REBusinessOnline

ARA Newmark Arranges Sale of 864-Bed Student Housing Asset Near Texas A&M, Blinn College

BRYAN, TEXAS — ARA Newmark has arranged the sale of Z Islander, an 864-bed student housing community in Bryan that serves Texas A&M University and Blinn College. The community totals 380 units in one-, two-, three- and four-bedroom configurations. Amenities include a pool, fitness center, outdoor fire pits, spa and sauna, theater room, volleyball and basketball courts, game room and community car wash stations. Ryan Lang and Brandon Buell of ARA Newmark represented the seller, …

Colliers International Arranges $6.4 Million Sale of Student Housing Community Near California Polytechnic State University

SAN LUIS OBISPO, CALIF. — Colliers International has arranged the $6.4 million sale of Icon SLO, a 26-bed student housing community located near California Polytechnic State University in San Luis Obispo. The property offers six four-bedroom units and one two-bedroom unit. Each unit is fully furnished. The building also features ground-floor retail occupied by tenants including Soul Yoga and Tiki Hut, a Caribbean restaurant. Dorothy Jackman and Jamie Swick of Colliers' National Student …

Academy West Acquires 395-Bed Student Housing Property Near the University of Nevada, Reno

RENO, NEV. — Academy West Investments has acquired Wolf Run Village and Wolf Run East, a 395-bed student housing property located two blocks from the University of Nevada, Reno campus. The acquisition also includes an adjacent five-acre parcel at which the company can develop approximately 310 additional beds. The 185-bed Wolf Run Village is set to undergo comprehensive interior and exterior improvements. Wolf Run East — completed for the 2017 school year — will be enhanced with new …

Confluence to Build 107-Unit Student Housing Project in Golden, Colorado

GOLDEN, COLO. — Confluence Cos. is set to break ground on a 107-unit residence hall for undergraduate students on land adjacent to the Colorado School of Mines in Golden. A timeline for development has yet to be announced. Blaylock Van served as sole placement agent on $44.3 million in bond financing for the project. The financing provides staged funding during the construction period and is secured by a leasehold mortgage on the improvements. In this deal, the owner of the land parcel …

Aptitude Development to Break Ground on Student Housing Community Near University of Louisville

LOUISVILLE, KY. — Aptitude Development is set to break ground on The Marshall Louisville, a 591-bed student housing community located near the University of Louisville. The 10-story property will offer fully furnished units with shared amenities including a 2,500-square-foot, outdoor terrace on the top floor; a gym; study lounges; and game rooms with views of Churchill Downs, the home of the Kentucky Derby. Aptitude Development is working with Prescient to virtually plan, design and …

Preiss, TH Real Estate Acquire 450-Bed Student Housing Property Near Sam Houston State

HUNTSVILLE, TEXAS — A joint venture between The Preiss Co. and TH Real Estate has acquired The Forum at Sam Houston, a 450-bed student housing property serving Sam Houston State University in Huntsville. The community offers one-, two- and three-bedroom units and amenities such as a pool, basketball and volleyball courts, fitness center, outdoor lounge and two pet parks. The new ownership will renovate the property this fall. The seller was not

Harrison Street Acquires 318-Bed Residence Hall at Arizona State University Polytechnic for $27M

MESA, ARIZ. — Harrison Street Real Estate Capital has acquired Century Hall, a 318-bed residence hall located on the Arizona State University Polytechnic campus in Mesa, for $27 million. Built in 2012, the community is located at the heart of campus adjacent to the university's student union building, dining and recreational facilities. The property offers shared amenities including two multi-purpose rooms, a resident community kitchen, group study rooms, student activity lounges on each …

Greystone Provides $28.2M Acquisition Loan for Student Housing Complex in Idaho

REXBURG, IDAHO — Greystone has provided a $28.2 million Fannie Mae DUS loan for the acquisition of Northpoint Apartments, a student housing property in Rexburg. Dale Holzer of Greystone's Newport Beach, Calif., office originated the loan for the undisclosed borrower. The loan carries a 10-year term, fixed rate and five years of interest-only payments. Built in 2014, the 154-unit property serves the Brigham Young University-Idaho population with 1,024 student beds. On-site amenities …

Student Housing Pushes Out Affordable Living in College Towns

For Kyle Bach, CEO of The Annex Group LLC, there’s an affordable housing crisis taking place in large university towns. After extensive research in Bloomington, Indiana, and other similar towns, Bach found that over the past decade or so virtually all new multifamily product added to the market has been either student or luxury housing. This has priced out the workforce or affordable housing residents in those communities, he says. About a year-and-a-half ago, Bach’s Indianapolis-based …

Waypoint Residential Acquires 576-Bed Student Housing Community Near UNC Charlotte

CHARLOTTE, N.C. — Waypoint Residential LLC has acquired 901 Place, a 576-bed student housing community located less than two miles from the University of North Carolina (UNC) at Charlotte. The name of the seller and sales price were not disclosed. Constructed in 2000, the garden-style community features a clubhouse, computer room, game room, swimming pool, fitness center, yoga studio, sand volleyball courts, tennis courts and basketball courts. Waypoint plans to invest $3 million in property …

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