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Student Housing

AcquisitionsSouth CarolinaSoutheastStudent Housing

Harrison Street Sells 994-Bed Student Housing Community Near Clemson University

by John Nelson

CLEMSON, S.C. — Harrison Street has sold Epoch Clemson, a 994-bed student housing community located near the Clemson University campus in South Carolina. The property offers a mix of cottage, townhome and apartment units in one-, two-, three-, four- and six-bedroom configurations. Shared amenities include sand volleyball and basketball courts, an onsite cafe, group and private study areas, 24-hour fitness center, yoga room, dog park and a resort-style swimming pool. The community also features 3,600 feet of frontage along Lake Hartwell, with amenities including a private beach, boat docks and lakeside pedestrian paths. Walker & Dunlop represented Harrison Street in the sale of the property to an affiliate of Inland Real Estate Acquisitions. The sales price was not disclosed.

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GeorgiaLoansMixed-UseSoutheastStudent Housing

Landmark Properties Recapitalizes 1,364-Bed Student Housing Community Near University of Georgia

by John Nelson

ATHENS, GA. — Landmark Properties has recapitalized The Mark Athens, a 1,364-bed student housing property located at 130 Hickory St. near the University of Georgia campus. The property was developed in two phases, with the first phase completed in 2017 and the second phase completed in 2022. The community offers studio through six-bedroom apartments, alongside 67,000 square feet of retail space and 46,734 square feet of offices, with locally based Landmark occupying over 90 percent of the office space. The Mark also features 55,000 square feet of shared amenity space, including a rooftop pool and sundeck with views of the university’s campus, Sanford Stadium and downtown Athens; study spaces; a fitness center; golf simulator; racquetball court; and an indoor basketball court. Details of the refinancing were not disclosed.

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DevelopmentMississippiSoutheastStudent Housing

Mississippi State University Begins $80M Residence Hall Development

by John Nelson

STARKVILLE, MISS. — Mississippi State University has announced plans for an $80 million residence hall development on its campus in Starkville. The five-story project will span 155,000 square feet and offer 400 beds. The development is also set to include a dining hall, offices, a storm shelter and shared amenity spaces. The development team for the project includes Roy Anderson Corp. and Wier Boerner Allin Architecture. Construction is expected to begin in February with completion scheduled for spring 2025.

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AcquisitionsFloridaSoutheastStudent Housing

Harrison Street, Michaels Sell 551-Bed Student Housing Community Near University of West Florida

by John Nelson

PENSACOLA, FLA. — A joint venture between Harrison Street and The Michaels Organization has sold The Next, a 551-bed student housing community located near the University of West Florida campus in Pensacola. CBRE National Student Housing’s Jaclyn Fitts, William Vonderfecht and Casey Schaefer represented the seller, in partnership with CBRE Jacksonville Multifamily’s Ryan Hixon. WFI acquired the property for an undisclosed price. The Next offers fully furnished units with bed-to-bath parity. Shared amenities include a clubhouse, game room, computer center, tanning station, resort-style swimming pool, fitness center and study rooms on each floor.

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Standard-at-Boulder-Boulder-CO
ColoradoDevelopmentMultifamilyStudent HousingWestern

Landmark Properties Plans 936-Bed Student Housing Project Near the University of Colorado Boulder

by Amy Works

BOULDER, COLO. — Landmark Properties has acquired a 15-acre site at 1345 28th St. near the University of Colorado Boulder in Boulder. The firm plans to construct The Standard at Boulder, a 936-bed student housing community, on the site. The project caps off approximately $700 million in year-end transactions for Landmark in 2023. The 447,000-square-foot building will include 303 student apartments. Landmark expects to begin abatement and demolition of the vacant building on the site, former home to the Harvest House Hotel, early this year. Landmark Construction, the construction arm of Landmark Properties, will be the general contractor. Completion is slated for fall 2027. The four-story Standard at Boulder will offer a mix of floor plans, ranging from studios to four-bedroom units, some with private balconies. The community will include 29,000 square feet of amenities including multiple rooftop decks with views of the surrounding campus and the Flatirons; an outdoor pool and pool deck; a clubroom; several study lounges’ as well as; and parking for 348 vehicles with several electric vehicle charging stations. As part of the planned development, Landmark Properties will incorporate nearly six acres of active and passive green spaces fronting Boulder Creek and make improvements to the portion …

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AcquisitionsFloridaSoutheastStudent Housing

