REBusinessOnline

Joint Venture Closes on $231M Bond Financing for Student Housing Project Near Florida International University

MIAMI — University Bridge GP — a partnership between Global City Development, RER Ventures and Podium Developments — has closed on a $231 million bond issuance for University Bridge Residences, an 886-unit student housing community currently under construction near Florida International University (FIU) in Miami. The joint venture is billing the project as Miami's first student condos. The bond represents the largest financing of its kind for an off-campus student housing building in …

Berkadia Arranges $19M Sale of Student Housing Property in Kalamazoo, Michigan

KALAMAZOO, MICH. — Berkadia has arranged the sale of 700 SoHo near Western Michigan University in Kalamazoo for $19 million. The 488-bed student housing property, located at 700 S. Howard St., consists of four-bedroom units. Amenities include a resort-style pool and renovated clubhouse. Kevin Larimer and Greg Gonzalez of Berkadia brokered the sale. A Pittsburgh-based real estate company acquired the

Student Quarters Acquires 698-Bed Student Housing Community Near the University of Oklahoma

NORMAN, OKLA. — Student Quarters has acquired Millennium Student Apartments, a 698-bed student housing community located near the University of Oklahoma in Norman. The property offers studio, two-, four- and five-bedroom units with bed-to-bath parity. Each unit — which may be rented fully furnished — features a flat screen TV, keyless entry and a patio or balcony. Shared amenities include a resort-style swimming pool, sun deck, hot tub, grilling areas, a gated pet park, study lounges, a …

CBRE Negotiates Sale of 464-Bed Student Housing Property in Austin

AUSTIN, TEXAS — CBRE has negotiated the sale of Aspen Heights West Campus, a 464-bed student housing property located three blocks from the University of Texas at Austin. The 17-story, 166-unit community features a pool, fitness center, private study areas, lounges and community kitchens. A joint venture between The Preiss Co. and TH Real Estate purchased the asset from Austin-based Aspen Heights Partners, which developed the property, for an undisclosed price. Jaclyn Fitts, William …

Gilbane Announces Two New Student Housing Developments in Arizona, Oregon

TEMPE, ARIZ., AND CORVALLIS, ORE. — Providence, R.I.-based Gilbane Development Co. has announced the launch of two new developments in Arizona and Oregon as part of five recently announced projects across the United States. The five properties total over 3,500 beds, with project costs valued at more than $400 million. In Tempe, Ariz., Gilbane is developing Alor, a three-building, purpose-built student housing and market-rate/workforce housing property. Situated 1,000 feet from Arizona …

RISE Begins Construction on 608-Bed Student Housing Project at Nova Southeastern Campus in Fort Lauderdale

FORT LAUDERDALE, FLA. — RISE: A Real Estate Co. has started construction on a 608-bed mixed-use development on the Nova Southeastern University campus in Fort Lauderdale. The 310,000-square-foot property will offer 280 units for upperclassmen at the site of the university’s former intramural soccer field. The community will include one-, two- and four-bedroom student apartments with full kitchens and in-unit washers and dryers, and each floor will include lounges and study rooms. The …

Campus Apartments Opens Four Student Housing Communities in Tennessee, Michigan, Pennsylvania

PHILADELPHIA — Campus Apartments, a student housing developer and operator based in Philadelphia, has opened four student housing developments totaling 1,643 beds. Development costs for the projects, which are within walking distance to University of Tennessee, University of Michigan and University of Pennsylvania, totaled over $220 million. “We’re excited to be providing students with high-quality housing in Knoxville, Ann Arbor, and our hometown, Philadelphia,” says Daniel …

FourPoint Brokers Sale of 480-Bed Student Housing Community in San Angelo, Texas

SAN ANGELO, TEXAS — Austin-based FourPoint Student Housing Investments has brokered the sale of Angelo Place, a 480-bed student housing community located adjacent to Angelo State University in San Angelo, roughly midway between Lubbock and San Antonio. Built in 2007, the 120-unit property features amenities such as a pool, fitness center, clubhouse and a full-sized basketball court. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint led the sales effort on behalf of the …

Coastal Ridge, M Group Acquire Student Housing Community Near Florida Gulf Coast University for $78.8M

FORT MYERS, FLA. — Coastal Ridge Real Estate and M Group have purchased The Reef, a 924-bed student housing community located adjacent to Florida Gulf Coast University in Fort Myers. Progressive Capital Group sold the asset to the partnership for $78.8 million. Kevin Larimer, Greg Gonzalez and Cole Whitaker of Berkadia arranged the transaction on behalf of Progressive. Constructed in two phases in 2016 and 2017, The Reef is a garden-style community featuring two resort-style pools with …

Vintage Capital Partners Sells 265-Bed Student Housing Community Near Dixie State University

ST. GEORGE, UTAH — Vintage Capital Partners, an investment affiliate of Redstone Residential, has sold Vintage Tabernacle, a 265-bed student housing community located near Dixie State University in St. George. The property opened in 2018 and offers two-, four- and five-bedroom units with shared amenities including a swimming pool and fitness center. An investor based in California acquired the community for an undisclosed price. Brock Zylstra and Danny Shin of Marcus & Millichap …

subscribe


Conferences