large, flat screen televisions.
University Orchard is currently 99% leased for the 2015-16 lease year. The property was constructed in 2013, and features a resort style swimming pool, outdoor spa, separate game room, clubhouse, and volleyball and pickleball courts. Unit interiors have faux wood flooring, bed-bath parity, black appliances, and are fully furnished.
“The Campus First team is excited about managing this property and turning this asset into the premier off-campus student property at University of Salisbury through its new management team and the planned upgrade program.” states Christopher Feeley, President of Campus First.