The Estate
Location
Clemson, SC
Type and Size
Property Summary
The Estate is a Class A student housing complex consisting of 88 beds in Clemson, SC. The property was acquired in 2017 by Calidus and was sold in 2021. Managed by Clemson Living, the Estate features high-end, cottage-style, student housing living less than one mile from Clemson’s downtown and campus. Each home comes standard with the very latest in upscale features and the community boasts resort style amenities for residents to enjoy. Life at The Estate offers the exclusivity of a private neighborhood with the conveniences you expect staying close to class, shopping & restaurants.
Student Housing
84 beds
Investment Narrative
The Estate, Boundary and 109 are attractive properties featuring a cottage-design product, pool and a gym (at the Estate), and are well received by residents. At acquisition, the portfolio was running at 100% occupancy, giving us indication of the demand for this type of product. New development of comparable properties was historically limited by land availability and very limited city sewer capacity providing a strong barrier to entry. Calidus saw the opportunity as a good, stable investment in an excellent growth market (5% annual increase in the student body). Our plan to grow cash flow and maximize value was a great success over 5 years.