STORRS, CONN. — A joint venture between Georgia-based Landmark Properties and Manulife Investment Management will develop The Standard at Four Corners, an 890-bed student housing project that will be located near the University of Connecticut in Storrs. The project will offer studio, one-, two- and three-bedroom units and amenities such as a pool, study lounges, a fitness center, computer lab and gaming lounge. The community will also feature 14,500 square feet of ground floor retail space. Completion is slated for August 2025.
WACO, TEXAS — Newsome Development & Investments has sold 11th Street Flats, a 134-bed student housing property located near Baylor University in Waco. The community was constructed in 2015 and offers 45 units in a mix of two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a fitness center, study lounge and deck with campus views. Teddy Leatherman, Stewart Hayes and Scott Clifton of JLL represented the seller in the disposition of the property to Waterway Family Funds.
ANAHEIM, CALIF. — Berkadia Institutional Solutions has arranged the sale of Anavia, an apartment community in Anaheim’s Platinum Triangle area. Essex sold the asset to Chapman University for an undisclosed price. Tom Moran of Berkadia Irvine handled the off-market transaction. Originally built as a for-sale condominium project, Anavia features 250-units/550 beds with an average unit size of 1,249 square feet. The buyer plans to convert the property into student housing.
Subtext Begins Development of 536-Bed Student Housing Community Near University of Wisconsin-Madison
MADISON, WIS. — Subtext has begun development of VERVE Madison, a 536-bed student housing community located within walking distance of the University of Wisconsin-Madison campus. The project will rise 12 stories at 506 W. Johnson St. Completion is slated for fall 2024. In addition to fully furnished units, VERVE Madison will feature 19,000 square feet of amenity space with a rooftop pool, outdoor terrace, fitness center, coffee bar, study lounge, dog walk and pet spa. Stevens Construction Corp. is the general contractor and ESG is the architect.
BERKELEY, CALIF. — Valiance Capital has acquired a development site at 2538 Durant Ave. near the University of California, Berkeley campus. The company plans to replace an existing 12-unit apartment building on the site with an eight-story community offering 270 beds across 83 units. The development is also set to include 5,000 square feet of ground-floor retail space. Jeffrey Eliason and Leland Ortega of Highland Realty Capital arranged $10.5 million in acquisition and pre-development funding on behalf of Valiance. Chris Hetzel of ACRES’ Philadelphia office originated the loan. “2538 Durant is going to help transform the Berkeley city skyline and provide an incredible opportunity to address a substantial housing need for students,” says Nhan Nguyen Le, principal and founder of Valiance Capital. Further details on the project, including a timeline for the development, were not announced.
BERKELEY, CALIF. — Landmark Properties has announced plans to develop a multifamily community near the University of California, Berkeley. The development will be located at 2190 Shattuck Ave. within Berkeley’s restaurant district, and is set to serve students attending the university, as well as faculty and staff. The project will offer units in studio to five-bedroom configurations, with 10 percent of available units designated as affordable housing. Each unit will be fully furnished, and most will offer bed-to-bath parity. Shared amenities are set to include a 7,000-square-foot rooftop deck, dog park, hot tub, fitness center, computer lab and study lounges. The project will also include 7,500 square feet of ground floor retail space and is set for completion in fall 2026. “Landmark is excited to work with the City of Berkeley on the entitlements for our third project in the Berkeley market,” says President and CEO Wes Rogers. “Landmark continues to see a need for well-located, purpose-built, university-focused housing in Berkeley and we look forward to delivering this project as a complement to our two operational apartment communities serving the Berkeley market.”
DENVER — Berkadia has negotiated the sale of University Lofts, a mixed-use student housing community in Denver. Amplify Development Co. sold the property to an undisclosed buyer for $24.5 million. Located at 2372 E. Evans Ave., University Lofts features 36 units totaling 98 beds in a mix of studio, two- and four-bedroom layouts. Community amenities include a newly renovated student lobby, heated underground parking and street-level retail. Kevin Larimer, Brandon Buell, Nick Steele, Tyler King and Nate Moyer of Berkadia represented the seller in the transaction.
TAMPA, FLA. — The University of Tampa has broken ground on a 10-story, 460,000-square-foot multipurpose building that will be the largest facility on campus when completed in 2024. The property will feature a 600-bed residence hall, 37 faculty offices, five classrooms, study rooms, study lounge designated for military veterans, a ground-level Starbucks, four levels of parking and spaces dedicated for the school’s Office of Diversity, Equity and Inclusion, Institute for Sales Excellence and the International Programs Office. Additionally, students living in the building will have access to a 9,000-square-foot “sky park.” The design-build team includes Baker Barrios Architects and KWJ Architects. The University of Tampa has an estimated student enrollment of 10,600 for the current academic year, which is the 91-year-old university’s largest student body to date.
COLLEGE STATION, TEXAS — Tailwind Group has acquired Campus Crossings on Marion Pugh, a 628-bed student housing property located near Texas A&M University in College Station. The community comprises 30 residential buildings offering a mix of one- and two-bedroom units. Shared amenities include two pools, a clubhouse, business center, dog park, fire pits and barbecue grills, as well as sand volleyball, tennis and basketball courts. The new ownership has plans to rebrand the property and invest in significant capital improvements. Campus Apartments sold the property. Brandon Buell of Berkadia brokered the deal.
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The Evolution of Internet Setups: How Student Housing Internet Preferences Are Influencing Traditional Multifamily
Multifamily properties have witnessed a rapid expansion in Internet needs, a trend presaged by burgeoning Internet demands in student housing. Multifamily residents have increased their connection demands and are becoming increasingly sophisticated in their requirements for high-quality Internet. What can the lessons of student housing connectivity teach us about traditional multifamily trends, especially when it comes to bulk Internet? Bulk Internet approaches allow for more sophistication in multifamily properties, as demonstrated by student housing best practices. Student housing pioneered built-in networks to keep mobile devices from competing for Wi-Fi bandwidth, minimize downtime and use fiber connections to ensure speed and reliability. This style of network is becoming the gold standard for constant, heavy-duty Internet use in multi-dwelling units (MDUs). High-level connectivity is becoming an absolute necessity for multifamily properties, drawing in residents and improving their Internet-driven lifestyles. And as never-before-seen demand for bandwidth is graduating from dorm rooms to traditional apartments, well-planned multifamily Internet connections can help operators adapt gracefully. COVID’s Role in Internet Use Expansion COVID lockdowns accelerated already growing Internet requirements, which pushed Internet quality to the forefront as connectivity became increasingly important. “COVID put the spotlight on properties to make sure they had great infrastructure. The demand …