Institutional Property Advisors Exclusively Lists Student Housing Asset for Sale in Provo
March 02, 2026
PROVO, Utah, March 2, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the exclusive listing for sale of Raintree Commons, a 924-bed, 152-unit student housing asset serving Brigham Young University (BYU) in Provo, Utah. The offering will be an open bid process.
"Located less than a mile from the BYU campus, Raintree Commons benefits from sustained demand driven by one of the nation’s largest private universities,” said Brock Zylstra, IPA senior managing director investments. “The property has received meaningful exterior and common area improvements that contribute to its overall quality and long-term durability,” said Danny Shin, IPA senior managing director investments. Shin, Zylstra, and Peter Katz, IPA executive managing director investments, in association with Adam Lewis, Marcus & Millichap’s broker of record in Utah, are representing the seller. “The asset’s scale and limited competitive supply will provide an incoming investor with stable performance potential in one of the most supply-constrained student housing markets in the country,” said Katz.
The property is close to retail, dining, and entertainment at The Shops at Riverwoods, Parkway Plaza, River’s Edge, and University Place. Lake Pointe Shopping Center and Riverside Plaza are nearby, and Provo Airport is within a short drive. In addition to BYU, Provo is home to Rocky Mountain University and Noorda College of Osteopathic Medicine. Utah Valley University is within proximity in Orem.
Completed in 1978 and renovated in 2022, Raintree Commons is a 13-building community with a swimming pool and spa, volleyball court, clubhouse, and gym. The unit mix of three-bedroom/two-bath floor plans have private bedrooms and shared living areas. Amenities include desks, dishwashers, and laundry facilities. The average unit size is 750 square feet.
"Located less than a mile from the BYU campus, Raintree Commons benefits from sustained demand driven by one of the nation’s largest private universities,” said Brock Zylstra, IPA senior managing director investments. “The property has received meaningful exterior and common area improvements that contribute to its overall quality and long-term durability,” said Danny Shin, IPA senior managing director investments. Shin, Zylstra, and Peter Katz, IPA executive managing director investments, in association with Adam Lewis, Marcus & Millichap’s broker of record in Utah, are representing the seller. “The asset’s scale and limited competitive supply will provide an incoming investor with stable performance potential in one of the most supply-constrained student housing markets in the country,” said Katz.
The property is close to retail, dining, and entertainment at The Shops at Riverwoods, Parkway Plaza, River’s Edge, and University Place. Lake Pointe Shopping Center and Riverside Plaza are nearby, and Provo Airport is within a short drive. In addition to BYU, Provo is home to Rocky Mountain University and Noorda College of Osteopathic Medicine. Utah Valley University is within proximity in Orem.
Completed in 1978 and renovated in 2022, Raintree Commons is a 13-building community with a swimming pool and spa, volleyball court, clubhouse, and gym. The unit mix of three-bedroom/two-bath floor plans have private bedrooms and shared living areas. Amenities include desks, dishwashers, and laundry facilities. The average unit size is 750 square feet.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.