LUBBOCK, TEXAS — Walker & Dunlop has brokered the sale of Raiders Walk, a 276-bed student housing community located adjacent to the Texas Tech University campus in Lubbock. Developed in 1975, the community offers 196 units in one- and two-bedroom configurations. Shared amenities include two pools, a fitness center and a clubroom. Chris Epp, Craig Miller, Matthew Chase, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller, Capstone Real Estate Investments, in the transaction. The buyer was PTLA Real Estate Group.
Student Housing
Landmark-Led Group Acquires 40-Acre Site Near Appalachian State University, Plans Cottage-Style Student Housing Development
by John Nelson
BOONE, N.C. — A joint venture between Landmark Properties, HC2 Capital and Peninsula Investments has acquired a 40-acre development site near the Appalachian State University campus in Boone. The parcel will be home to a 625-bed student housing community dubbed The Retreat at Boone. The development will offer 148 cottage-style units in three- through five-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style pool and spa with cabanas and hammocks; a jumbotron; fire pit and grilling areas; a skate park; fitness center; golf simulator; recreational lawn games; and a computer lab. The development team for the project, which is scheduled for completion ahead of Appalachian State’s 2027-2028 academic year, includes Landmark Construction and Niles Bolton Associates. Trustmark Bank and First Financial Bank provided construction financing.
Affordable HousingCompany NewsDistrict of ColumbiaLeasing ActivityMultifamilySeniors HousingSoutheastStudent Housing
Justice Department, RealPage Settle Lawsuit Over Use of Revenue Management Software in Apartment Rental Pricing
by John Nelson
RICHARDSON, TEXAS AND WASHINGTON, D.C. — The U.S. Justice Department’s Antitrust Division has reached a settlement with RealPage Inc. as part of its ongoing enforcement against algorithmic coordination, information sharing and other anticompetitive practices in rental housing markets across the country, according to details disclosed in a North Carolina federal court on Monday. The proposed consent judgment, which still requires court approval before it can be implemented, would help restore free market competition in rental markets for millions of American renters, the Justice Department stated in a press release. “Competing companies must make independent pricing decisions, and with the rise of algorithmic and artificial intelligence tools, we will remain at the forefront of vigorous antitrust enforcement,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. Headquartered in Richardson, Texas, RealPage is a provider of revenue management software and services for the conventional multifamily rental housing industry. In a civil antitrust claim filed in North Carolina in August 2024, the Justice Department and the attorneys general of eight states alleged that RealPage’s revenue management software relied on nonpublic, competitively sensitive information shared by landlords to set rental prices. The plaintiffs also alleged that RealPage’s software included features designed …
Greystar-Led Joint Venture Breaks Ground on 605-Bed Student Housing Project Near San Diego State University
by Amy Works
SAN DIEGO — A joint venture between Greystar, Kanden Realty & Development America and Tokyo Tatemono has broken ground on Accolade Campanile, a 605-bed student housing development serving students attending San Diego State University. The development will rise six stories and offer 310 units at the southwest corner of Montezuma Road and Campanile Drive. Shared amenities are set to include a pool and spa; multiple outdoor kitchens and gathering spaces; fire pits; a fully equipped indoor/outdoor fitness center; multiple clubhouses; recreation and game lounges, including a speakeasy; indoor bicycle storage; a dog spa; and dedicated study spaces on each floor. The property will also feature ground-floor retail space. The community was designed by JWDA Architects. Construction financing was provided by Helaba Landesbank Hessen-Thüringen. The project is scheduled for completion in June 2028 with leasing set to begin in August 2027.
AMES, IOWA — Coastal Ridge has acquired two student housing properties serving Iowa State University in Ames. The acquisitions were part of a portfolio that also included a property in Louisiana totaling just under 1,600 beds with a gross asset value of approximately $90 million. The acquisitions mark the firm’s initial deployment of capital from the Coastal Ridge Value-Add Student Housing Fund LP, the company’s inaugural institutional commingled fund. The per-bed cost across the three assets was approximately $56,000. New construction can exceed $100,000 per bed, according to Coastal Ridge.
