Tailwind Group and its partners are pleased to announce the recent acquisition of The Reserve on West 31st, a 192-unit, 720-bedroom property in Lawrence, KS. The property is located near the University of Kansas and consists of 3-bedroom and 4-bedroom units. The asset was purchased from an undisclosed seller and was brokered by Teddy Leatherman and her team at JLL.
Over the next 14 months, the property will undergo extensive renovations which include full unit upgrades, conversion of 4-bedroom, 2-bathroom units to 4-bedroom, 4-bathroom units, a complete redesign and repurposing of the interior and exterior amenity spaces, and general property enhancements. The property will also be re-branded in the fall of 2024.
“We see great upside in this opportunity upon execution of our capital improvement plan combined with the strong fundamentals in the Lawrence market,” said Brandon Smith, Tailwind Group’s Vice President of Operations & Development. “The University of Kansas has seen tremendous enrollment growth over the past few years and the need for high-quality, off-campus student housing is at a premium. This deal lined up perfectly with our opportunistic, value-add strategy.”
Tailwind Group is a top-20 owner and manager of off-campus student housing in the country, with 34 different communities comprising nearly 15,500 bedrooms in their portfolio. Their reach spans across 15 states and 18 universities.
Inquiries:
Brandon Smith, VP of Operations & Development
Krystal Pierce, VP of Investments & General Counsel
