COLLEGE STATION, TEXAS — A joint venture between LV Collective and Peninsula Investments has broken ground on Rambler Northgate, a 922-bed student housing project located near Texas A&M University in College Station. The building will rise 24 stories and offer 342 units in one-, two, three-, four-, five- and six-bedroom configurations with bed-to-bath parity. Shared amenities will include a pool with multiple hot tubs; coworking space with private study rooms; a fitness center with a yoga studio, sauna and cold plunge; and a multi-sport simulator and jumbotron. UMB is providing construction financing for the project. The development team includes Oz Architecture, JE Dunn, Variant Collaborative and Site Design Group. Completion is slated for 2028.
Student Housing
TSB Realty Arranges Sale of 398-Bed Student Housing Community Near University of Kentucky
by John Nelson
LEXINGTON, KY. — TSB Realty has arranged the sale of Campus Court, a 398-bed student housing property located near the University of Kentucky campus in Lexington. Coastal Ridge Real Estate purchased the community from an undisclosed seller. Terms of the transaction were not released. Originally constructed in 1988, Campus Court was updated in 2008 and offers 238 units in a mix of one-, two- and three-bedroom configurations. Amenities include a resort-style pool, fitness center, basketball court, dog park, tanning beds, private study rooms, a barbecue and picnic area and a TV lounge and game room. The community was 99 percent leased at the time of sale.
MANSFIELD, CONN. — Locally based brokerage firm Chozick Realty has arranged the $3 million sale of Eagle Court Apartments, a 40-bed student housing building in Mansfield that serves students at the University of Connecticut. Each unit at Eagle Court, which has maintained full occupancy over the past decade, has four bedrooms and comes fully furnished. Tom Boyle of Chozick Realty represented the undisclosed seller in the transaction. The buyer was also not disclosed.
Walker & Dunlop Provides $53.7M Agency Refinancing for Student Housing Community in Daytona Beach
by John Nelson
DAYTONA BEACH, FLA. — Walker & Dunlop has provided a $53.7 million Freddie Mac loan for the refinancing of OnShore, a 636-bed student housing community located near Embry-Riddle Aeronautical University in Daytona Beach. Delivered in 2020, the community offers 210 units alongside shared amenities including a fitness center, study areas, an infinity pool and a flight simulator. Will Baker, Mike Shropshire, William Shell and Doug McDaniel of Walker & Dunlop originated the seven-year, floating-rate loan with a four-year interest-only period on behalf of the borrower, a partnership between L3 Campus and Aureon Partners. Austin Kinn of TSB Capital Advisors also consulted on the transaction on behalf of the borrower.
WACO, TEXAS — Tailwind Group has acquired The Outpost Waco, a 543-bed student housing community located near the Baylor University campus, with plans to commence renovations in June. Capital improvements will include a redesigned clubhouse with a modern lounge and gaming areas, dedicated study zones and private conference rooms; the addition of a new 24-hour market; improved technology throughout the community; and a complete refresh of the property’s fitness center with increased space, new equipment and a spa-style sauna. The community’s exterior is also set to undergo upgrades, including renewed pool areas with new furniture and grills, revitalized outdoor recreational facilities, updated landscaping and improvements to the building’s exteriors. Renovations are scheduled for completion by this November. The seller and terms of the transaction were not released.
SAN MARCOS, TEXAS — Elevate Development Partners has received $116 million in acquisition and construction financing for the development of a 759-bed student housing community near Texas State University in San Marcos. The 260-unit project is being developed in partnership with Flintco. S3 Capital provided financing for the development, which will span 280,124 square feet. Shared amenities are set to include a social lounge, bicycle room, package room, resort-style pool, yoga and wellness room, fitness center, study lounges and conference rooms. Preiss has been tapped to manage the community upon completion. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing on behalf of the developer.
Campus Apartments Acquires 546-Bed Student Housing Community Near Georgia Southern University
by John Nelson
STATESBORO, GA. — Campus Apartments has acquired Monarch 301, a 546-bed student housing community located near the Georgia Southern University campus. Located along Main Street in Statesboro, the garden-style property offers 180 units in a mix of one-, two- and four-bedroom configurations. Shared amenities include a 24-hour fitness center, resort-style pool, study spaces and resident lounges. The seller and terms of the transaction were not released. The new ownership plans to upgrade the property’s high-speed internet imminently through a partnership with Campus Technologies Inc.
AUSTIN, TEXAS — A public-private partnership between South Carolina-based Greystar and the University of Texas at Austin has broken ground on Law School Village, a 340-bed student housing project for enrollees at the university’s law school. The 14-story building will offer 280 units in studio, one- and two-bedroom configurations. Shared amenities are set to include a library-style sky lounge, café, fitness and yoga area, courtyard, two rooftop decks and retail space. Lemmo Architecture & Design and Meeks + Partners designed the project, which is expected to be complete in advance of the 2028-2029 academic year.
Western Kentucky University Board Approves Gilbane’s $350M Student Campus Housing Development Plan
by Abby Cox
BOWLING GREEN, KY. — The Western Kentucky University (WKU) Board of Regents has approved the “Elevate WKU” development plan with Gilbane Development Co., a global real estate development firm, to launch the first phase of a multi-year student housing initiative on the WKU campus in Bowling Green. The Kentucky Capital Projects and Bond Oversight Committee also approved the partnership this week. The $350 million initiative is the largest residential investment in WKU’s history, according to Gilbane. Phase I of the development will replace Hugh Poland and Douglas Keen Halls with a new roughly 1,000-bed residential complex featuring suite-style options, community kitchens, collaborative lounges, expanded community spaces, tech-enabled learning environments and enhanced safety and accessibility features. The facility is expected to open in fall 2028. Gilbane is developing the Elevate WKU master plan in a public-private partnership with the university under a 50-year ground lease model. Under the structure, WKU will enter into a ground lease with the Collegiate Housing Foundation (CHF) — a national 501(c)(3) organization — which will serve as owner and borrower. Gilbane and WKU have selected Inwood Management to oversee the day-to-day operations and physical maintenance of the Elevate WKU portfolio alongside the university’s Residence Life team. Future phases will address renovations of existing …
BLOOMINGTON, IND. — Knighthead Funding has provided a $39.75 million first mortgage loan to refinance Stadium Crossing, a 226-unit, 734-bed student housing property in Bloomington located directly across from Indiana University Memorial Stadium. The borrower, Varsity Properties, has owned and operated the community for many years. Stadium Crossing was built in the 1980s.
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