HINGHAM, MASS. — The Town of Hingham, a suburb of Boston, has approved the construction of The Residence at Penniman Hill, a 90-unit independent living, assisted living and memory care community. LCB Senior Living LLC is developing the 89,000-square-foot building. All programming was developed in collaboration with the Harvard Medical School, McLean Hospital and Brigham & Women’s Hospital. LCB Senior Living is a Massachusetts-based seniors housing operator and developer with communities..
PHILADELPHIA — A joint venture between Chicago-based investment firm Harrison Street Real Estate Capital LLC and Pennsylvania-based REIT Brandywine Realty Trust (NYSE: BDN) has sold Evo at Cira Centre South, an 850-bed student housing property in Philadelphia. The sales price was roughly $197 million, according to The Philadelphia Inquirer. The buyer was not disclosed. Built in 2014 and located in the University City area, the 33-story Evo at Cira Centre South is the tallest..
IOWA CITY, IOWA — Berkadia has arranged a $46.5 million loan for the refinancing of The Quarters at Iowa City, an 892-bed student housing property. The development is located at 2401 Highway 6 East near the University of Iowa. The community features studio, two- and three-bedroom floor plans and amenities such as a resort-style pool, outdoor sand volleyball court, fitness center, game lounge, outdoor grill area and private shuttle to campus. Peter Benedetto and Aaron Moll of Berkadia arranged..
CLEMSON, S.C. — Valeo Groupe US, in conjunction with equity partner Harrison Street Real Estate Capital LLC, has unveiled plans to deliver Epoch Clemson, a 310-unit, 994-bed student housing community serving Clemson University in Clemson. Ed Coco, Matt Casey and Libby Malloy of HFF secured a floating-rate construction loan for the property on behalf of the developers. Other terms of the deal were not disclosed. Epoch Clemson will be situated along the shoreline of Lake Hartwell, just off..
AMES, IOWA — Arrimus Capital has acquired Stadium View, a student housing property adjacent to Iowa State University in Ames. The purchase price was not disclosed. The 518-bed property is located at 1206 S. Fourth St. near Jack Trice Stadium, home of the Iowa State Cyclones football team. The seller, Haverkamp Properties, opened Phase I of the community in 2016 followed by Phase II in 2017. The property offers 197 units with a mix of two-, three- and four-bedroom units and was 99 percent..
CHAMPAIGN, ILL. — The Opus Group, in partnership with The Carlyle Group, has broken ground on a 14-story student housing property at the University of Illinois at Urbana-Champaign. The building will feature 218 units ranging from studios to four-bedroom apartments for a total of 548 beds. The building’s shared amenities will include an indoor basketball court, fitness center and spa on the second floor. Group study rooms and lounges, along with a coffee bar, will provide additional spaces..
ATLANTA — Peak Campus and investment partner Blue Vista Capital Management LLC have broken ground on Theory West Midtown, a 525-bed student housing community located near the Georgia Institute of Technology in Midtown Atlanta. The project will feature studio, one-, two-, three-, four- and five-bedroom, fully furnished units. Shared amenities will include a resort-style pool, rooftop amenity deck, fitness center, business center, study/conference areas, a package locker system and parking and..
GREENVILLE, N.C. — A joint venture between FM Capital, Gottlieb Family Partners and AMAC Holdings has acquired Captain’s Quarters, a 1,692-bed student housing community located near East Carolina University in Greenville, for $17.7 million. Howard Jenkins of CBRE | Raleigh, along with the CBRE Southeast Multifamily Carolinas Group and CBRE | Student Housing, arranged the transaction on behalf of the seller, LNR. The property is set to undergo renovations and rebranding. The community will..
ORANGE, CALIF. — Chapman University has received approval for the adaptive reuse of a historic packing house. The university will develop a 402-bed student housing community adjacent to its campus in Orange. The historic Villa Park Orchards Association Packing House will be converted into a museum, student services center and classrooms or offices for the university. The new student housing development will target upperclassmen, and is being designed to reflect the character of the..
CHICAGO — Harrison Street Real Estate Capital LLC has agreed to acquire a portfolio of six student housing properties in Germany from MPC Capital AG. The portfolio consists of more than 1,000 beds and serves university students in Berlin, Bonn, Kaiserslautern, Leipzig and Nuremberg. In addition, Harrison Street has formed a strategic joint venture with MPC Capital to acquire student housing properties across Europe. Headquartered in Germany, MPC Capital is a developer and operator of student..