Student Housing

Rosemurgy, Giles Capital Receive $38.8M Financing for Two Student Housing Communities Near University of Florida

by Alex Tostado May 28, 2019

GAINESVILLE, FLA. — Park Partners Residential, a joint venture between Rosemurgy Properties and Giles Capital Group, has received $38.8 million in financing for two student housing communities near the University of Florida in Gainesville. Värde Partners has provided a $27.3 million loan for The Niche community and an $11.5 million loan for The Nook. Both properties recently underwent renovations and offer a combined total of 1,356 beds. Elliott Throne and Jesse Wright of HFF worked to place the financing on behalf of the borrower.

May 28, 2019

Development Massachusetts Multifamily Northeast Student Housing

Simmons University to Develop 1,100-Bed Student Housing Community in Boston

by Taylor Williams May 28, 2019

BOSTON — Simmons University has filed a 10-year plan with the city of Boston that outlines a series of campus upgrades, including the development of a 21-story, 1,100-bed residence hall on Avenue Louis Pasteur, according to reports by The Boston Globe. The newspaper notes that the school has been negotiating for at least a year with developers on a multi-phase plan that would include leasing its residential campus and funneling proceeds into the development of the new residential tower. The residence hall is still in the concept phase, according to the university, but plans are in motion to soon begin renovations to its main building and Lefavour Hall.

May 28, 2019

Development Multifamily Student Housing Texas

Park7 Group Breaks Ground on 701-Bed Student Housing Project in Arlington

by Taylor Williams May 22, 2019

ARLINGTON, TEXAS — New York City-based developer Park7 Group has broken ground on Park Place Arlington, a student housing project that will feature 701 beds for students attending the University of Texas at Arlington. The property, located one block from campus in downtown Arlington, will also house 9,000 square feet of ground-floor retail space. Park Place Arlington’s 298 units will offer designer wood cabinetry, stainless steel appliances and washers and dryers. All units also come equipped with a 50-inch flatscreen TV. Amenities will include an oversized pool, half-court basketball court, volleyball court, spa, movie theater, golf simulator, study courtyards, a two-story fitness center and a resident-only clubroom. Humphreys & Partners Architects designed the project, which is slated for completion in summer 2020.

May 22, 2019

Loans Multifamily Student Housing Texas

HFF Places Loan for Refinancing of 717-Bed Student Housing Property in Houston

by Taylor Williams May 21, 2019

HOUSTON — HFF has placed a loan for the refinancing of Aspen Houston, a 717-bed student housing property located at 4971 Martin Luther King Blvd in Houston. The amount of the loan was not disclosed, but the financing was arranged as part of a $92 million package to refinance a student housing portfolio totaling 1,653 beds in Iowa, Texas and South Carolina. Doug Opalka, Casey Wenzel and Michael Johnson of HFF arranged the funds on behalf of the ownership, which is partnership between Austin-based developer Aspen Heights and global investment firm Safanad.

May 21, 2019

Loans Multifamily New York Northeast Student Housing

Pebb Capital, TriArch Real Estate Receive $27.5M Loan for Student Housing Project in Manhattan

by Taylor Williams May 20, 2019

NEW YORK CITY— A partnership between Pebb Capital, a private equity firm with offices in Florida and New York, and TriArch Real Estate has received a $27.5 million permanent loan for the development of a 14-story student housing community in the Morningside Heights neighborhood of Manhattan. Construction began on the property in March 2018, with delivery set for fall 2020. The community will serve students at Columbia University. Valley Bank provided the initial construction loan and is now invested in the project to the tune of $41.7 million.

May 20, 2019

Acquisitions Louisiana Multifamily Southeast Student Housing

Alpha Capital Acquires 342-Bed Student Housing Community Near University of Louisiana at Lafayette

by Alex Tostado May 16, 2019

LAFAYETTE, LA. — Alpha Capital Partners has acquired University Place, a 342-bed student housing community located near the University of Louisiana at Lafayette. The acquisition is the second of five identified projects in the company’s Opportunity Zone Fund, which was launched last October in an effort to take part in the opportunity zone program implemented by the Tax Cuts and Jobs Act of 2017. University Place offers access to campus through a private pedestrian bridge, alongside shared amenities including a 24-hour fitness center, swimming pool and cyber café. The new ownership plans to invest capital to reposition the property, details of which have yet to be announced. The seller and terms of the transaction were not disclosed.

