SQ5 at Georgia Tech

In March 2014 ELV entered into a joint venture with an Atlanta-based developer to develop a 25-story student housing community primarily serving the Georgia Institute of Technology in Midtown Atlanta. Known as Square on Fifth, the building consists of 232 rental apartments accommodating 628 bedrooms, 14,000 square feet of office space, 4,500 square feet of ground-floor retail space, and numerous amenities including a rooftop deck and pool and outdoor living areas. Parking is provided through a permanent easement across an existing parking garage connected to the project. The project was completed in time for the 2015/2016 academic year and after a 4.5 year holding period, was sold in July 2018, supporting a 44.4% IRR over the investment period.