Student Housing

Fields Holdings Receives $64M Construction Loan for Student Housing Tower Near University of Washington

by Amy Works October 17, 2018

SEATTLE — Quantum Capital Partners has secured $64 million in construction financing for The M, a 24-story student housing development located near the University of Washington in Seattle. The property — developed by Los Angeles-based Fields Holdings — will offer studio, one-, two-, three- and four-bedroom units alongside 4,350 square feet of ground-floor retail and one level of subterranean parking. Shared amenities will include study rooms, a recreational lounge, fitness center, theater, indoor basketball court, roof-top deck, bicycle parking and a door man. A timeline for development has yet to be announced.

October 17, 2018

Acquisitions Multifamily Student Housing Texas

CBRE Brokers Sale of 1,005-Bed Student Housing Community Near Texas Tech University in Lubbock

by Taylor Williams October 17, 2018

LUBBOCK, TEXAS — CBRE has brokered the sale of Wildwood of Lubbock, a 1,005-bed student housing community serving Texas Tech University in Lubbock. Built in 2017, the 294-unit property is located less than two miles from campus and features a pool, fitness center, a study center and community green space. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE represented the developer and seller, Georgia-based Dovetail Development, in the transaction. The buyer was a private real estate fund advised by Dallas-based Crow Holdings Capital-Real Estate. The sales price was not disclosed.

October 17, 2018

Acquisitions Mississippi Multifamily Southeast Student Housing

Vesper Acquires 792-Bed Student Housing Community Near University of Southern Mississippi

by Amy Works October 16, 2018

HATTIESBURG, MISS. — Vesper Holdings has acquired Vie at Hattiesburg, a 792-bed student housing community located near the University of Southern Mississippi campus in Hattiesburg. The property offers two- and four-bedroom units with bed-to-bath parity. Shared amenities include a clubhouse, swimming pool and poolside lounge with a TV, 24-hour fitness center, business center, computer lab, sand volleyball court and a private shuttle to campus. The community’s previous owner, whose name was undisclosed, recently completed a $2 million renovation that included upgrades to flooring, appliances, furniture, clubhouse and the fitness center. Vesper is planning to invest an additional $600,000 to further upgrade the amenities, enhance the property’s exteriors and make substantial technology upgrades throughout the complex.

October 16, 2018

Loans Multifamily Southeast Student Housing Tennessee

NorthMarq Arranges $12.7M Acquisition Loan for Student Housing Community Near Austin Peay in Tennessee

by Amy Works October 15, 2018

CLARKSVILLE, TENN. — NorthMarq Capital has arranged $12.7 million in acquisition financing for University Landing, a 385-bed student housing community located two blocks from Austin Peay State University in downtown Clarksville, about 50 miles north of Nashville. Lee Weaver of NorthMarq secured the permanent, Fannie Mae financing for the undisclosed borrower. The fixed-rate loan was structured with a 12-year term on a 30-year amortization schedule. The community features studio, one-, two-, three- and four-bedroom layouts that come fully furnished and include in-unit washers and dryers. Community amenities include a resort-style swimming pool with a sundeck, outdoor grilling area, renovated clubhouse, 24-hour fitness center with a yoga studio and studio spin bikes, TV lounge, game room, coffee bar, cyber cafe and study spaces in each building.

October 15, 2018

Development Multifamily North Carolina Southeast Student Housing

Preiss Opens 425-Bed Student Housing Community Near East Carolina University

by Amy Works October 10, 2018

GREENVILLE, N.C. — The Preiss Co. has opened The Eastern on 10th, a 425-bed student housing community located near East Carolina University (ECU) at 2301 E. 10th St. in downtown Greenville. The ground-up, garden-style development offers studio, one-, two- and three-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, an outdoor lounge with cabanas, grilling and picnic stations, a 24-hour clubhouse and fitness center, private study rooms, a cybercafé, self-serve coffee bar and a 438-space parking lot. Preiss Co. will manage The Eastern on 10th, bringing the company’s management portfolio to 3,342 beds in the ECU market alone.

