Wednesday, July 16, 2025
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Student Housing

West-Grove-Commons-San-Francisco-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

San Francisco State University Completes 700-Bed Residence Hall Project

by Amy Works

SAN FRANCISCO — San Francisco State University (SFSU) has completed West Grove Commons, a 700-bed residence hall located on the university’s campus in San Francisco. The 120,000-square-foot community features a cluster format wherein groups of 35 students occupy triple rooms with a dedicated lounge and all-gender bathroom facilities. The six-story project was funded by a California Affordable Student Housing grant and the community will offer beds with a 25 percent reduction in room fees compared to SFSU’s standard rates. The project also includes a second 50,000-square-foot building, which will feature a dining commons and student health and wellbeing center. The development team for the project included general contractor McCarthy Building Cos. and EHDD Architecture.

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DevelopmentFloridaSoutheastStudent Housing

Joint Venture Breaks Ground on 674-Bed Student Housing Community Near Florida State University

by John Nelson

TALLAHASSEE, FLA. — A joint venture partnership between Portman, 908 Group, Canyon Partners Real Estate and PTM Partners has broken ground on The Hall, a 674-bed student housing development located near Florida State University in Tallahassee. The property is scheduled for completion in spring 2026. The development site is located within a Qualified Opportunity Zone across from Legacy Hall, the future home of the university’s FSU College of Business. The community will offer 191 units across two mid-rise buildings. Shared amenities will include a rooftop swimming pool and a high-end fitness center. The development will also feature 7,689 square feet of ground floor retail space and 452 parking spaces. The joint venture recently secured $73.3 million in construction financing from Pacific Life Insurance Co. for the project. TSB Capital Advisors acted as financial advisor to Portman and 908 Group in the deal. The development team for The Hall includes general contractor Favergray.

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DevelopmentKentuckySoutheastStudent Housing

Public-Private Partnership to Develop 649-Bed Residence Hall at University of Kentucky

by John Nelson

LEXINGTON, KY. — A public-private partnership between Harrison Street, Greystar Real Estate Partners and the University of Kentucky is set to break ground on a 649-bed residence hall project on the university’s campus in Lexington. The community will replace the university’s former Kirwan-Blanding Complex and offer 344 units. The project is being developed to support the institution’s enrollment growth, as a record number of first-year students were admitted to the university at the start of the past academic year. Further details on the community, which is expected for completion in 2026, were not disclosed. This development is the latest by this partnership, joining 14 existing residence halls consisting of 6,850 beds on the university’s campus.

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AcquisitionsArkansasSoutheastStudent Housing

SAM, Virtus Acquire Student Housing Community Near University of Arkansas for $72.3M

by John Nelson

FAYETTEVILLE, ARK. — A joint venture between Strategic Asset Management (SAM) and Virtus Real Estate Capital has acquired YOUnion@Fayetteville, a 589-bed student housing development located near the University of Arkansas campus in Fayetteville. The project was acquired from Strategic Student & Senior Housing Trust Inc. — a public, non-traded REIT sponsored by SAM — for $72.3 million. An undisclosed affiliate of SAM will serve as property manager on behalf of the joint venture. TSB Capital Advisors consulted on the joint venture and arranged acquisition financing on behalf of SAM and Virtus. YOUnion@Fayetteville offers 198 fully furnished units in one-, two-, three- and four-bedroom configurations. The property is fully leased for the 2024-2025 academic year.

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LoansNorth CarolinaSoutheastStudent Housing

Cushman & Wakefield Arranges $77M Refinancing for Student Housing Community at UNC Charlotte

by John Nelson

CHARLOTTE, N.C. — Cushman & Wakefield has arranged $77 million in refinancing for Junction 49, a newly developed student housing community serving the University of North Carolina at Charlotte (UNC Charlotte). Gideon Gil, Zach Kraft, Dale Braverman and Travis Prince of Cushman & Wakefield represented the borrower, SR Real Estate Partners and Circle Squared Alternative Investments, in securing the loan. Macquarie Capital Principal Finance provided the financing. Located at 7600 University City Blvd., the 370,883-square-foot property totals 754 beds and 12,396 square feet of amenity space. Junction 49 features private and group study rooms on each floor, a lounge area, game room, market, 24-hour fitness center, swimming pool, hot tub, poolside cabanas, outdoor grilling stations and two courtyards.

