REBusinessOnline

NKF Multifamily: Student Housing Sector Outlook for 2019

To ring in the New Year, Student Housing Business — sister publication to REBusinessOnline — sat down with Ryan Lang, executive managing director and head of Newmark Knight Frank’s student housing division, to discuss his outlook for the year ahead. SHB: What challenges will your market face in 2019? Where are the opportunities within these challenges? Lang: It appears volatility on the capital markets side will continue to be closely monitored heading into 2019 and …

Preiss, Centaline Acquire 288-Bed Student Housing Property in San Antonio

SAN ANTONIO — Raleigh, N.C.-based student housing owner-operator The Preiss Co., in partnership with Centaline Investment Management Co., has acquired The Estates at San Antonio, a 288-bed property serving the University of Texas at San Antonio (UTSA). The 104-unit property is located less than two miles from campus, features an average unit size of 1,712 square feet and offers amenities such as a pool, volleyball court, 24-hour fitness center and outdoor grilling/picnic areas. The seller was …

University of Miami Unveils Plans for $260 Million On-Campus Residential Village

CORAL GABLES, FLA. — The University of Miami has unveiled plans for a residential village set to replace the existing Stanford and Hecht Residential colleges on the university’s campus in Coral Gables. The 522,000-square-foot development — named Centennial Village — will include 1,700 beds for first-year students in four residential colleges, indoor and outdoor spaces for academic and extracurricular activities, a learning hub, meditation room and apartments for faculty and staff. …

Joint Venture Acquires 632-Bed Student Housing Community in Lincoln, Nebraska

LINCOLN, NEB. — GMH Capital Partners LP and AGC Equity Partners have acquired Aspen Lincoln, a 632-bed student housing community in Lincoln. Located two blocks from the University of Nebraska-Lincoln, the property spans five floors and 203,552 square feet. Amenities include a fitness center, pool, hot tub, study lounges, computer labs and courtyards with fire pits. The buyer plans to rename the student housing community Academy Lincoln. Aspen Heights Partners and Virtus Real Estate Capital …

Marcus & Millichap Arranges $9.2M Sale of Student Housing Property in Normal, Illinois

NORMAL, ILL. — Marcus & Millichap has arranged the $9.2 million sale of Heartland Village Apartments near Illinois State University in Normal. The student housing property includes 288 beds within 144 units. Amenities include a clubhouse, fitness center and outdoor pool. All units are fully furnished. Eric Bell and Jordan Callaway of Marcus & Millichap represented the seller. Bell also represented the out-of-state

University Student Living Receives $575M Construction Financing for UC Davis Student Housing Project

DAVIS, CALIF. — University Student Living LLC has received $575 million in construction financing for a major expansion of the on-campus housing at the University of California, Davis. The project will add approximately 3,300 beds to the university’s West Village. The developer expects to deliver the first 1,000 beds by the start of the 2020 academic year. The $575 million in project costs will come from the proceeds of a tax-exempt bond issue, the largest ever in the country for a …

PEBB Capital, TriArch Real Estate Break Ground on 153-Bed Student Housing Community in Manhattan

NEW YORK CITY — A joint venture between PEBB Capital and TriArch Real Estate Group has broken ground on a 153-bed student housing development located in the Morningside Heights neighborhood of Manhattan near Columbia University. The partnership acquired the land parcel in February for $20.3 million. The 14-story, 64,000-square-foot building will offer studio, one-, two- and three-bedroom, fully furnished units. Shared amenities will include a state-of-the-art fitness center, a study area with …

FourPoint Brokers Sale of 328-Bed Student Housing Community Near Wake Forest University

WINSTON-SALEM, N.C. — FourPoint Student Housing Investments has arranged the sale of Deacon Place, a 328-bed student housing community located near Wake Forest University in Winston-Salem. The property opened in 2017 and offers suite- and townhome-style units. Community amenities include a resort-style swimming pool, fitness center, study lounge and a putting green. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint arranged the sale on behalf of the seller, Signet Real …

CBRE Arranges Sale of 658-Bed Community Near University of California, Riverside

RIVERSIDE, CALIF. — CBRE has arranged the sale of Sterling Highlander, a 658-bed student housing community located near the University of California, Riverside. The property comprises four buildings and a clubhouse offering studio, two-, three- and four-bedroom units. Shared amenities include a swimming pool, fitness center, tanning dome, gourmet coffee bar, basketball court, private study rooms, a computer center, game room and courtyards with barbecue areas. Seattle-based Horizon …

ACC, San Francisco State Break Ground on 584-Unit Student Housing Community

SAN FRANCISCO — A public-private partnership between American Campus Communities (ACC) and San Francisco State University has broken ground on a 584-bed student housing community with mixed-use components on the university’s campus in San Francisco. The development will offer fully furnished, apartment-style units. Shared amenities will include social and recreational lounges and an academic success center, alongside 15,000 square feet of retail space. The development, located on the …

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