Student Housing

Vesper Acquires Student Housing Community Near University of Delaware for $48M

by Taylor Williams June 28, 2019

NEWARK, DEL. — Vesper Holdings has acquired The Retreat at Newark, a 597-bed student housing community located near the University of Delaware campus in Newark, for $48 million. The property offers a mix of one-, two-, four- and five-bedroom units. Shared amenities include a basketball court, clubhouse, fitness center, tanning beds, a golf simulator, outdoor grilling areas, a pool, hot tub and a computer lounge. TSB Realty brokered the sale of the property on behalf of an undisclosed seller. Vesper plans to invest $1 million in capital improvements in order to renovate shared amenity spaces as well as make exterior improvements and substantial technology upgrades throughout the property.

June 28, 2019

Development Multifamily Southeast Student Housing Virginia

Franklin Johnston, Virginia Wesleyan University Begin Construction on 244-Unit Student Housing Community

by Alex Tostado June 25, 2019

VIRGINIA BEACH, VA. — The Franklin Johnston Group and Virginia Wesleyan University (VWU) have broken ground on Coastal 61 at Oxford Village, a planned 244-unit apartment complex situated adjacent to the university. The new community will be located on a vacant site in Virginia Beach within an Opportunity Zone owned by the university. The property will offer one-, two- and three-bedroom floor plans ranging from 833 to 1,395 square feet. The asset is expected to be complete in 2020. Communal amenities will include a rooftop sky park, two-story clubhouse and a swimming pool. The housing community will be open to the public and is envisioned as a place for VWU students, faculty and staff.

June 25, 2019

Acquisitions Arizona Multifamily Student Housing Western

Nelson Partners Acquires 128-Bed Student Housing Community Near the University of Arizona

by Amy Works June 24, 2019

TUCSON, ARIZ. — Nelson Partners has acquired Wildcat Canyon Village, a 128-bed student housing community located two blocks from the University of Arizona campus in Tucson, for an undisclosed price. The name of the seller was not released. The value-add property offers one- and two-bedroom units with shared amenities including a swimming pool with a sun deck, clubhouse, basketball court, coffee bar, study lounge and game room. The community is set to undergo interior and exterior renovations, to include the installation of hot tubs and the addition of new countertops, lighting, appliances and fixtures to unit interiors.

June 24, 2019

Acquisitions Multifamily New York Northeast Student Housing

Vesper Acquires 290-Bed Student Housing Community in Upstate New York

by Taylor Williams June 21, 2019

BINGHAMTON, N.Y. — Vesper Holdings has acquired 20 Hawley, a 290-bed student housing community located near Binghamton University in Upstate New York. The community offers a mix of one-, two-, three-, four-, five- and six-bedroom units with bed-to-bath parity. Shared amenities include a fitness center, yoga studio, golf simulator, game room, movie theater, study lounges, a business center, hot tub and an outdoor lounge with grilling stations. New York City-based Vesper plans to undertake $1.8 million worth of renovations at the property, including upgrades to unit interiors and shared amenity spaces; extensive enhancements to the property’s exteriors; and substantial technology upgrades throughout the complex.

June 21, 2019

Development Multifamily Northeast Rhode Island Student Housing

GMH, Wexford Open 270-Bed Student Housing Property in Providence

by Taylor Williams June 20, 2019

PROVIDENCE, R.I. — A partnership between GMH Capital Partners LP and Wexford Science & Technology LLC has opened River House, a 270-bed student housing community in downtown Providence. The property’s 174 units come fully furnished and will serve students attending Brown University, the University of Rhode Island and the Rhode Island School of Design, among others. Communal amenities include a 24-hour fitness center, rooftop lounge with outdoor grilling stations and a kitchen bar, a business center, private study rooms and a cyber café with a complimentary coffee bar. Leasing began in February.

June 20, 2019

Acquisitions Colorado Multifamily Student Housing Western

Pinnacle Real Estate Arranges $1.9M Sale of Bear’s Den Apartments Near University of Northern Colorado

by Amy Works June 19, 2019

GREELEY, COLO. — Pinnacle Real Estate Advisors has arranged the $1.9 million sale of Bear’s Den Apartments, a multifamily property located adjacent to the University of Northern Colorado campus in Greeley. The community consists of 16 units in four buildings. Scott Fetter and Joe Hornstein of Pinnacle brokered the transaction. The buyer acquired the property through a 1031 exchange. The seller was not disclosed.

