Investment Summary

The Ross is a Class A, student housing, high-rise, featuring 360 beds (100 units), best-in-class interior finishes, and all-inclusive amenities. Located in the heart of Downtown Salisbury, the project is perfectly situated to deliver the first urban style apartments to the next generation of Salisbury University Students.


Investment Targets

Targeted Investor IRR 15% + Tax Savings
Targeted Equity Multiple 2.95x
Targeted Investment Period 10 yr.
Property Type Student Housing
Preferred Return Accrual Date Closing
Sponsor Co-Investment $2,400,000 (Already Invested)

Unit Matrix

The apartment buildings feature 360 beds across a variety of configurations with a 1:1 bed/bath ratio. Penthouse units include 14ft ceildings, larger windows, and sweeping views form the 12th floor of Salisbury's tallest building.


Unit Type Unit Quantity Bed Count Average SF
Two-Bedroom 20 40 770
Four-Bedroom 80 320 1461
Total / Average 100 360 1184

Amenities

Best-in-Class, Luxurious Amenities

Unit Amenities

  • Private Bedroom/Bathroom (1:1 Ratio)
  • All Utilities Included (Electricity up to a Monthly Allowance)
  • Individual Liability Leases
  • Parking Garage Permit Included
  • Fully Furnished with Leather-Style Furniture
  • Stainless Steel Appliances
  • Solid Surface Countertops
  • Washer/Dryer
  • Faux-Hardwood Flooring
  • Central Air Conditioning
  • Wi-Fi
  • Window Blinds
  • Bedroom Ceiling Fans
  • Secured Unit/Bedroom Entry
  • STC Sound Rating: 56+

Building Amenities

  • Rooftop Terrace
  • Rooftop Lounge Area
  • Grilling/BBQ Area
  • Community Garden
  • Fire Pit Area
  • Campus Transportation
  • Coffee Bar
  • Pay&Go Convenience Shop in Lobby
  • Group and Private Study Lounges
  • 24-Hour Academic Success Center with Computers and Free Printing
  • Wi-Fi Throughout
  • 24-Hour Fitness Center with Strength Equipment, Cardio Machines, and Free Weights
  • Trash Chute and Recycling Center
  • Elevators
  • Package Acceptance Program
  • Bicycle Storage
  • Game Room

Meet the Team

Meet our team of local sponsors with over 75 years of real estate development and investing experience.