Student Housing

Landmark Properties Breaks Ground on Four Student Housing Communities Totaling $600M

by Alex Tostado November 18, 2020

ATHENS, GA. — Landmark Properties has broken ground on four student housing developments in the Southeast worth $600 million in value. New projects include Phase II of The Mark at Athens near the University of Georgia (UGA); The Standard at College Park near the University of Maryland; Legacy at The Standard near the University of Florida (UF); and The Retreat at Kennesaw near Kennesaw State University (KSU) in metro Atlanta. Phase II of The Mark at Athens is located adjacent to the UGA campus and will offer studio, one-, two-, three-, four- and five-bedroom units alongside 19,000 square feet of ground-floor retail space. The project is set for completion in fall 2022. The Standard at College Park will offer 951 beds in studio, one-, two-, three-, four- and five-bedroom units. Community amenities will include a fitness center, sauna, computer lab and study lounge. The development is slated for completion in fall 2023. Legacy at The Standard is located three blocks north of UF’s campus and will offer 155 units totaling 543 beds. The community is scheduled for delivery in fall 2022 and will feature shared amenities including an outdoor pool and grilling area, a study lounge and café, computer lab and …

November 18, 2020

Alabama Development Multifamily Southeast Student Housing

Aptitude Development Breaks Ground on 409-Bed Student Housing Community Near UAB in Birmingham

by Alex Tostado November 12, 2020

BIRMINGHAM, ALA. — Elmwood Park, N.J.-based Aptitude Development has broken ground on The Marshall Birmingham, a 409-bed student housing community located near the University of Alabama at Birmingham (UAB). The 200,000-square-foot, seven-story building will feature shared amenities including a fitness center, resident lounges, breakout areas, open-air social space, courtyards and a pool. Construction is expected to be completed in summer 2022. The design team comprises Stone Construction, BSB Design and CHA Engineering.

November 12, 2020

Development Florida Southeast Student Housing

Spectra Breaks Ground on 180-Bed Student Housing Community Near University of West Florida

by John Nelson November 6, 2020

PENSACOLA, FLA. — Spectra Student Living has begun construction on Rhelm, a 180-bed student housing community located a half-mile south of the University of West Florida campus in Pensacola. The property is scheduled for completion in August 2021. The community will feature eight three-story buildings offering 66 units alongside shared amenities including a media production room, computer center, swimming pool and sundeck, private study areas, a gaming area and indoor bike storage. Spectra Student Living is a student housing developer and investor based in Indianapolis. The company’s management division, Spectra Management LLC, operates Rhelm. The property’s leasing office is now open and all units are priced per bed and include most utilities.

November 6, 2020

Loans Multifamily Student Housing Texas

Marcus & Millichap Arranges Acquisition Loan for 475-Bed Student Housing Property in Stillwater, Oklahoma

by Taylor Williams November 6, 2020

STILLWATER, OKLA. — Marcus & Millichap has arranged a bridge loan of an undisclosed amount for the recapitalization and acquisition of a 475-bed student housing property located one block from Oklahoma State University in Stillwater. Todd McNeill and Jacob Rich of Marcus & Millichap arranged the 36-month, nonrecourse loan on behalf of the undisclosed borrower. The name of the property and direct lender were also not disclosed.

November 6, 2020

Acquisitions Multifamily Student Housing Texas

Ocean West Acquires 18-Story Student Housing Building Near UT Austin

by Taylor Williams November 3, 2020

AUSTIN, TEXAS — An investment group led by Ocean West Capital Partners has acquired Moontower, an 18-story student housing building serving the University of Texas at Austin. Lincoln Ventures recently completed the property, which offers 567 beds and opened before the fall 2020 semester at near 100 percent occupancy. Amenities include a rooftop pool and lounge, a fitness center with yoga and spin studios, coffee bar, study lounge and private study rooms. Ryan Lang and Jack Brett of Newmark represented Lincoln Ventures in the sale.

November 3, 2020

Conference Coverage Features Multifamily Student Housing

Student Housing Internet Providers Hustle to Upgrade Capabilities During Pandemic, Says NMHC/InterFace Panel

by Alex Tostado October 30, 2020

One of the biggest challenges during the COVID-19 pandemic for student housing internet providers has been upgrading their bandwidth capabilities to ensure that all students in a community have reliable and fast connections. The proliferation of video calling between students and professors during the pandemic has been a major driver of this hustle to upgrade connectivity services. The number of megabits per second needed for a Zoom call is something that today’s networks can handle, according to Daniel Myers, president and founder of DojoNetworks and a speaker at the NMHC/InterFace Student Housing Conference. The National Multifamily Housing Council (NMHC) and InterFace Conference Group co-hosted the virtual event, which took place from Oct. 19 to 22. The organizations’ physical events normally take place in April (InterFace Student Housing) and October (NMHC Student Housing). One problem that the panelists of the Internet Connectivity and Technology panel spoke about was hosting multiple students on the same network simultaneously. A Zoom call requires two-and-a-half megabits per second to upstream (when the video is input) and downstream (when the video is distributed), according to Myers. “If you have five students on a call and they only have eight or 10 megabits upstream, then they’re stuck …

