Student Housing

2715-Dwight-Way-Berkeley-CA

BERKELEY, CALIF. — Gantry has secured a $14 million permanent loan to refinance a near-term maturity for a student housing property located at 2715 Dwight Way in Berkeley. Situated within walking distance of the University of California Berkeley campus, the asset offers 109 beds in 29 units featuring two-, three- and four-bedroom furnished floor plans with modern kitchens, in-unit washers/dryers and hardwood flooring. Tom Dao, Alex Poulos and Toby Judge of Gantry represented the borrower, a private real estate investor. The five-year, fixed-rate, nonrecourse loan was secured from Amalgamated Bank with terms, including introductory interest-only payments transitioning to 30-year amortization, prepayment flexibility and extension options.

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LEXINGTON, KY. — Subtext is set to break ground on VERVE Lexington, a 784-bed student housing development located at 185 E. Maxwell St. near the University of Kentucky campus in Lexington. The community is being developed in partnership with Clarion Partners in a qualified opportunity zone and is scheduled for completion in summer 2028. VERVE Lexington will span 460,136 square feet and offer 275 units in one-, two-, three- and four-bedroom configurations. Shared amenities are set to include a ground floor coffee shop, dedicated study spaces, fitness and wellness spaces and a second-floor terrace with a pool and clubroom. The development team included Southern Building Group, KTGY, EA Partners and Pacific Life Insurance Co. 

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TALLAHASSEE, FLA. — A joint venture between Park7 Group and PGIM has broken ground on an 804-bed student housing development located near the Florida State University campus in Tallahassee. The nine-story community will offer 230 units alongside shared amenities including a rooftop pool and terrace, fitness center and collaborative study lounges. The project is scheduled for completion in fall 2028.

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840-Columbus-Ave.-Boston

BOSTON — A public-private partnership between American Campus Communities (ACC) and Northeastern University has broken ground on a 1,200-bed residence hall at 840 Columbus Ave. on the institution’s campus in Boston. The 23-story project will feature 11,000 square feet of publicly accessible community space, including a second-level outdoor deck and 4,000 square feet of ground-level retail space, as well as shared learning spaces and wellness amenities. Scheduled for completion in fall 2028, the project is being developed through ACC’s American Campus Equity program and is the largest on-campus equity development in the company’s history.

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OXFORD, MISS. — TSB Realty has brokered the sale of U Club Townhomes at Oxford, a 528-bed student housing community located near the University of Mississippi (Ole Miss) campus in Oxford. College Town Communities purchased the property from an undisclosed seller. The terms of the transaction were not disclosed. Delivered in 2018, the community offers three-bedroom units with front and back porches. Shared amenities include a resort-style pool and hot tub, sun deck, poolside lounge, Jumbotron, sand volleyball court, fitness center, recreation center, grilling stations, fire pits, two dog parks, group and private study lounges and a computer lab.

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LOUISVILLE, KY. — Vesper Holdings has acquired Yugo Louisville Nine, a 385-bed student housing community located near the University of Louisville campus. The property — now dubbed ‘The Nine’ — was developed in 2016 and offers units in two-, three, four- and five-bedroom configurations with bed-to-bath parity. Shared amenities at the six-story community include a 24-hour fitness center, study center, yoga and spin room, coffee bar, game room, resort-style pool, sun deck, fire pit, dog park and group study lounges. CBRE represented the undisclosed seller in the transaction. The sales price was also not disclosed. Aaron Moll of Berkadia arranged an undisclosed amount of acquisition financing on behalf of Vesper.

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Noble-2500-Austin

AUSTIN, TEXAS — A joint venture between Ascentris and Student Quarters has acquired Noble 2500, a 243-bed student housing community serving students at the University of Texas at Austin. Built in 2023, the property is located in Austin’s West Campus neighborhood and offers 118 fully furnished units in studio, one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include study lounges, a courtyard pool, fitness center, yoga studio and a rooftop sky lounge. The new ownership plans to enhance the property’s common areas and implement operational improvements to boost leasing performance. The seller and sales price were not disclosed.

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ATHENS, GA. — Landmark Properties, an Athens-based residential developer primarily known for its nationwide portfolio of student housing communities, has announced its expansion into the seniors housing sector. The firm plans to pursue both ground-up development and acquisition opportunities in the senior living space. “Seniors housing sits at an attractive inflection point, having made a meaningful recovery from a unique black swan event and now exhibiting a pronounced supply-demand imbalance,” says Walt Templin, president and chief investment officer of Landmark. “This dynamic creates a compelling entry point for Landmark to leverage its vertically integrated platform.” Landmark has appointed Shashank Goel to lead the company’s entry into seniors housing. Goel will serve as senior director of U.S. seniors housing investment management. Goel, who has more than 10 years of experience in seniors housing, most recently served as assistant vice president at Harrison Street.

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OXFORD, MISS. — A public-private partnership between the University of Mississippi (Ole Miss) and Charleston-based Greystar has broken ground on Kincannon Hall, a $101 million residence hall project located on the university’s campus in Oxford. The development — which is scheduled for completion ahead of the 2027-2028 academic year — will offer 1,282 beds in semi-suite configurations. The community is being constructed in partnership with Greystar’s modular construction arm, Modern Living Solutions. Sections of the buildings will be developed in Knox, Pa., and shipped to campus to be assembled onsite. The development team for the project includes WDG Architecture and CDFL. The development was financed through tax-exempt bonds, with Provident Resources Group serving as the borrower of the bonds and project owner. Raymond James acted as bond underwriter for the financing. The project includes a second phase of development, which is expected to deliver additional suite-style units in 2028. Further details on the project were not released.

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410-S-900-East-SLC-UT

SALT LAKE CITY — CRG and Utah-based Cole West have broken ground on Chapter Salt Lake City, a six-story student housing community at 410 S. 900 East in Salt Lake City. LJC, an integrated architecture and engineering firm of CRG, designed the community. Situated near the University of Utah, Chapter Salt Lake City will feature 251 studio, one-, two- and four-bedroom fully furnished units, totaling 693 beds. Shared amenities will include a fitness center with Pilates studio, a sauna, ski simulator, library and study spaces, a soda shop, rooftop lounge and rooftop pool and hot tub. Construction is underway, with delivery slated for summer 2028.

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