Tailwind Group and its partners are pleased to announce the recent acquisition of The Gramercy, a 228-unit, 700-bedroom property in Manhattan, KS. The property is located right across the street from historic Bill Synder Family Stadium near Kansas State University’s campus. The asset consists of 2-bedroom and 4-bedroom units. The asset was purchased from an undisclosed seller.
Over the next 13 months, the property will undergo renovations which will include strategic unit upgrades, 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 have kept our eye on the Manhattan market for the past several years, and felt like the timing was right to enter,” said Brandon Smith, Tailwind Group’s Vice President of Operations & Development. “This purchase reinforces Tailwind Group’s commitment to pursue value-add opportunities in the student housing sector. Our team is extremely excited to launch our re-brand and implement our capital improvement plan over the next year.”
Tailwind Group is a top-20 owner and manager of off-campus student housing in the country, with 35 different communities comprising approximately 16,200 bedrooms in their portfolio. Their reach spans across 15 states and 19 universities.
Inquiries:
Brandon Smith, VP of Operations & Development
Krystal Pierce, VP of Investments & General Counsel
