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Jones Lang LaSalle, L.P., JLL Real Estate Limited (collectively, “JLL) is pleased to present Aspen Springfield (the “Property”), a fully occupied, mid-rise student-living community located 2 blocks north of campus at Missouri State University (“Missouri State” or “MSU”) in Springfield, MO. In addition to its pedestrian location to the 24,000 student MSU, the Property is a convenient walk to the nightlife and retail corridor of downtown Springfield which is less than a 10-minute walk west.
In conjunction with the unbeatable location, a best-in-class amenity offering has aided the Property in leading the market in occupancy for Fall 2021 at nearly 100%. Bold and sophisticated amenities such as a resort-style pool, 24-hour fitness center, walk-in closets, and granite countertops are a sampling of the features which have made Aspen Springfield the market’s most popular asset. With projections indicating the MSU enrollment continuing to expand and the off-campus bed pipeline suggesting no deliveries through at least Fall 2025, Aspen Springfield is perfectly positioned to push the market’s rent ceiling while building upon a staunch performance history.
- Walkable to Campus & Downtown – Aspen Springfield is two blocks north of the MSU Campus, a 10-minute walk to downtown Springfield
- Market’s Most Popular Asset – Aspen Springfield is the best-occupied asset in the market while also achieving some of the highest rents by comparable floorplan
- Ideal Fundamental Projection – Enrollment is projected to grow each year through 2025 with no deliveries anticipated in the market during that same timeframe
- Strong Operating History – The Property averaged 93% occupancy from January 2019 to August 2021, demonstrating student-renters’ desire to live at Aspen Springfield regardless of in-person instruction being held
- Ascending University Profile – Record-high graduate student enrollment along with significant growth in international enrollment speak to Missouri State becoming an in-demand school from a global perspective