PEP Acquires 528-Bed Student Housing Community Near University of Virginia

Charlottesville, Va. — Pierce Education Properties (PEP) has acquired Cavalier Crossing, a 528-bed student housing community located near the University of Virginia in Charlottesville.

The garden-style community offers shared amenities including a resort-style pool, indoor game area, sand volleyball court, lighted basketball court and 24-hour fitness center. Prior to next fall’s move-in, PEP intends to upgrade unit interiors with new wood flooring, stainless steel appliances and new furniture, while also adding new fitness equipment. Terms of the sale and the seller were undisclosed.