DALLAS — Lincoln Property Co., a Dallas-based global real estate services firm, has acquired Capstone Development Partners, a student housing developer with offices in Birmingham, Ala., and Denver. Lincoln’s acquisition includes Capstone’s management affiliate, Capstone Management Partners. Financial terms of the acquisition were not disclosed. Capstone will continue to operate as Capstone Development Partners, powered by Lincoln. The developer came in at No. 15 in the Top Developers ranking by Student Housing Business. Capstone disclosed in the first quarter that it had seven projects planned through 2028 totaling 5,900 beds. The acquisition expands Lincoln’s higher education infrastructure and enhances its development, financing and operation of on-campus and university-affiliated housing. “Capstone has long been a recognized leader in student housing and campus facilities development,” says Alison Daubert, chief strategy officer at Lincoln. “Their specialized expertise complements Lincoln’s national platform with robust resources, allowing us to better support higher education institutions with even greater experience and expertise.” Capstone says that the move gives the company access to Lincoln’s national resources and operational expertise. “With Lincoln’s support and comprehensive real estate capabilities, we are more capable than ever to assist universities in creating innovative, customized development and operational solutions that align seamlessly with their …
TSB Capital Advisors Arranges Refinancing for 531-Bed Student Housing Community Near Mississippi State University
by Abby Cox
STARKVILLE, MISS. — TSB Capital Advisors has arranged the refinancing for The Walk Starkville, a 531-bed student housing community located near the Mississippi State University campus in Starkville. TSB arranged the fixed-rate loan on behalf of Spaces Management. Terms of the financing were not released. Developed in 2023, The Walk Starkville offers 249 units in one-, two-, three-, four- and five-bedroom floorplans. Amenities include a resort-style swimming pool, fitness center and yoga studio, spa with a sauna and steam room, an entertainment courtyard with a TV and multiple lounge areas, as well as a clubhouse with a golf simulator, gaming lounge and private study areas.
COLUMBIA, MO. — Vesper Holdings has acquired The Den, a 522-bed student housing community located near the University of Missouri campus in Columbia. Vesper acquired the property in partnership with an undisclosed institutional investor. Built in 2014, the four-story community offers fully furnished units in two- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style pool, fitness center, clubhouse, game room, computer room, dog park, hammock garden, basketball courts, study rooms, fire pits and an outdoor kitchen and grilling area.
San Diego Community College District, Michaels Break Ground on 787-Bed Affordable Student Housing Community
by Amy Works
SAN DIEGO — A partnership between the San Diego Community College District (SDCCD) and The Michaels Organization has broken ground on a 787-bed student housing development at 1601 B St. in downtown San Diego. The seven-story community, designed by TCA Architects, will offer 283 affordably priced units. Shared amenities are set to include study lounges, tutoring spaces, a mental health and wellness center, outdoor courtyards, shared kitchens, a basic needs food pantry and a rooftop lounge. The community will be the first development by the SDCCD and is scheduled for completion in fall 2028.
Gilbane, CBRE Underway on 763-Bed Student Housing Development Near University of Central Florida
by John Nelson
ORLANDO, FLA. — Construction is underway on VIBE, a 763-bed student housing project by Gilbane Development and CBRE Investment Management located at 3765 Quadrangle Blvd. near the University of Central Florida campus in Orlando. The partnership recently opened a temporary leasing office for the community at 12226 Corporate Blvd. The development is scheduled for completion in fall 2026. VIBE will offer 275 fully furnished units in one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Each floor will offer private rooms for individual study, remote classes or quiet reflection. Additional shared amenities are set to include two courtyards; a resort-style pool with cabanas and a sun deck; clubhouse with a communal fire pit; outdoor kitchen with grills; pickleball courts; a 24-hour fitness center; sauna; coworking lounge; and a coffee bar. The community will also offer 712 parking spaces, as well as secured bicycle storage.
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