Exchange-X, along with managing partner, Fortress Real Estate Exchange, is pleased to announce the offering of FREX DB Series I DST. The FREX DB Series I DST offering features the Domain at Town Centre, a stabilized, 2012-vintage student housing community. Located at 5000 Domain Drive in Morgantown, West Virginia, the institutional-quality property spans 14 residential buildings, one clubhouse, and two maintenance buildings situated on a site featuring 976 parking spaces. The complex is comprised of 336 units containing a total of 912 beds. It offers a diverse floorplan mix including 1×1, 2×2, 3×3, and 4×4 options that average 400 square feet per bed with a 100% bed-to-bath parity. The fully furnished units include walk-in closets, private patios or balconies, full-size in-unit washers and dryers, flat-screen TVs, and modern designer lighting. Residents have access to extensive community amenities, including a resort-style pool, outdoor kitchen and grilling areas, a 24/7 high-tech fitness center, a pickleball/basketball court, a dog park, a computer lounge, private study rooms, and a free private shuttle to campus.

The property is located in the Morgantown, WV MSA (population 142,752), one mile from West Virginia University’s campus and adjacent to a major retail center. The market suffers from a severe supply shortage, with no new student housing delivered since 2016 and no new projects in the pipeline. Out of WVU’s 23,532 students, 18,394 must live off-campus, leaving an unmet shortfall of approximately 11,694 students against only 6,700 available off-campus beds. Consequently, the market reached a 96% occupancy rate for the 2025/2026 academic year. The property itself holds a 93% occupancy rate for 2025/2026 and demonstrates strong leasing momentum, with 73% of its beds already pre-leased for the 2026/2027 term.