Student Housing

Developer Plans to Convert Park Tower Office Building to Student Housing Near California State University, Long Beach

by Amy Works March 6, 2023

LONG BEACH, CALIF. — Plans have been filed with the City of Long Beach for the conversion of Park Tower, a 119,287-square-foot office building, into a student housing community serving California State University, Long Beach. Fountain Residential Partners is leading the development and plans to break ground in late 2023. The property is set to offer 539 beds in on-campus-style residential suites with large lounge areas on each floor. Shared amenities will include study and meeting rooms on the ground floor; an Amazon Hub; fitness rooms; an indoor/outdoor dining patio; outdoor fitness turf; a wading pool and lounge area; flexible lawn space for gathering; and barbecue grills with picnic tables. The development is targeting LEED Gold certification and will include the implementation of both passive and active strategies towards sustainability. Green practices for the project are set to include the leveraging of natural light and ventilation, and the maximization of solar performance. Shuttle service to campus and the retainment of an existing Metro bus shelter have also been proposed at the site. The project is scheduled for completion in fall 2025.

March 6, 2023

Development Georgia Southeast Student Housing

Georgia Tech to Break Ground on $117M Residence Hall Development in Atlanta

by John Nelson February 27, 2023

ATLANTA — The University System of Georgia’s Board of Regents has approved a $117 million residence hall development on the Georgia Tech campus in Midtown Atlanta. The 191,000-square-foot community will offer 850 beds alongside collaborative learning spaces, community lounges and group kitchens. The project is being built to accommodate first-year student enrollment growth over the next 10 years, and to help relocate students during planned renovations to the university’s existing housing. The residence hall will be Georgia Tech’s first new construction since 2005 when 10th and Home opened according to Kasey Helton of Georgia Tech’s Campus Services division. Completion on the project is scheduled for fall 2026.

February 27, 2023

California Loans Multifamily Student Housing Western

Champion Real Estate Receives $16.1M Refinancing for Victory on Portland Student Housing Property in Los Angeles

by Amy Works February 21, 2023

LOS ANGELES — Champion Real Estate Co. has received a $16.1 million loan to refinance Victory on Portland, a 139-bed student housing community located at 2353 Portland St. in Los Angeles. The company, which purchased the asset in March 2020 for $14.1, secured the long-term, fixed-rate financing through Wintrust Bank. Champion renovated the property by upgrading the mechanical systems, renovating the interior units, enhancing curb appeal, increasing the amenity package and rebranding the community. The company also added eight units, totaling 37 beds, to the property.

February 21, 2023

Development Midwest Missouri Multifamily Student Housing

Aptitude Development to Break Ground on 508-Bed Student Housing Community Near St. Louis University

by Kristin Harlow February 20, 2023

ST. LOUIS — Aptitude Development is set to break ground on The Marshall St. Louis, a 508-bed student housing community located near St. Louis University. Construction is scheduled to begin this spring, with completion anticipated for fall 2025. Amenities will include an expansive hot tub, fitness facility, gaming lounge, collaborative and individual study spaces, café areas and fire pits. Aptitude is a student housing developer based in Elmwood Park, N.J.

February 20, 2023

Acquisitions South Carolina Southeast Student Housing

Eric Newton Real Estate Sells 380-Bed Student Housing Community Near Clemson University

by John Nelson February 16, 2023

CLEMSON, S.C. — Eric Newton Real Estate has sold Cambridge Creek Clemson, a 380-bed student housing community located near Clemson University in South Carolina. The property offers 132 townhome units in three- and four-bedroom configurations. Shared amenities include a resort-style swimming pool and tanning deck with cabanas; bathhouse; outdoor pavilion with TVs; and a clubhouse with study lounges, a coffee bar and fitness center. The buyer and terms of the off-market transaction were not disclosed.

