REBusinessOnline

Alpha Capital Acquires 342-Bed Student Housing Community Near University of Louisiana at Lafayette

LAFAYETTE, LA. — Alpha Capital Partners has acquired University Place, a 342-bed student housing community located near the University of Louisiana at Lafayette. The acquisition is the second of five identified projects in the company’s Opportunity Zone Fund, which was launched last October in an effort to take part in the opportunity zone program implemented by the Tax Cuts and Jobs Act of 2017. University Place offers access to campus through a private pedestrian bridge, alongside shared …

Cushman & Wakefield Negotiates Sale of 888-Bed Student Housing Community Near University of Kansas

LAWRENCE, KAN. — Cushman & Wakefield has negotiated the sale of The Connection at Lawrence, an 888-bed student housing community located near the University of Kansas campus in Lawrence. Travis Prince, Victoria Marks, Gib Kerr and Jeffrey Bentz of Cushman & Wakefield represented the unnamed seller in the transaction. University Partners acquired the property for an undisclosed price. The Connection at Lawrence was built in 2010 and features 14 three-story buildings offering one-, …

Designing and Developing Student Housing for Gen Z

Gen Z is one of the most fiscally responsible generations we’ve seen in a long time, prompting student housing companies to find creative ways of satisfying both cost and quality of life for students, especially within the off-campus luxury housing market. The following are important features to consider when designing and developing a student housing community geared towards this demographic: Innovated Tech Experiences One thing we know about Gen Z is that they are hyper-connected and …

SunTrust Originates $13.3M Freddie Mac Acquisition Loan for Student Housing Asset in Ithaca, New York

ITHACA, N.Y. — SunTrust Banks Inc. has originated a $13.3 million acquisition loan for Gun Hill Residences, a 273-bed student housing property located adjacent to Cornell University in Ithaca, a city in upstate New York. The 94-unit property was close to full occupancy at the time of the loan closing. Yuchen Yang and Artin Anvar of SunTrust originated the loan, which featured a fixed interest rate, 10-year term and a 30-year amortization schedule. The borrower was New York-based DMG …

Marcus & Millichap Arranges $16M Loan for Refinancing of Student Housing Property in New Rochelle

NEW ROCHELLE, N.Y. — Marcus & Millichap Capital Corp. has arranged a $16 million loan for the refinancing of a 282-bed student housing property located at 17 Locust Ave. in New Rochelle, a northern suburb of New York City. The newly built, 94-unit property serves nearby Monroe College. Steven Rock of Marcus & Millichap arranged the loan that was originated at a 65 percent loan-to-value. The loan features a fixed interest rate of 4.98 percent as well as 18 months of interest-only …

Marcus & Millichap Brokers $6.8M Sale of Student Housing Property Near Illinois State University

NORMAL, ILL. — Marcus & Millichap has brokered the sale of Lincoln Park Townhomes in Normal for $6.8 million. The 39-unit student housing property is located at 609 S. Fell Ave. near Illinois State University. Each unit features four bedrooms and four bathrooms. Eric Bell and Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the undisclosed

Low Interest Rates, Favorable Demographics Set Real Estate Industry Up to Win, Says Nadji

What is the economic outlook for the year, and what does that mean for the student housing industry? Hessam Nadji, president and CEO of Marcus & Millichap/Institutional Property Advisors, answered just that in the keynote speech that kicked off the 2019 InterFace Student Housing Conference, which was held in Austin earlier this month and drew approximately 1,400 attendees. Nadji began by laying out the basics on where the industry is today economically in comparison to before and during …

UC Hastings Selects Greystar as Master Developer of $450M Student Housing Village in San Francisco

SAN FRANCISCO — The University of California Hastings College of the Law (UC Hastings) has selected Greystar Real Estate Partners LLC as the master developer of its planned on-campus academic village in downtown San Francisco. Charleston, S.C.-based Greystar plans to build the $450 million project in two phases. “We are excited to be moving forward with Greystar to further develop this vibrant academic village in the heart of San Francisco,” says David Faigman, chancellor and dean at …

Campus Advantage, Stark Enterprises Break Ground on 618-Bed Student Housing Complex Near University of Florida

GAINESVILLE, FLA. — A joint venture between Campus Advantage and Stark Enterprises has broken ground on Liv+ Gainesville, a 618-bed student housing community located near the University of Florida. The 279,075-square-foot property will offer a range of floor plans, from studios to six-bedroom units with bed-to-bath parity. Shared amenities will include a fitness wing with a cardio room, free weight room and boxing equipment; a mini market with fresh snack and drink offerings; a coffee bar; …

Cushman & Wakefield Arranges Sale of 350-Unit Student Housing Community Near University of South Carolina

COLUMBIA, S.C. — Cushman & Wakefield has arranged the sale of The Southern @ 1051, a 350-unit student housing community located near the University of South Carolina in Columbia. The property offers one-, two-, three- and four-bedroom units. Community amenities include a swimming pool, clubhouse, package service, picnic and barbecue area, business center, fitness center and basketball and volleyball courts. Travis Prince, Victoria Marks, Jordan McCarley and Paul Marley of Cushman & …

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