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Student Housing

DevelopmentIllinoisLoansMidwestMultifamilyStudent Housing

Cushman & Wakefield Arranges Equity Financing for University of Illinois Student Housing Development with 241 Beds

by Kristin Harlow

CHAMPAIGN, ILL. — Cushman & Wakefield has arranged limited partner (LP) equity financing for the development of 505 S 5th Street, a Class A student housing project in Champaign serving students attending the University of Illinois’ Urbana-Champaign campus. The project will be located adjacent to campus and in the heart of Campustown. The development site is fully entitled and shovel-ready, with groundbreaking slated for this month. Completion is anticipated ahead of the 2026-2027 academic school year. The community will feature 241 beds and amenities such as a fitness center, yoga studio, sauna, study rooms, business center, clubroom and outdoor lounge area. Kristian Brown, Travis Prince, Shawn Lubic, Victoria Marks, Susan Tjarksen and Brendon Urban of Cushman & Wakefield arranged the financing on behalf of Hartman Capital, a Champaign-based firm specializing in student housing at the University of Illinois. Quilvest Capital Partners, a global private investment firm, provided the LP equity.

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AcquisitionsSoutheastStudent HousingTennessee

Muinzer, Kayne Anderson Recapitalize 1,356-Bed Student Housing Portfolio Near University of Tennessee

by John Nelson

KNOXVILLE, TENN. — Private equity investment firm Muinzer has partnered with Kayne Anderson Real Estate to recapitalize a two-property student housing portfolio near the University of Tennessee in Knoxville. The 1,356-bed portfolio, which includes The Heights of Knoxville and University Park, was fully occupied at the time of the transaction. Scott Clifton, Kevin Kazlow and Teddy Leatherman of JLL arranged the recapitalization. Los Angeles-based Muinzer originally acquired the two student housing properties in 2021 in a partnership with T2 Capital Management. Further details of the company’s recapitalization with Kayne Anderson were not released.

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DevelopmentStudent HousingTexasTop Stories

Subtext, Larson Capital Management to Develop 1,738-Bed Student Housing Project Near Texas A&M University

by John Nelson

COLLEGE STATION, TEXAS — Subtext, a student housing and multifamily owner-operator based in St. Louis, has partnered with Larson Capital Management for a two-phase student housing development near Texas A&M University in College Station. The project will include EVER College Station (176 units, 545 beds) and VERVE College Station (382 units, 1,193 beds), which will be situated across the street from one another in the city’s Northgate Entertainment District, less than two blocks from campus. EVER will rise seven stories at 401 Stasney St. and include 420 parking spaces, while VERVE will rise 21 stories at 311 Stasney St. and feature 882 parking spaces. The properties will feature layouts ranging from studios to five-bedroom apartments, as well as a combined 55,000 square feet of amenity space (29,000 square feet of indoor and 26,000 square feet of outdoor). The specific amenity offerings will include open lounges, study rooms, a coffee bar, mini market, fitness center, sauna, meditation rooms, outdoor fitness spaces, multi-sport simulator, indoor/outdoor bar and kitchen. Other amenities will include a resort-style pool with poolside cabanas, a jumbotron TV and a sky lounge with a spa, as well as outdoor grilling stations, fire pits, a dog run and a game …

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AcquisitionsFloridaSoutheastStudent Housing

Centurion Property Group Acquires 770-Bed Student Housing Community Near University of Florida

by John Nelson

GAINESVILLE, FLA. — Centurion Property Group has acquired CANOPY, a 770-bed student housing community located near the University of Florida campus in Gainesville. Originally built in 2008, the property offers a mix of two-, three- and four-bedroom floorplans. Amenities include a resort-style swimming pool, fitness center, study lounge, dog park, clubhouse, business center and a sand volleyball court. The new ownership plans to immediately begin making improvements to CANOPY. Newmark brokered the transaction. The seller and additional terms of the deal were not disclosed.

