Student Housing

ORLANDO, FLA. — Subtext and Nuveen Real Estate have recently acquired a 3.1-acre lot at 3133 N. Alafaya Trail in Orlando, less than a quarter-mile from the campus of University of Central Florida. The co-developers have begun site work for VERVE Orlando, a new 626-bed student housing development that will span nearly 450,000 square feet across 200 units. The project will feature 32,000 square feet of indoor and outdoor amenities, including open study spaces, private study rooms, a podcast/content creation studio, fitness center, wellness suite, gaming lounge, club room with indoor/outdoor bar and kitchen, beach resort-style pool courtyard and a dog run, as well as 573 parking spaces. Subtext and Nuveen expect to deliver VERVE Orlando in 2026.

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ANN ARBOR, MICH. — IPA Capital Markets, a division of Marcus & Millichap, has arranged a $17 million loan for the acquisition of a 62-unit student housing property adjacent to the University of Michigan’s main campus in Ann Arbor. Max Hulsh, Max Herzog, Marko Kazanjian and Andrew Cohen of IPA arranged the loan through A10 Capital on behalf of the borrower, Havenly Ventures, a New York City-based real estate investment firm that specializes in value-add acquisitions primarily in the student housing sector. The buyer plans to densify the property’s oversized two-bedroom units into four-bedroom units. The asset has maintained full occupancy for over 25 years.

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Varsity-Apts-Berkeley-CA

BERKELEY, CALIF. — Barings has divested of Varsity Berkeley, a purpose-built student housing property in Berkeley. Hawkins Way Capital acquired the asset for an undisclosed price. Within walking distance of the University of California, Berkeley campus, Varsity Berkeley offers 79 units totaling 263 beds in a mix of furnished and unfurnished studio, two- and three-bedroom floor plans with fully equipped kitchens and bathrooms that include washers and dryers. Community amenities include a rooftop terrace and sun deck, a recently renovated resident lounge, ground-floor courtyard with firepit and electric car charge. Peter Katz and Salvatore Saglimbeni of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Tony Solomon served as Marcus & Millichap’s broker of record in California.

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Otto-College-Station

COLLEGE STATION, TEXAS — Austin-based student housing owner-operator Parallel has completed Otto, a 745-bed development located near the Texas A&M University campus in College Station. The property offers studio through six-bedroom floor plans. Amenities include a pool, hot tub, outdoor kitchen, full-service smart market, dog spa, sky lounge and a fitness/wellness center with barre and yoga studios and dry saunas. The community also features multi-level lounges with coworking spaces, conference rooms and private study pods. BOKA Powell designed the project, and Rogers O’ Brien Construction served as general contractor.

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Standard-Eugene-OR

EUGENE, ORE. — Landmark Properties has completed The Standard at Eugene, a 703-bed student housing development located near the University of Oregon campus in Eugene. The community offers 247 units across 265,000 square feet of residential space in studio through five-bedroom configurations. Shared amenities include a rooftop swimming pool with a jumbotron, grilling areas, hammocks and cabanas; a fitness center with an indoor rock climbing wall; an academic lounge with private study rooms; a resident club and game room; and onsite parking. The community is Landmark’s second development in Oregon, following the delivery of The Retreat at Corvallis near Oregon State University. The development team for the seven-story community included Ankrom Moisan Architects and Landmark Construction, the in-house construction arm of Landmark Properties.

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MADISON, WIS. — Developer Subtext and Harrison Street have completed VERVE Madison, a 12-story student housing development located two blocks from the University of Wisconsin-Madison. ESG Architecture & Design served as the architect for the 536-bed, 142-unit community. The project team also included Stevens Construction Corp., civil engineer JSD Professional Services and landscape architect Damon Farber. Harrison Street served as the lead investor, while Old National Bank was the lender. The 278,143-square-foot property offers fully furnished one-, two-, three-, four- and five-bedroom units. The rooftop features a pool, hot tub, cabanas and gardens. Additional amenities include a multipurpose turf and game zone, fitness center with sauna, second-floor terrace courtyard and study areas. VERVE Madison is fully leased.

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MADISON, WIS. — CRG has completed Chapter Madison, a 534-bed student housing development neighboring the University of Wisconsin-Madison. Located in the heart of Madison’s historic Greenbush neighborhood and designed by Lamar Johnson Collaborative, the 10-story project features 165 units in various floor plans ranging from studios to five bedrooms. Amenities include a fitness center, yoga studio, private study spaces and a rooftop terrace. The development also features a cultural exhibit that pays homage to the area’s heritage through murals and a first-floor corridor display. Chapter Madison is fully leased.

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GREENVILLE, S.C. — Furman University has completed the development of Lakeview Hall, a new student housing community at the South Housing area of the university’s campus in Greenville. Amenities at the property, which totals 210 beds, include study spaces, common areas, a laundry facility, full kitchen and offices for the Center for Interpersonal Connections (CIC). McMillan Pazdan Smith and Mackey Mitchell Architects served as architects for the development, with Harper General Contractors acting as the general contractor. Engineers included RMF Engineering, Professional Engineering Associates and ADC Engineering. The new residence hall marks the first phase of a multi-phase project that will also include renovations to older residential buildings within the South Housing portion of the campus. Upon completion, South Housing will total 718 beds for first-year students.

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Icon-rendering

AUSTIN, TEXAS — Hoar Construction has topped out Icon, a 30-story student housing tower in the West Campus neighborhood of the University of Texas at Austin. The MDL Group is the developer for the project, which will house 555 beds across 216 units ranging from one- to five-bedroom layouts. Amenities will include a rooftop pool, fitness center, game and lounge rooms, podcast studio and student workspaces. The project will also feature four levels of below-ground parking. Project partners include Rhode Partners (architect), DCI Engineers (structural engineer) and Blum Engineering (mechanical, electrical and plumbing). Construction began last spring. Completion is slated for summer 2025.

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oLiv Madison Student Housing, Madison, Wisconsin

CHICAGO — Core Spaces has completed six student housing communities totaling 4,549 beds across the United States. All six communities have opened to residents ahead of the 2024-2025 school year. The communities are all located near the campuses of major universities, including UC Berkeley, University of Cincinnati, Penn State, University of Wisconsin-Madison and Clemson University. The six new properties include: The communities feature a variety of high-end, student-focused amenities. For example, ōLiv Madison boasts a spa, sauna, fitness center, coworking spaces, private study rooms and a sprawling rooftop sundeck with pool and hot tub. Each property offers a diverse mix of floor plans and unit types to appeal to a range of resident needs and price points. “After years of work to bring a project to life, welcoming new residents home is one of the best parts of what we do,” said Marc Lifshin, CEO of Core Spaces. Core Spaces is a residential developer, owner and operator headquartered in Chicago. The company currently owns or manages more than 38,600 beds. The developer currently has a pipeline of approximately 43,000 beds. The pipeline includes an 800-bed project in Knoxville, Tennessee; three developments in Madison totaling 4,000 beds; a 665-unit, 2,195-bed project in …

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