Real Estate Central

NORTHBROOK, Ill., June 5 /PRNewswire/ — Prime Property Investors, Ltd.
Principals Barbara J. Gaffen and Michael H. Zaransky announced the
acquisition of the Clover Ridge Apartments, a 100% occupied Student Housing
multi building complex, located within three blocks of the main campus of
the University of Notre Dame in South Bend, Indiana.

The purchase marks Prime’s continued expansion of its nationwide
Student Housing property portfolio and is the company’s first entry into
the University of Notre Dame student housing market. As a result of the
acquisition, Prime becomes one of the largest close to campus property
owners at Notre Dame. Future acquisitions at the Notre Dame campus and at
other major university towns, throughout the country, are planned as Prime
continues to grow its nationwide holdings of Student Housing properties.

Located immediately adjacent to the campus, the Clover Ridge Apartments
community amenities include a swimming pool, club house, work out/exercise
room, tanning bed, basketball court, tennis court, and sand volleyball
court. The property, situated on 8 acres, features coveted near campus on
site parking.

University of Notre Dame, founded in 1842 by a priest of the
Congregation of Holy Cross, is an independent, national Catholic university
located adjacent to the city of South Bend, Indiana, and approximately 90
miles east of Chicago. Notre Dame’s operating budget for fiscal 2007-08 is
more than $900 million, and the market value of its endowment is more than
$5 billion.

Prime Property Investors, Ltd., based in Northbrook, Illinois, is a
leading multi-family property investment firm with a specialized niche in
Student Housing properties. The company seeks to acquire stabilized student
housing properties on major university campuses located in close proximity
to the center of campus. Due to Prime’s tremendous growth, the company was
recognized by Inc. Magazine for placement on the Inc. 500 list of the
fastest growing companies in America

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[Via Real Estate Newswire]