May 16, 2019

Acquisitions Kansas Midwest Multifamily Student Housing

Cushman & Wakefield Negotiates Sale of 888-Bed Student Housing Community Near University of Kansas

by Kristin Harlow May 9, 2019

LAWRENCE, KAN. — Cushman & Wakefield has negotiated the sale of The Connection at Lawrence, an 888-bed student housing community located near the University of Kansas campus in Lawrence. Travis Prince, Victoria Marks, Gib Kerr and Jeffrey Bentz of Cushman & Wakefield represented the unnamed seller in the transaction. University Partners acquired the property for an undisclosed price. The Connection at Lawrence was built in 2010 and features 14 three-story buildings offering one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a 24-hour fitness center, charcoal grills, lighted basketball and sand volleyball courts, a tanning bed, two resort-style swimming pools, a heated spa, game room, computer lounge, clubhouse, private study rooms, an outdoor fireplace and a private shuttle to campus.

May 9, 2019

Features Multifamily Student Housing

Designing and Developing Student Housing for Gen Z

by Katie Sloan May 8, 2019

Gen Z is one of the most fiscally responsible generations we’ve seen in a long time, prompting student housing companies to find creative ways of satisfying both cost and quality of life for students, especially within the off-campus luxury housing market. The following are important features to consider when designing and developing a student housing community geared towards this demographic: Innovated Tech Experiences One thing we know about Gen Z is that they are hyper-connected and have always lived on-demand. With an influx of luxury student housing options, student housing complexes need to find a way to differentiate themselves and the use of technology is a good place to start. Voice-activated integrations, including smart home devices, TVs and appliances, are easy wins for attracting Gen Z’s, who appreciate and expect the aid of technology in most aspects of their daily lives. Flexible Community Spaces Amenity-rich apartments that incorporate both community gathering spaces and wellness offerings are taking the housing industry by storm. Specifically, community gathering spaces with great Wi-Fi, comfortable, easy-to-reconfigure seating and a big screen TV. These spaces should be multi-purpose, from a studying lounge to a place to host dinner with friends, and they need to be flexible …

May 8, 2019

Loans Multifamily New York Northeast Student Housing

SunTrust Originates $13.3M Freddie Mac Acquisition Loan for Student Housing Asset in Ithaca, New York

by Taylor Williams May 7, 2019

ITHACA, N.Y. — SunTrust Banks Inc. has originated a $13.3 million acquisition loan for Gun Hill Residences, a 273-bed student housing property located adjacent to Cornell University in Ithaca, a city in upstate New York. The 94-unit property was close to full occupancy at the time of the loan closing. Yuchen Yang and Artin Anvar of SunTrust originated the loan, which featured a fixed interest rate, 10-year term and a 30-year amortization schedule. The borrower was New York-based DMG Investments LLC, a subsidiary of a Chinese development firm. The seller was not disclosed.

May 7, 2019

Loans Multifamily New York Northeast Student Housing

Marcus & Millichap Arranges $16M Loan for Refinancing of Student Housing Property in New Rochelle

by Taylor Williams May 6, 2019

NEW ROCHELLE, N.Y. — Marcus & Millichap Capital Corp. has arranged a $16 million loan for the refinancing of a 282-bed student housing property located at 17 Locust Ave. in New Rochelle, a northern suburb of New York City. The newly built, 94-unit property serves nearby Monroe College. Steven Rock of Marcus & Millichap arranged the loan that was originated at a 65 percent loan-to-value. The loan features a fixed interest rate of 4.98 percent as well as 18 months of interest-only payments. The borrower was not disclosed.

May 6, 2019

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