October 30, 2020

Acquisitions Illinois Midwest Multifamily Student Housing

GMH Capital, AGC Equity Acquire The Dean Student Housing Asset in Champaign, Illinois

by Kristin Harlow October 29, 2020

CHAMPAIGN, ILL. — GMH Capital Partners LP and AGC Equity Partners have acquired The Dean, a 672-bed student housing property in Champaign, for an undisclosed price. The seller, Core Spaces, completed development of the property this past summer. Spanning 240,737 square feet and rising 17 stories, The Dean is an off-campus community serving the University of Illinois-Urbana Champaign campus. Its ground-floor retail space houses Target and Jimmy John’s. Units average 683 square feet and contain private bathrooms and modern finishes. Amenities include a fitness center, rooftop sundeck, pool, hot tub, outdoor lounge and multiple study areas. Monthly rents start at $695 for shared units.

October 29, 2020

Features Multifamily Student Housing

Despite High Materials Costs, Student Housing Builders Don’t See Slowdown, Says NMHC/InterFace Panel

by Kristin Harlow October 27, 2020

One of the most pressing issues for general contractors today is the high cost of lumber. In the past five months, the cost of lumber has increased nearly 100 percent on projects, according to Justin Walker, president of Construction Enterprises Inc. Luckily, his firm had locked in the cost of materials prior to the pandemic on all but one of its current projects. Walker’s comments came during the Construction Market Update at the 2020 NMHC/InterFace Student Housing Conference. Joining Walker on the panel were David Mellema, director of preconstruction for The Weitz Co.; and Mark Knott, vice president with Project Management Advisors Inc. Brent Little, president of Fountain Residential Partners, moderated the discussion. The National Multifamily Council (NMHC) and InterFace Conference Group co-hosted the virtual conference, which took place Oct. 19 to 22. When the COVID-19 pandemic hit, the lumber mills had to take a step back with their production and close some plants, said Walker. “The construction industry, housing market and multifamily market never slowed down, but the actual production of the mills did.” The producer price index (PPI) for inputs to construction — a measure of both goods and services used in every type of construction — increased …

October 27, 2020

Conference Coverage Features Student Housing

COVID-19 Crisis Brings Student Housing Industry Closer Together, Say Operators at NMHC-InterFace Event

by John Nelson October 23, 2020

Author John C. Maxwell coined the phrase “Teamwork makes the dream work,” and student housing operators are experiencing that truism firsthand as they deal with the nightmare scenario of the pandemic and its ripple effects. Closed campuses, virtual learning, COVID-19 outbreak concerns and an uncertain leasing season next spring are all challenges that property managers are tackling in real time. Ironically, industry professionals say that the pandemic may actually be a net positive in the long run as it has forged colleagues closer to one another. Demi Sterling-Kinney, vice president of operations at Aspen Heights Partners, a student housing owner and operator based in Austin, said that she met with her property managers more during the pandemic than she would in a normal year. “I feel like the shakeup was good; It was painful in the moment, but overnight it seemed like we were at war and we were all coming at it together,” said Sterling-Kinney. “It felt like everyone came together to be one team.” Sterling-Kinney’s comments were made during the Leasing & Marketing Spotlight panel at the 2020 NMHC/InterFace Student Housing Conference, a joint production between the National Multifamily Housing Council, France Media’s InterFace Conference Group and Student …

October 23, 2020

Acquisitions Florida Multifamily Southeast Student Housing

Preiss, Crow Holdings Acquire 752-Bed Student Housing Community Near Florida State University

by Alex Tostado October 22, 2020

TALLAHASSEE, FLA. — A joint venture between The Preiss Co. and a private equity fund advised by Crow Holdings Capital has acquired Quantum on West Call, a 752-bed student housing community located near Florida State University in Tallahassee. The property offers one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Communal amenities include a 24-hour fitness center, pool, yoga center, clubhouse, theater, cyber lounge, individual study nooks, group study spaces and a sundeck with hammocks and grilling stations. The new ownership plans to begin renovations on half of the 225 units to upgrade vinyl plank flooring in the common areas and improve internet connectivity. Terms of the transaction and the seller were not disclosed.

October 22, 2020

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