Summary:
- Intercontinental Real Estate Corp. and Interwest Capital Group have acquired River Edge, a 175-unit student housing community in Boise adjacent to Boise State University, expanding their presence in the student housing market.
- River Edge offers 622 beds across two- and four-bedroom units with amenities including a fitness centre, study rooms, business centre, residential lounge/theatre, coffee bar, and parking for 277 vehicles, supporting high demand with 99 per cent occupancy for the 2024/25 academic year.
- The joint venture plans a light renovation program to update units built in 2015, adding stainless steel appliances, modern lighting, new furniture, smart TVs, and keyless entry systems to meet current market expectations and enhance resident experience.
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