NOCA Lofts is a 167-Bed student housing complex located just north of the Michigan State University campus. Built in 2019, the property sits on 6.7 Acres with 91,625 residential SF & an additional 15,907 commercial SF. The unit mix consist of 141 one bedroom units & 13 two bedroom units.
The property is currently 97% occupied and has potential to increase rents in-line with market competitors.
Michigan State University
With a fall 2021 total student population of 49,659, Michigan State University’s flagship campus in East Lansing is one of the largest college campuses by enrollment in the country. This fall MSU welcomed 9,065 new freshmen to campus, the largest cohort in the University’s history. This year more than 50,000 students applied to MSU, an 11% increase in total number of applicants compared with last year.
Michigan state has more than 500,000 living alumni making it one of the largest alumni organizations in the world. More than 60% of graduates choose to live in Michigan, as the university is an important contributor to the growth of the state’s economy - more than 70% of MSU students hail from the state of Michigan. As it stands today, the university generates an estimated impact of more than $5 billion statewide each year.