October 10, 2018

Loans Multifamily North Carolina Southeast Student Housing

Trez Forman Provides $4.8M Financing for Planned 390-Unit Multifamily Community in Charlotte

by Amy Works October 9, 2018

CHARLOTTE, N.C. — Trez Forman Capital Group has provided $4.8 million in financing for a 390-unit, mixed-use community planned for development near the University of North Carolina at Charlotte campus. The borrower and developer of the planned multifamily property, Sanctuary Holdings NC, will use the loan proceeds to pay off existing debt on the property and to help fund the purchase of an additional 1.5 acres from Charlotte’s transportation department. The site — located at 7600 University City Blvd. — has already been approved for 390 multifamily or student housing units.

October 9, 2018

California Development Multifamily Student Housing Western

Servitas, Orange Coast College to Build 814-Bed Student Residence Hall

by Amy Works October 4, 2018

COSTA MESA, CALIF. — Servitas and Orange Coast College (OCC) are set to break ground on an 814-bed residence hall at the college’s campus in Costa Mesa. The project site is structured around a ground lease on campus land by a public-private partnership with National Campus and Community Development Corp. This structure allows for tax-exempt debt financing with no recourse to the college, district or taxpayers. The apartment-style community is set to open in August 2020. “We are very pleased with this partnership between Servitas and OCC,” says Angel Rivera, vice president of real estate development at Servitas. “It offers students a cost-efficient and convenient housing community that integrates seamlessly with the campus.” The design-build team includes HPI Architecture, MVE Architects and construction firm Moss. George K. Baum & Co. provided the bond underwriting, and The Scion Group will manage the project in close collaboration with the college.

October 4, 2018

Prado-University-of-Texas-at-San-Antonio

Acquisitions Multifamily Student Housing Texas

Arrimus Capital Acquires 472-Bed Student Housing Property in San Antonio

by Taylor Williams October 3, 2018

SAN ANTONIO — California-based investment and development firm Arrimus Capital has acquired Prado, a 472-bed student housing property located adjacent to the University of Texas at San Antonio in the Alamo City. The 160-unit property features amenities such as a pool, clubhouse with media area, game room, kitchen and study areas, 24-hour fitness center and a business center with study rooms. The property also includes two onsite restaurants, a coffee house and a barbershop. The seller was Dallas-based Fountain Residential.

October 3, 2018

Acquisitions Illinois Midwest Multifamily Student Housing

Arrimus Capital Purchases 428-Bed Student Housing Property Near University of Illinois

by Kristin Harlow October 2, 2018

CHAMPAIGN-URBANA, ILL. — Arrimus Capital has purchased 212 East, a 428-bed student housing property near the University of Illinois in Champaign-Urbana. XFD Real Estate Partners sold the asset for an undisclosed price. The property is located along Green Street in the heart of the Campustown district. Property amenities include a fitness center, community lounge, outdoor courtyard and study rooms. HFF represented the seller in the transaction.

October 2, 2018

Development Florida Loans Multifamily Southeast Student Housing

Joint Venture Closes on $231M Bond Financing for Student Housing Project Near Florida International University

by Amy Works October 2, 2018

MIAMI — University Bridge GP — a partnership between Global City Development, RER Ventures and Podium Developments — has closed on a $231 million bond issuance for University Bridge Residences, an 886-unit student housing community currently under construction near Florida International University (FIU) in Miami. The joint venture is billing the project as Miami’s first student condos. The bond represents the largest financing of its kind for an off-campus student housing building in the U.S., according to a release by the joint venture. The funding will provide $50 million in scholarships over 40 years to Florida International University. As per the terms of the agreement, FIU will also take ownership of the building upon the completion of bond payments in 2058. The community is set to open in fall 2020 and will offer fully furnished units with bed-to-bath parity, as well as a pedestrian bridge to FIU’s campus. Shared amenities will include a resort-style pool, cabanas, barbecue and dining areas, a sun deck with day beds, fitness center, yoga lawn, lounge and game room and a business center. The property will also be home to 7,000 square feet of ground-floor retail. The project was designed by Arquitectonica and will be …

October 2, 2018

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