Pierce Education Properties, DWS Acquire Community Near Indiana University

Bloomington, Ind. — A joint venture between Pierce Education Properties and DWS has acquired Smallwood Plaza, a 713-bed student housing community located near Indiana University in Bloomington.

The property offers two-, three- and four-bedroom units. Shared amenities include onsite laundry rooms, study lounges and a 24-hour fitness center. The new ownership plans to upgrade unit interiors with new flooring, smart televisions and furniture prior to fall 2019 move-in. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Steve LaMotte, Jr., Dave Lockard and Dane Wilson of CBRE represented the undisclosed seller in the transaction.