Holliday Fenoglio Fowler, L.P. (HFF) announces the more than $30 million sale of a 71-building/383-bed, scattered-site student housing portfolio at Lehigh University in Bethlehem, Pennsylvania.

The HFF team marketed the property exclusively on behalf of Campus Apartments.  A private investment vehicle managed by Hong Kong-based Beacon Assets purchased the property free and clear of existing debt.

The 71 properties within the portfolio have prime ‘walk to campus’ locations and incredible access to nightlife and retail.  The portfolio achieved close to 99 percent occupancy during the last two academic years amidst strong year-over-year rent growth.  Lehigh University has an enrollment of more than 7,000 with growth of 25 percent expected during the next seven years.

The HFF investment advisory team representing the seller included senior managing director Jose Cruz, senior directors Michael Oliver and Carl Fiebig, managing director Kevin O’Hearn and senior director Steve Simonelli with support from senior managing director Doug Opalka and director Ryan McBride.

“The portfolio garnered attention from local, regional and international investors,” Oliver said.  “The portfolio has shown strong historical performance and will continue to be a fantastic investment going forward.”