The Haven

The Haven is a 2004 built, fully-amenitized student housing community located 0.6 miles from Ball State University. The Haven features 216 units and 672 beds with a unit mix ranging from 2, 3, and 4-bedroom options. The community is currently occupied at 98% for AY 25/26 and 69.05% preleased for AY 26/27, outpacing last year by 18%. The Haven has outperformed the broader Muncie market in recent years and should continue to do so with zero development pipeline and limited competitive set.

Silvertree Portfolio

Silvertree Portfolio is a 7 property, value-add opportunity surrounding Ball State University with the portfolio averaging 0.2 miles from campus. Silvertree features 332 units and 892 beds with 2 and 3-bedroom options and diverse floor layouts. The communities boast strong occupancy, with AY 25/26 occupancy sitting at 95% versus the market average of 93%. Silvertree provides future investors with a value-add opportunity that has a clear rent runway in a supply-constrained market.

Ball State University

Ball State University is supported by an under-supplied, off-campus student housing market, with just 4,585 purpose-built beds serving a student population of over 20,000 and no new supply currently in the pipeline. Average rent per bed has increased 4.3% year-over-year and has averaged 3.9% annual growth over the past five years, reflecting sustained pricing power driven by steady student demand, a trend further validated by Ball State’s inclusion in Yardi’s Top 10 Most Improved Student Housing Markets for 2025. Market occupancy has strengthened meaningfully, increasing 3.2% from AY 24/25 to AY 25/26, while preleasing for AY 26/27 is currently outpacing the prior two leasing cycles, signaling continued momentum.