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Verve-Madison
FeaturesStudent Housing

Student Housing Developers Learn to Build More Product With Fewer Resources

by Katie Sloan

High interest rates and stubborn inflation have somewhat hindered the days of excess — for both student housing developers and their residents. Yet, the need for more student housing units continues. Student accommodations booking platform Amber notes that the 175 largest U.S. universities can only provide housing for 22 percent of their undergraduates. New deliveries have also slowed, with the average annual number of new bed deliveries coming in at 33,700 between 2021 and 2023. The average number of beds delivered annually between 2013 and 2020 was 56,200, according to JLL Capital Markets.  This has led some colleges and universities to get creative when housing is scarce and development is not only cost consuming, but time consuming.  “In some cases, universities lease all or a portion of our neighboring communities when they need more housing inventory than presently available on campus,” says James Wilhelm, chief development officer at American Campus Communities (ACC). “In addition, some universities have approached us to purchase our off-campus assets to grow and expand their upper-division student housing offerings. The purchase of our communities is generally fueled by a desire to add beds on an expedited timeline at a fraction of the cost of new construction.” …

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Uptown-Square-San-Marcos
AcquisitionsMultifamilyStudent HousingTexas

Inland Private Capital Sells 512-Bed Student Housing Property in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Illinois-based Inland Private Capital Corp. (IPC) has sold Uptown Square, a 512-bed student housing property located in the Central Texas city of San Marcos. Built in 2015, the 316-unit property serves students at Texas State University and features studio, one- and two-bedroom floor plans. Amenities include a pool, fitness center, business center, outdoor grilling and dining stations and a dog park. Uptown Square is 91 percent preleased in advance of the 2024-2025 academic year. Peter Katz of Institutional Property Advisors, a division of Marcus & Millichap, represented Inland in the transaction. Greystar purchased the property for an undisclosed price.

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DevelopmentSouth CarolinaSoutheastStudent Housing

Holder Properties, USC Foundations to Begin Leasing 940-Bed Student Housing Community in Columbia

by John Nelson

COLUMBIA, S.C. — Construction is underway and leasing will begin next month on Gateway 737, a 940-bed student housing development located on the University of South Carolina campus in Columbia. The project is being developed by a public-private partnership between Holder Properties and the University of South Carolina Foundations and is expected for completion in August 2025. Gateway 737 is the second community developed by the partnership. The community will include 12,500 square feet of retail space, a three-story meeting and event space and dedicated parking spaces. Shared amenities will include a rooftop lounge, two-story fitness center, resort-style swimming pool, tech lounge and a game room. The community will offer fully furnished units in studio, two-, three- and four-bedroom configurations.

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DevelopmentFloridaSoutheastStudent Housing

Landmark, Atlantic American Complete 702-Bed Student Housing Development Near FSU

by John Nelson

TALLAHASSEE, FLA. — A joint venture between Landmark Properties and Atlantic American Partners has completed The Metropolitan Tallahassee, a 702-bed student housing development located near the Florida State University campus in Tallahassee. Located at 1701 W. Pensacola St., the mid-rise project offers 217 fully furnished units in two- through four-bedroom configurations. Shared amenities include a swimming pool, jumbotron, outdoor recreation and grilling areas, a gaming lawn, putting green, fitness center, study spaces and onsite parking. The development team for the project included Dwell Design Studio and Landmark Construction, the in-house construction arm of Landmark Properties.

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DevelopmentSoutheastStudent HousingVirginia

Pinecrest Delivers 509-Bed Student Housing Development Near VCU in Richmond

by John Nelson

RICHMOND, VA. — Pinecrest has delivered Parc View at Commonwealth, a 509-bed student housing development located pedestrian to the Virginia Commonwealth University (VCU) campus in Richmond. The 16-story community spans 275,000 square feet and offers units in one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a rooftop sky deck, art room, fitness center and collaborative study spaces. The development team for the project included Rycon Construction Inc. as general contractor; Hickok Cole Architects; Timmons Group as civil engineer; and University Partners as managing operator. CIBC Bank USA provided construction financing for the development.

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