KB OXFORD, DST

The Football Advantage of
Power 5 Conference Student Housings

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According to research by CBRE in 2019, student housing properties serving universities with elite football programs command higher prices and lower cap rates compared with student housing associated with other universities. Cap rates for student housing assets at elite football universities were found to be considerably lower than student housing at other universities, CBRE said, with the pricing differential 40+ basis points in the first half of 2019. Namely, at NCAA’s Division I Power 5 universities (representing the top five football conferences: Atlantic Coast, Big Ten, Big 12, Pac-12 and Southeastern), student housing acquisitions in the first half of the year had an average 5.40% cap rate (or 43 basis points below non-Division I schools) and captured a disproportionate share of the total investment volume for the first half of the year—which was nearly half of all transactions.

The NCAA Power Five (SEC), of course, includes the University of Mississippi, home of the Ole Miss Rebels.