Vertically integrated. Locally operated.

Red Brick Properties acquires and manages student housing near the campus of West Virginia University. We combine disciplined underwriting and direct operational oversight to create long term value for our properties.

Portfolio Snapshot

Current Performance

900+

Units Owned and Managed Vertically integrated management

97%

Historical Occupancy Consistent lease-up performance

$9M

Annual Rent Roll Under Management

The Firm

Active ownership. Hands-on management. Real returns.

Red Brick Properties is a private real estate firm built around a simple conviction: Superior student housing investments are built through ownership-led operations, disciplined execution, and hands-on management.

Our focus is deliberate. We acquire, reposition, and manage student housing in Morgantown, WV. Every property is managed directly by our team — from leasing and maintenance to capital planning and resident experience. This vertical integration gives us an informational edge in underwriting, a cost advantage in operations, and direct accountability at every level.

Vertically Integrated

We manage every asset in-house maintaining control of leasing, construction and maintenance.

Value-Add Operators

We identify properties operating below their potential, invest in strategic upgrades, and implement professional management to increase value.

Investment Strategy

An Inch Wide. A Mile Deep.

Tertiary markets like Morgantown present a distinct set of challenges — opaque vendor relationships, shallow labor pools, and complex tenant profiles. These same intricacies, combined with our local presence, are both our edge and our opportunity.

Morgantown Focus

We invest exclusively in Morgantown, WV — anchored by West Virginia University and the WVU Health System. That singular focus means we know every submarket, every comp, and every dynamic that drives demand.

Proximity Mandate

Proximity to campus is the most durable driver of occupancy and rent premium in student housing. We apply a strict radius criterion to every acquisition, ensuring assets benefit from concentrated demand.

Value Creation

We acquire assets trading below replacement cost, invest capital into interior and exterior upgrades, and implement institutional-grade management — repositioning properties to capture premium rents and a larger share of the rental market.

Investment Thesis

Tailwinds for West Virginia University

Student housing at large public universities benefits from unique demand characteristics — non-discretionary occupancy, parental credit support, and enrollment-driven absorption largely independent of local economic conditions.

Enrollment Inflection

After several years of contraction driven by FAFSA delays and national demographic headwinds, WVU's enrollment is showing early signs of recovery. Fall 2025 brought a 7% increase in first-time freshman enrollment and a record retention rate of 85% on the Morgantown campus — the strongest indicators in years. We see the trough as behind us and the demand tailwind as ahead of us.

Supply Constraints

Purpose-built development remains concentrated among a handful of national operators at select universities. In supply-constrained markets, limited new construction insulates well-located existing assets from competitive pressure — creating durable pricing power for current owners.

Consistent Demand Drivers

Morgantown's housing demand is anchored by two of the most recession-resistant institutions in the country — a major research university and a regional health system. Education and healthcare are among the few sectors that have demonstrated consistent demand through every major economic cycle, providing a tenant base that is stable, recurring, and largely immune to broader market conditions.

Fragmented Ownership

A significant portion of off-campus student housing at WVU is held by local owners without institutional management infrastructure. This fragmentation creates the opportunity to acquire assets at an attractive basis with meaningful upside.

Investment Criteria

What we look for

We evaluate every opportunity against a defined set of criteria. If you have an investment opportunity that fits the profile below, we would welcome the conversation.

Property Type

Student Housing

Vintage

1980 – 2010

Unit Count

50 – 300 Units

Market Profile

Morgantown, WV

Recently Closed Transactions

Red Brick Properties completed the acquisition of Glenlock Apartments, a three-building student housing community totaling 111 units and 184 beds, located less than a quarter mile from the downtown campus of West Virginia University.

Glenlock Apartments

Morgantown, WV — Near West Virginia University

Purchase Price

$9.8M

Units

111

Beds

184

Acquisition Year

2025

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