June 19, 2019

Acquisitions Multifamily Nevada Student Housing Texas Top Stories Western

Preiss, BCEG International Acquire Two Student Housing Communities Totaling 1,104 Beds in San Antonio, Las Vegas

by Kristin Harlow June 19, 2019

SAN ANTONIO AND LAS VEGAS — The Preiss Co. (TPCO), in a joint venture partnership with BCEG International Investment US (BCEGI), has acquired the 624-bed High View Place Student Apartments in San Antonio and the 480-bed Rebel Place in Las Vegas. Neither the sellers nor purchase prices were disclosed. Located at 15949 Chase Hill Blvd. and serving the University of Texas at San Antonio student population, High View Place offers a variety of one-, two- and four-bedroom floor plans. Each of the 204 units includes a kitchen, balcony, in-unit washer and dryer, 50-inch TV, complimentary high-speed internet and cable, and walk-in closets. Amenities include study spaces, a clubhouse, computer lab, swimming pool, gaming center, sand volleyball court and grilling area. TPCO is overseeing a multi-million refurbishment of the property, which marks the company’s third acquisition in the San Antonio market in the last 12 months. Plans call for electronic key-fob installation and upgrades to the interior flooring, amenities and internet service. Rebel Place is located at 3896 Swenson St. near the University of Nevada, Las Vegas. Each fully furnished apartment includes energy-efficient appliances, cable television packages, internet and in-unit washer and dryers. Community amenities include a fitness center, picnic area, …

June 19, 2019

Development Florida Multifamily Southeast Student Housing

Haven Campus Communities to Break Ground on 702-Bed Student Housing Community Near Florida State University

by Alex Tostado June 13, 2019

TALLAHASSEE, FLA. — Haven Campus Communities is set to break ground on Haven17, a 702-bed student housing community located near Florida State University in Tallahassee. The development, set to open in fall 2021, will be located within walking distance of the university’s main campus and athletic facilities. The property will offer fully furnished two- and four-bedroom units with bed-to-bath parity. Community amenities will include smart thermostats, smart ceiling fans and an Amazon Echo in each unit; a cyber lounge with charging stations; a coffee bar; fitness center; yoga studio; tanning room; sauna; gaming area; private study areas; a computer center; package lockers; a smart market; a swimming pool with a sundeck featuring built-in grilling stations, a putting green, hammock garden, cornhole and ping pong; and fire pits.

June 13, 2019

California Development Multifamily Student Housing Western

P3 Breaks Ground on 1,100-Bed Hornet Commons Student Housing at California State University, Sacramento

by Amy Works June 13, 2019

SACRAMENTO, CALIF. — A public-private partnership between University Enterprises Inc. — California State University, Sacramento’s (CSUS) commercial services auxiliary — and Greystar has broken ground on Hornet Commons, a 365,000-square-foot residence complex. The 1,100-bed development will feature six four-story buildings. Shared amenities will include a swimming pool, café, fitness center and a community room. Delivery is slated for fall 2021 The development team includes Sundt Construction Inc. and architectural firm Steinberg Hart.

June 13, 2019

Georgia Healthcare Industrial Mixed-Use Multifamily Southeast Student Housing

Confluent, Harbor Retirement Break Ground on New Assisted Living Property in Stuart, Florida

by John Nelson May 30, 2019

STUART, FLA. — Confluent Senior Living and Harbor Retirement Associates (HRA) have broken ground on HarborChase of Stuart, a 128,000-square-foot assisted living and memory care facility located at 786 N.W. Federal Highway in Stuart. HarborChase of Stuart will offer 96 assisted living and 38 memory care apartments available in one- and two-bedroom units. Confluent Senior Living, a subsidiary of the Denver-based real estate investment and development firm Confluent Development, serves as the project owner. HRA will manage HarborChase of Stuart. The project is anticipated to open in summer 2020. Confluent Senior Living and HRA previously co-developed and opened their first Florida seniors housing community in Wildwood in 2018.

May 30, 2019

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