GMH Communities Trust announced that its student housing division, College Park Communities, has acquired University Commons Apartments, a 240-unit/696-bed student housing property serving the Pennsylvania State University in State College, Pa. The property was acquired for approximately $18.6 million. University Commons was built in 1998 and includes 17 three-story, town-home-style buildings and a clubhouse located on approximately 17 acres. University Commons is located less than two miles from the University's campus and contains resort-style amenities specifically designed for students, such as a swimming pool and hot tub, computer lab, fitness center, tennis, basketball and volleyball courts, and picnic area with barbecues. The University Commons acquisition increases the number o...
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