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DevelopmentNorth CarolinaSoutheastStudent HousingTennessee

Preiss, FD Stonewater to Break Ground on Two Student Housing Developments Near NC State and University of Tennessee

by John Nelson

RALEIGH, N.C. AND KNOXVILLE, TENN. — A joint venture between The Preiss Co. and FD Stonewater has acquired sites for two student housing developments in North Carolina and Tennessee. Projects will includes Signature on Grand, located near the University of Tennessee in Knoxville; and Signature on Varsity, which will serve students attending North Carolina State University in Raleigh. The communities will offer over 1,200 beds in studio through five-bedroom configurations. Shared amenities will include resort-style pools, state-of-the-art fitness centers, study lounges and social spaces. The communities will be developed in partnership with Monarch Alternative Capital and are scheduled for completion in fall 2027. Ian Walker and Ben Roelke of Newmark secured debt and construction financing for the communities. Teddy Leatherman and Jayme Nelson of JLL secured additional equity for the projects.

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AcquisitionsKentuckySoutheastStudent Housing

Article Student Living, Barings Acquire 1,060-Bed Student Housing Community Near University of Kentucky

by John Nelson

LEXINGTON, KY. — A joint venture between Article Student Living and Barings has acquired 5 Twenty Four and 5 Twenty Five Angliana, a 1,060-bed student housing development located near the University of Kentucky campus in Lexington. The property includes 13 buildings spanning 427,200 square feet across 30 acres. The community offers 376 fully furnished units in one- through four-bedroom configurations. Shared amenities include two fitness centers; two swimming pools with sun decks and lounges; two study centers; private study space; a half basketball court; game room; movie theater; and onsite parking. The new ownership plans to renovate the community’s amenity spaces and unit interiors. The seller and terms of the transaction were not released.

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Whitis-Hall-UT-Austin
DevelopmentMultifamilyStudent HousingTexas

Balfour Beatty, UT Austin Underway on $145M Student Housing Project

by Taylor Williams

AUSTIN, TEXAS — Balfour Beatty Campus Solutions and the University of Texas at Austin are underway on construction of a $145 million student housing project. The development will replace a six-building, 200-bed student housing complex located along Whitis Avenue on the northwestern part of the campus with a 1,070-bed building. The new student housing building will feature a mix of single and double rooms with community bathrooms, an area housing office and a variety of student amenities, including lounges, study spaces and a university-managed conference center. Clark Nexsen and Levy Dykema are the project architects, and Andres Construction is the general contractor. Demolitions of existing structures and preliminary sitework work commenced in June 2024, and the new facility is scheduled to open in advance of the fall 2027 semester.

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DevelopmentSouth CarolinaSoutheastStudent Housing

Stratus Development Breaks Ground on Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — Stratus Development Group has broken ground on Pickens Corner, a 60-bed student housing development located at 480 S. Pickens St. near the University of South Carolina campus in Columbia. Located in the city’s Rosewood neighborhood, Pickens Corner will offer townhomes featuring three bedrooms and three-and-a-half bathrooms. Completion on the project is scheduled for August 2025.

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2901-Nimitz-Blvd-San-Diego-CA
AcquisitionsCaliforniaDevelopmentHospitalityMultifamilyStudent HousingWestern

Ambient Communities Buys 110-Room Vacant Hotel in San Diego, Plans Multifamily Conversion

by Amy Works

SAN DIEGO — Ambient Communities has purchased Consulate Hotel, a shuttered hotel located at 2901 Nimitz Blvd. in San Diego’s Point Loma neighborhood, from Noble Legacy LLC for $17.4 million. Al Apuzzo, Matt Weaver, Alex Bentley and Brianna Lehman of Lee & Associates represented the seller, while Rick Wu and Austin Dias of Duhs Commercial represented the buyer in the transaction. The buyer plans to convert the property, which includes a bar (ABC 47), restaurant and amenity space, into market-rate and student housing apartments. The 63,234-square-foot building, situated on 0.9 acres, was originally built in 1971. The transaction closed with entitlements in place for the proposed redevelopment.

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HERE-Reno-NV
LoansMultifamilyNevadaStudent HousingWestern

JLL Arranges Refinancing of 636-Bed Student Housing Property in Reno, Nevada

by Amy Works

RENO, NEV. — JLL Capital Markets has arranged refinancing for HERE Reno, a student housing community serving the University of Nevada, Reno. JLL represented the borrower, Article Student Living, in facilitating the three-year, floating-rate financing with PPM America Inc. Located at 920 Evans Ave., HERE Reno offers 636 beds in studio, one-, two-, three-, four- and five-bedroom, fully furnished apartments, a 24-hour fitness center, a study lounge with private rooms, hot tub and sundeck, coffee and breakfast bar, clubroom with kitchen and gaming zones and a club lounge. The asset was built in 2022.

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