Cushman & Wakefield Brokers $35M Sale of Student Housing Community Near University of Florida

by John Nelson

GAINESVILLE, FLA. — Cushman & Wakefield has brokered the $35 million sale of The Pavilion on 62nd, a 312-unit student housing community located at 1000 S.W. 62nd Blvd. in Gainesville. A joint venture between Coastline Management Group and an entity doing business as RWW Gainesville LLC purchased the property from an undisclosed Delaware limited liability company. Mike Donaldson, Nick Meoli, Travis Prince and Victoria Marks Vagnier of Cushman & Wakefield represented the seller in the transaction. Situated about three miles from the University of Florida campus, The Pavilion on 62nd offers a unit mix consisting of mostly large four-bedroom floorplans. The property also includes two large clubhouses, two swimming pools, an indoor and outdoor basketball court, volleyball courts, movie theater, study lounge, separate cardio and weight training fitness rooms, a dog park and a computer lounge.

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Bixby-College
DevelopmentFeaturesStudent Housing

Demand for Student Housing Development Persists Despite Economic Headwinds

by Katie Sloan

It would be impossible to write a development or design article without mentioning the elephant in the room — the state of the capital markets and the current hurdles in securing financing of any sort, but especially for new development projects. While demand for new communities exists in many markets, getting projects to pencil out is the tricky part. For those developments that can move forward, innovative architecture and design are being employed to make the projects as functional and efficient as possible. Out are some of the flashier amenities from the days of yore, and in is design that helps student residents be the happiest and healthiest versions of themselves, both mentally and physically.  From the developer perspective, there is no question about the desire to build — especially in Power Five university markets. “Almost all of the Power Five universities have seen 7 percent to 10 percent rental rate increases over the past three years and are showing approximately 98 percent occupancy at most properties,” says Greg Faulkner, president of Humphreys & Partners Architects. “But math has to work with the rates, like equity requirements of 45 percent or higher. Hard costs have moderated, but some are still …

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The-Rive-Eugene-OR
AcquisitionsMultifamilyOregonStudent HousingWestern

Core Spaces, Harrison Street Acquire 686-Bed Student Housing Community Near University of Oregon

by Amy Works

EUGENE, ORE. — A joint venture between Core Spaces and Harrison Street has acquired Identity Eugene, a 686-bed student housing community located near the University of Oregon campus in Eugene. The property has been rebranded The Rive Eugene and offers 209 units in studio through five-bedroom configurations. Shared amenities at the community include a resort-style, rooftop swimming pool and hot tub; state-of-the-art fitness center; roof deck with fire pits and outdoor grilling space; and a clubroom with games and private workspaces. Accounts managed by KKR provided financing for the transaction. The seller and price were not disclosed. “The University of Oregon fits well within our strategy and The Rive Eugene checks all the boxes in terms of location, quality, amenities and leasing performance,” says Brendan Miller, chief investment officer of student housing at Core Spaces.

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Elara-Sawmill-Flagstaff-AZ
AcquisitionsArizonaMultifamilyStudent HousingWestern

TSB Realty Arranges Sale of 804-Bed Student Housing Community Near Northern Arizona University in Flagstaff

by Amy Works

FLAGSTAFF, ARIZ. — TSB Realty has arranged the sale of Elara at The Sawmill, an 804-bed student housing community located near the Northern Arizona University campus in Flagstaff. TSB represented the seller, a partnership between McGrath Real Estate Partners and Kayne Anderson Real Estate, in the disposition of the property to an undisclosed buyer. TSB Capital Advisors consulted on the buyer’s joint venture partnership and secured acquisition financing for the transaction. Built in 2022, the community offers studio through four-bedroom units. Shared amenities include a resort-style swimming pool, jumbotron, grilling pavilion, fitness center, private and group study lounges, a pet wash station and an outdoor bouldering rock. “We’re proud to get this deal over the finish line before the end of the year, especially in the current market environment,” says Timothy Bradley, a principal with TSB Realty and founder of TSB Capital Advisors. “As the newest purpose-built property in a very high-barrier-to-entry market, with a top-of-the-line amenities package, 99 percent occupancy and impressive rent growth, Elara is an excellent addition to the buyer’s portfolio.” 

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DevelopmentFloridaSoutheastStudent Housing

Treo Group Breaks Ground on 400-Bed Student Housing Community Near University of Miami

by John Nelson

MIAMI — The Treo Group has broken ground on VOX Miami Phase II, a 13-story student housing development located adjacent to the South Miami Metrorail station near the University of Miami campus. The project will offer 400 beds in 163 units, alongside 10,000 square feet of ground floor retail space. Together with Phase I of the development, the community will offer 726 beds and 15,000 square feet of retail space. Further details on the project were not provided. The development team includes FirstBank Florida, ABANCA USA, MODIS Architects, MOSS & Associates and Asset Living.

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