Student Housing

313-College-Ave.-College-Station

COLLEGE STATION, TEXAS — A partnership between LV Collective and Culpepper Realty has unveiled plans for a 952-bed student housing project that will serve students at Texas A&M University in College Station. The site at 313 College Ave. is located directly across from campus within the Legacy Point master-planned development. The community will feature 316 units in studio, one-, two-, three-, four-, five- and six-bedroom configurations, as well as 6,335 square feet of retail space. Amenities will include a pool, coffee bar, private and communal study rooms, fitness center, rooftop lounge and a courtyard. Project partners include Andres Construction, Oz Architecture, Variant Collaborative (interior design), Ironwood Design Group (landscape architecture), Kimley-Horn and VSM2 Structural Engineers. Completion is slated for fall 2027.

FacebookTwitterLinkedinEmail

DEARBORN, MICH. — District Capital has secured a $25.1 million first mortgage loan for a 622-bed student housing community at the University of Michigan – Dearborn. Mike Lemon of District Capital arranged the nonrecourse loan through a bank. The loan features a five-year term, fixed interest rate, one year of interest-only payments and a 30-year amortization.

FacebookTwitterLinkedinEmail
Morado-on-Berry-Fort-Worth

FORT WORTH, TEXAS — A partnership between Texas Christian University (TCU) and Austin-based Endeavor Real Estate Group has broken ground on Morado on Berry, a mixed-use development on the university’s campus in Fort Worth. The development will include two student housing communities with apartments for upper-level students at 2900 W. Berry St. and 3024 Cockrell Ave. on the southern edge of TCU’s campus. The properties will also feature 25,000 square feet of ground-floor retail space upon completion, which is expected ahead of the 2027-2028 academic year. The communities’ 780 beds will be offered in studio, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities are set to include a fitness center and Pilates studio; rooftop pool and deck with a Jumbotron and adjacent social lounge with billiards; group and private study rooms; an outdoor living room with cooking facilities; and a large courtyard. The development team for the project includes a real estate fund advised by Crow Holdings Capital, Robert A.M. Stern Architects, Lake|Flato, The Beck Group, JLL, OHT Partners and Kimley-Horn. American Campus Communities has been tapped to provide marketing, leasing and property management services for Morado on Berry.

FacebookTwitterLinkedinEmail
State-Industry

By Katie Sloan AUSTIN, TEXAS — The ‘State of the Industry’ panel at the 17th annual InterFace Student Housing conference held more of a trepidatious tone than heard in recent years. While pre-leasing levels and rental rates are still above historical norms, the industry is seeing a slight deceleration in pre-leasing speed and rate growth, leading some to question what the industry has in store for the year ahead. The discussion — held on April 10 in Austin, Texas — was moderated by Alex O’Brien, CEO with Cardinal Group.  The best way to characterize the industry this year is hesitant according to Ryan Lang, executive vice chairman with Newmark, who believes investor reluctance is largely due to pre-leasing numbers falling a couple of points behind levels seen at this time last year. Still, levels are trending far ahead of pre-leasing levels seen in 2019, lending to confidence overall in the sector.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. “The past two years were unprecedented from a leasing perspective with properties leasing up the fastest and with the highest rents growths …

FacebookTwitterLinkedinEmail

WEST LAFAYETTE, IND. — LV Collective has broken ground on Rambler Riverfront, a two-building student housing development near Purdue University in West Lafayette. The luxury project at 224 E. State St. is slated for completion in fall 2027. Plans for the 799,289-square-foot development include 583 units as well as retail space.

FacebookTwitterLinkedinEmail
Cottage-Row-Stillwater

STILLWATER, OKLA. — A joint venture between Monument Square Investment Group and affiliates of Walton Street Capital has acquired Cottage Row Stillwater, a 792-bed student housing community located near the Oklahoma State University campus in Stillwater. Developed in 2013, the property offers 231 cottage-style units and townhomes in two-, three-, four- and five-bedroom configurations. Shared amenities include a recently renovated, 11,000-square-foot clubhouse with study rooms, entertainment spaces and a fitness center; resort-style pool and hot tub; grilling stations; green space; full-sized basketball and sand volleyball courts; and a putting green. The joint venture plans to implement several capital improvements at the property, including new exterior paint and enhancements to the pool deck. The seller and additional terms of the transaction were not released.

