REBusinessOnline

Aspen Heights Breaks Ground on 188-Unit Student Housing Community in Charlotte

CHARLOTTE, N.C. — Aspen Heights Partners has broken ground on Aspen Heights University City, a 188-unit student housing community located at 300 Heritage Lake Drive near the University of North Carolina at Charlotte campus. The property will offer two-, three-, four- and five-bedroom units, two-thirds of which will feature a cottage-style design. Communal amenities will include a pool, grilling areas, basketball court, sand volleyball court, fitness center, study lounges and an onsite …

Newmark Brokers Sale of 1,842-Bed Northpoint Crossing Student Housing Community in College Station

COLLEGE STATION, TEXAS — Newmark has brokered the sale of Northpoint Crossing, a 1,842-bed student housing community serving Texas A&M University in College Station. The 627-unit property was developed in 2014 and 2015 and is located across the street from the north corner of campus. Units feature studio, one-, two-, three- and four-bed floor plans. Amenities include two fitness centers, two computer labs, a 24-hour clubhouse, game rooms, outdoor grilling stations, sauna and steam rooms …

Preiss, JV Partner Acquire 600-Bed Student Housing Community Near Auburn University

AUBURN, ALA. — A joint venture between The Preiss Co. and a private equity real estate fund advised by Crow Holdings Capital has acquired a 600-bed, cottage-style student housing community from Aspen Heights, a student housing developer based in Austin, Texas. The sales price was not disclosed. The community — rebranded The Collective at Auburn — serves students attending Auburn University in Alabama. Capital improvements are planned for the property, including a complete redesign of its …

ACC, University of Southern California Complete Second Phase of Student Housing Development in Los Angeles

LOS ANGELES — A public-private partnership between American Campus Communities and the University of Southern California (USC) has completed a second phase of a student housing development. The residence hall is located at 1630 San Pablo St. near the university’s Curry Hall and the LAC+USC Medical Center.Shared amenities at the property include outdoor and indoor study areas, retail space and a rooftop courtyard.“We were able to commit 35 percent of the overall area to open …

Rittenhouse Arranges Sale of 272-Bed Student Housing Portfolio in Philadelphia

PHILADELPHIA — Rittenhouse Realty Advisors has arranged the sale of a 272-bed student housing portfolio in Philadelphia. The portfolio consists of five buildings totaling 106 units that serve the University of Pennsylvania, Drexel University and Temple University. The portfolio features a mix of newly constructed buildings and value-add assets. The buyer and seller were not

Vesper Holdings Purchases 543-Bed Student Housing Community Near Kennesaw State University

KENNESAW, GA. — Vesper Holdings has purchased The Indy, a 543-bed student housing community near Kennesaw State University (KSU). Delivered earlier this year, the property offers one- to five-bedroom floor plans with bed-to-bath parity. Unit interiors feature granite countertops, stainless steel appliances, washers and dryers and 55-inch smart TVs. Communal amenities include a fitness center, rooftop lounges, clubhouse and a pool. The community is situated on 4.2 acres at 3011 Hidden Forest …

The Opus Group, McKinney Fund Deliver 520-Bed Student Housing Community Near UAB

BIRMINGHAM, ALA. — The Opus Group and The McKinney Fund have delivered Ascend Five Points South, a 520-bed student housing community near the University of Alabama at Birmingham (UAB). The property offers studio to four-bedroom floor plans with rents starting at $739 per month. Communal amenities include a pool, fitness center, study rooms and a spa. The asset is situated at 1001 20th St. S., adjacent to the UAB campus. The design team for Ascend Five Points South included Rabren General …

Balboa, Opus Begin Construction on 428-Bed Student Housing Community in Richmond

RICHMOND, VA. — A joint venture between Balboa Real Estate Partners and The Opus Group has broken ground on Ascend Richmond. The 428-bed student housing community will be located near the Virginia Commonwealth University campus. The project will offer a mix of studio, one-, two-, three- and four-bedroom units. Communal amenities will include an outdoor terrace, pool, a fitness center and lounge areas. Rabren General Contractors is the general contractor for the project. A timeline for …

How COVID-19 Will Alter the Evolution of Student Housing

By Justin Wybenga, GMH Capital Partners The economic impact of the COVID-19 pandemic continues to unfold globally, shifting the way we conduct business and go about our day-to-day lives. Across all sectors of commercial real estate, we’ve seen a lot of change, from sanitation measures to limited in-person interactions and occupancy. The most important lesson from 2020 is the need to be resilient and adapt as the landscape evolves. That’s exactly what we’re seeing in student housing, …

Newmark Arranges Sale of 649-Bed Student Housing Community Near University of Kentucky

LEXINGTON, KY. — Newmark has arranged the sale of The Lex, a 649-bed student housing community near the University of Kentucky in Lexington. The property is the closest student housing community to Rupp Arena, the home court of the university’s men’s basketball team. Communal amenities at The Lex include a business center, game room, 24-hour fitness center, pool and grilling areas. The property offers studio to four-bedroom floor plans. Debbie Corson, Ryan Lang and Jack Brett of Newmark …

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