Summary:
- Inland Real Estate Group’s business trust acquired the Flats at West Village in Charlottesville for $107 million, marking a significant expansion of The Scion Group’s student housing portfolio through a new strategic operating partnership.
- The Flats at West Village, a 43,616-square-foot property on 2.24 acres, has seen rapid value growth since its 2014 opening, with a 2025 assessment of $92.2 million; Scion plans upgrades and retail leasing to enhance the resident experience amid increasing local competition.
- Charlottesville’s student housing market is expanding with multiple new developments underway, including projects by LV Collective and LCD Acquisitions, while UVA’s campus housing growth aligns with city plans to coordinate off-campus and on-campus student accommodation.
Original article:
https://c-ville.com/national-investment-firms-purchase-the-flats-at-west-village-for-107-million/
