College Station is a 507-bed student housing asset located about 1.3 miles north of the campus of Illinois State University in Normal, IL. The property was acquired in October, 2017 with a plan to invest approximately $650,000 in improvements and create operational efficiencies. Amenity improvements include a new beach volleyball court, all new grill/lounge courtyard, dog park, and new pool area. A new roof was installed as well as parking lot sealcoat. These improvements coupled with better management led to a 65% increase in NOI in 18 months. This property was sold in December of 2021.
| Investment | Acquisition |
| Asset Class | Student Housing |
| Status | Realized |
| Market | Illinois State University |
| Construction | 2004 |
| Beds | 507 |
| Square Feet | 179,845 |
| Property Website | collegestationapt.com |
Ryan Tobias, Managing Partner
Ryan is a Managing Partner of Jackson Dearborn Partners. He oversees all elements of the JDP business including acquisitions, site selection, fundraising, and investor relations. With 16 years experience, Ryan has worked on over $1 billion in transactional real estate and has developed or acquired over $200 million in student housing and multi-family real estate. Read more
Prior to founding Jackson Dearborn Partners, Ryan worked at brokerage firms Marcus and Millichap and Newmark Knight Frank before starting Triad Real Estate Partners in 2010. Triad is a leading broker of student housing and multi-family in the Midwest completing nearly $1.6 billion in sales since inception. Following the success of Triad, he launched JDP with Shaun Buss and Sean Lyons in 2014 with the goal of building out a vertically integrated real estate investment portfolio.
Ryan is a graduate of the University of Michigan and after a decade in Chicago, moved back to Ann Arbor where he now resides with his wife Brittany and their two children.