MU and partners acquire The Marq

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The Marq

Marquette University and two out-of-state partners purchased The Marq, a student apartment building located near the MU campus, for $42.3 million, with plans to offer upper-level, graduate and professional student housing beginning in fall 2018.

The university is partnering with Chicago-based Harrison Street Real Estate Capital and Alabama-based Capstone On-Campus Management on the real estate deal.

Harrison Street plans to spend $1.5 million over the next year to renovate the facility, located at 2040 W. Wisconsin Ave.

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The Marq has 231 units and 612 beds, nearly doubling the 700 beds Marquette currently makes available to upper-level students.

Michael Lovell, Marquette president, said the university made it a priority in its strategic plan to acquire additional housing for juniors, seniors and graduate students.

“The Marq is a big win for our students and reflects our broader push to significantly increase graduate school and international admissions, as well as undergraduate admissions, over the next decade,” Lovell said.

Address: 2040 W. Wisconsin Ave.

Buyer: Marquette University, Harrison Street Real Estate Capital and Capstone On-Campus Management

Seller: Campus Advantage

Closing date: Oct. 19

Sales price: $42.3 million

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