Beacon Springfield is a 344-Bed, 5-Building, student housing best-in-class asset located 1 block from Missouri State University’s campus. The property is not only located right next to the University, but is also a half block from MSU’s newest residence building (housing 440 freshman) & 5 blocks from Downtown Springfield offering superior walkability.
Beacon Springfield offers a top of the line amenity package along with bed to parking parity, the only asset in the market with this offering. Built between 2011 and 2014, Beacon has long led the leasing market in Springfield and received an extensive interior remodel in 2021, over 95% leased for 2022-23.
Projections indicate no new deliveries in the market through at least Fall 2025, allowing owners to push the market’s rent ceiling. The property has attractive assumable debt at a 3.87% fixed rate with five years remaining or can be available free and clear.
Missouri State University
The city is home to eleven universities including Missouri State University, Drury University and Evangel University. Springfield is also home to Ozark Technical College which provides students with an attractive transfer program into Missouri State University. Founded in 1905, Missouri State University (MSU) is located in Springfield, Missouri and is the state’s second largest campus by enrollment. Since 2008, MSU’s enrollment has increased more than 15% from 19,925 to almost 23,500 students.
Bryan Student Housing led the “Heitz House” project, which brought 400 beds, a dining center, and retail space to campus as a part of the university’s on-campus housing opportunities. The project was completed in time for the 2022-2023 school year and the university closed on the property for $24 million on July 15th, taking full ownership from Bryan Student Housing. This project is just one block southeast of Beacon Springfield; this development further anchors this area of campus as the place to be for undergraduate students.