February 16, 2023

Development Florida Loans Southeast Student Housing

Charles Street, ACRES Receive $63M Construction Financing for Student Housing Project Near Florida State University

by John Nelson February 14, 2023

TALLAHASSEE, FLA. — A joint venture between Charles Street Development and ACRES Realty Funding has received $63 million in construction financing for Renegade Apartments, a 153-unit student housing development in Tallahassee. The community will be located blocks from Florida State University’s campus at 501 Chapel Drive. Bayview Asset Management originated the financing, funding the debt stack through its wholly owned subsidiaries Bayview PACE and Oceanview Life and Annuity Co. The project’s design-build team includes Humphreys & Partners, HPA Design Group and Ruscilli Construction Co. Renegade Apartments is scheduled for completion in 2024 and will be leased and managed by Asset Living.

February 14, 2023

Acquisitions Multifamily Oregon Student Housing Western

Marcus & Millichap Negotiates Sale of 650-Bed Ducks Village Student Housing Community Near the University of Oregon

by Amy Works February 13, 2023

EUGENE, ORE. — Marcus & Millichap has arranged the sale of Ducks Village, a 650-bed student housing property located near the University of Oregon campus in Eugene. The 22-building community offers 230 units. Shared amenities include a renovated clubhouse, resort-style swimming pool, fire pits, a fitness center, basketball courts and a tanning booth. Joel Dumes and Patrick Mullowney of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.

February 13, 2023

Development Midwest Minnesota Multifamily Student Housing

Landmark Properties to Develop 1,021-Bed Student Housing Community Near University of Minnesota

by Kristin Harlow February 2, 2023

MINNEAPOLIS — Student housing developer Landmark Properties is undertaking its first development project in Minnesota, a 1,021-bed student housing community located within walking distance of the University of Minnesota in Minneapolis. Named The Standard at Dinkytown, the project will offer several floor plans ranging from studios to five-bedroom units with 30 affordable housing units. Rental rates at the property will include cable, internet, trash and all furniture. Amenities will include an outdoor pool area with a jumbotron, sun deck, cabanas, outdoor grilling stations and rooftop hot tub as well as a fitness center, clubhouse, gaming lounge, study lounge and Amazon package lockers. Construction is expected to begin this year and be completed in fall 2025. The University of Minnesota enrolls more than 50,000 students each fall.

February 2, 2023

Development Multifamily Student Housing Utah Western

Utah Tech University to Break Ground on 564-Bed Campus View Suites Residence Hall

by Amy Works February 1, 2023

ST. GEORGE, UTAH — Utah Tech University is set to break ground on the 564-bed third phase of its Campus View Suites residence hall project in St. George. Set to open in fall 2024, the final phase of the development will span 164,600 square feet. Shared amenities will include a fitness room; multipurpose room; laundry facilities, common kitchens and living rooms on each floor; indoor bike storage; game room; grocery store stocked with fresh fruit, vegetables and dairy; private and shared study rooms; and housing staff offices. The 352-bed first phase of development was delivered in fall 2016. The second phase of the project was completed in fall 2021 and offers 534 beds. The development team for Phase III includes DFCM, Layton Construction and Method Studio.

February 1, 2023

Loans Multifamily New Jersey Northeast Student Housing

PRC Group Receives $88.4M Refinancing for 612-Bed Student Housing Community in Ewing, New Jersey

by Taylor Williams January 31, 2023

EWING, N.J. — Locally based student housing development and management firm The PRC Group has received an $88.4 million loan for the refinancing of Campus Town at TCNJ, a 612-bed development located in the Northern New Jersey community of Ewing. The property, which serves students at The College of New Jersey, offers 184 units in one-, two- and four-bedroom floor plans alongside 78,787 square feet of ground-floor retail space. John Banas, Kristopher Wood, Christopher Philipps, Rhett Saltiel, Erik DiGirolamo and Sean Bailey of Walker & Dunlop arranged the financing on behalf of PRC Group. The direct lender was not disclosed.

January 31, 2023

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