FacebookTwitterLinkedinEmail

TAMPA, FLA. — JLL Capital Markets has secured refinancings totaling a combined $134.9 million for three student housing communities across the Southeast. Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 fully furnished units in two-, three-, four- and six-bedroom configurations. Shared amenities include a rooftop pool, fitness center, study lounges and secured garage parking.  Weaver and Quinn, along with Kenny Cutler, Rob Rothaug and Cristian Sieman of JLL, also secured a $22 million refinancing for Preserve at Tech near Louisiana Tech University in Ruston, La. Prime Finance provided the two-year, floating-rate loan to borrower RISE: A Real Estate Co. Completed in 2021 at 1913 West Alabama Ave., the community offers 588 beds across 168 units in three- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour clubhouse, computer lab, fitness center and a gaming lounge.  JLL also worked on …

FacebookTwitterLinkedinEmail
Landmark-LA-CA

LOS ANGELES — Landmark Properties has partnered with Stockbridge to purchase two student housing properties near the University of Southern California (USC) in Los Angeles. TSB Realty brokered the sale, while TSB Capital Advisors arranged financing for the transaction. Terms of the transaction were not released. The purchase of Icon Plaza and West 27th Place marks the partnership’s third transaction. Both assets are adjacent to campus and within walking distance to USC’s main academic and recreational buildings. Landmark plans to renovate common areas and amenities at Icon Plaza as part of the acquisition business plan. West 27th was recently renovated, so no major renovations are planned. Located at 3584 S. Figueroa St., Icon Plaza is a 57-unit, 252-bed mid-rise community that was built in 2012. The property offers fully furnished floor plans ranging from two- to five-bedroom units with quartz countertops, stainless steel appliances, in-unit laundry and balconies. Community amenities include a resort-style swimming pool, rooftop lounge, clubhouse, fitness center and study rooms. Additionally, Icon Plaza has 6,200 square feet of ground-floor retail space that is occupied by Starbucks Coffee, Jersey Mike’s Subs, Movita, Juice Bar and Wingstop. Located at 530 W. 27th St., West 27th offers 161 units and 452 …

FacebookTwitterLinkedinEmail
Power-Panel

By Katie Sloan AUSTIN, TEXAS — The 17th annual InterFace Student Housing conference, held April 9-11 at the JW Marriott in Austin, Texas, saw more than 1,500 student housing industry executives gather for educational sessions and networking. The conference’s first full day kicked off on April 10 with the ‘Power Panel,’ which brought together a group of high-level executives from several of the top companies in the sector to discuss their outlook for the year ahead.  Moderator Peter Katz, executive managing director with Institutional Property Advisors, began the discussion by highlighting a few growing concerns in the current economic environment. Chief among them were the potential impact of global tariffs on equity and development in student housing and the possibility of an economic slowdown or even an impending recession.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Still, the student housing sector has proven time and time again that it is a resilient asset class. “If we look back at the global financial crisis and COVID-19 pandemic, we’ve witnessed that the student housing sector is pandemic- and recession-resistant,” said Katz.  “Institutional …

FacebookTwitterLinkedinEmail

CHARLOTTESVILLE, VA. — A joint venture between Subtext and Kayne Anderson Real Estate has broken ground on VERVE Charlottesville, a 1,332-bed student housing project located adjacent to the University of Virginia campus at 100 Stadium Road in Charlottesville. The 12-story community will span 729,262 square feet and offer 463 units in studio, one-, two-, three- and four-bedroom floorplans. Amenities will include a fireside lobby lounge, coffee café, two-story fitness and wellness center, multi-sport gaming lounge, F1 driving simulator, pool terrace, dog spa and pet park, makerspace, an outdoor fitness lawn and dedicated library and study spaces. The joint venture will also contribute $6.8 million to the Charlottesville Affordable Housing Fund as part of its development agreement with the City of Charlottesville. The development team for the project includes John Moriarty & Associates, Sumitomo Mitsui Banking Corp., ESG Architecture & Design, Wolf Ackerman Design, AJC Design Group, SK&A and Timmons Group. VERVE Charlottesville is slated for completion in summer 2027.

FacebookTwitterLinkedinEmail