Berkadia closed the sale of a 450 bed student housing asset in Huntsville Alabama a secondary non Power Five university market. It is part of a deep 2026 tape in which Berkadia has financed or closed 24 transactions totaling 7828 beds this year.
Most 2026 student housing headlines have been mega portfolios at flagship schools. A clean 450 bed trade in Huntsville shows the bid has broadened to secondary markets where cap rates are higher and competition thinner.
Student housing appeal is countercyclical. Enrollment demand is inelastic to the macro and pre leasing gives owners visibility a year out. When single mid sized assets in secondary markets trade smoothly the asset class has matured past its flagship only phase.
Implications: Secondary market student housing offers yield the flagship trades no longer do with similar demand durability. Expect more mid sized secondary trades as capital hunts basis.
Key Takeaways
- When the 450 bed in a secondary market trades clean the whole asset class got more liquid
- Secondary market student housing offers yield the flagship no longer does
Global Student Living REJournals Jul 28 2026 Berkadia Facilitates Sale of 450 Bed Student Housing in Huntsville
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