Student Housing

Alliant: Communication is a Commodity in Today’s Lending Environment

by Jaime Lackey February 19, 2019

Communication and transparency are always top priorities for commercial lenders and borrowers. Paul Letourneau, manager of commercial lending at Alliant Credit Union, believes these are the true skills lenders should leverage in today’s market. Letourneau knows we’re long in this cycle — and he says that’s not a bad thing. There is still a great need for capital, but with that demand comes the competition among suppliers. This, Letourneau asserts, has caused lenders like credit unions to make sure their relationships with mortgage brokers and sponsors are as strong as possible. The ability to remain competitive while disciplined is no easy task. Letourneau believes this starts with strong communication between all parties. Watch the video for more insights from Letourneau. Alliant Credit Union is a content partner of REBusinessOnline. Click here to view articles written in conjunction with Alliant.

February 19, 2019

Acquisitions Multifamily Student Housing Texas

Preiss, Crow Holdings Acquire 694-Bed Student Housing Community in San Antonio

by Alex Tostado February 8, 2019

SAN ANTONIO — Raleigh, N.C.-based The Preiss Co., in a joint venture with a fund advised by Crow Holdings Capital, has acquired Luxx, a 694-bed student housing community in San Antonio. The property serves the University of Texas at San Antonio and features a pool with a swim-up bar, outdoor cabanas, grilling areas, a cyber lounge and a two-story fitness center. Preiss will undertake a multimillion-dollar capital improvement plan to certain amenity spaces, including the clubhouse and the dog park. The seller was not disclosed.

February 8, 2019

Alabama Development Multifamily Southeast Student Housing

Opus Group, McKinney Fund Break Ground on 17-Story Student Housing Community Near University of Alabama at Birmingham

by Alex Tostado January 29, 2019

BIRMINGHAM, ALA. — The Opus Group, in partnership with The McKinney Fund & Co., has broken ground on a 522-bed student housing community near the University of Alabama at Birmingham (UAB). The 17-story mixed-use development will offer floor plans ranging from studios to four-bedroom units. Shared amenities will include a fitness center, spa, study rooms and lounges, an outdoor amenity deck with fitness areas, fire pits, a coffee bar, club room, rooftop pool and grilling stations. Myefski Architects designed the community. Auburn, Ala.-based Rabren General Contractors will serve as general contractor, and Creative License International will design the interiors for the project. The community is scheduled to open in fall 2020.

January 29, 2019

Acquisitions Multifamily North Carolina Southeast Student Housing

Preiss, Nuveen Acquire 525-Bed Student Housing Community Near North Carolina State

by Alex Tostado January 28, 2019

RALEIGH, N.C. — A joint venture between The Preiss Co. and Nuveen Real Estate has acquired Signature 1505, a 525-bed student housing community located near North Carolina State University in Raleigh. The property offers one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, fitness center and 24-hour study and conference areas. Terms of the transaction and the seller were undisclosed.

January 28, 2019

California Development Multifamily Student Housing Western

California State University Board Grants Final Approval for $164 Million Residence Hall

by Amy Works January 28, 2019

SACRAMENTO, CALIF. — The trustees of California State University have given final approval for a $164 million student housing community to be built on the university’s Sacramento campus. A public-private partnership between the university, Greystar and the university’s nonprofit affiliate, University Enterprises Inc., will develop the community. The 360,000-square-foot development will offer 1,100 beds in studio, two- and four-bedroom, apartment-style units. The property will also feature a clubhouse, café, fitness center, community room, outdoor pool, sand volleyball court, bocce court, barbecues and 546 surface-level parking spaces. The development team is scheduled to break ground on the project in May, with completion set for summer 2021. The first phase of the project, which includes relocating the Dan McAuliffe Memorial Ballparks to a new location, is currently underway. Steinberg Hart architects designed the project, which Sundt Construction will build.

January 28, 2019

Acquisitions Georgia Multifamily Southeast Student Housing

Zargo Invest Acquires Student Housing Community Near University of Georgia for $8.4M

by Alex Tostado January 22, 2019

ATHENS, GA. — Zargo Invest has acquired Farmer’s Exchange, a 121-bed student housing community located near the University of Georgia campus in Athens, for $8.4 million. The name of the seller was undisclosed. Zargo plans to invest $1 million in renovations, including interior and exterior painting, installation of smart security systems in units, a new business center and lounge and new security cameras. CollegeTown Properties has been tapped to manage the community. A renovation timeline has yet to be announced.

January 22, 2019

Features Midwest Multifamily Northeast Southeast Student Housing Texas Western

NKF Multifamily: Student Housing Sector Outlook for 2019

by Katie Sloan January 17, 2019

To ring in the New Year, Student Housing Business — sister publication to REBusinessOnline — sat down with Ryan Lang, executive managing director and head of Newmark Knight Frank’s student housing division, to discuss his outlook for the year ahead. SHB: What challenges will your market face in 2019? Where are the opportunities within these challenges? Lang: It appears volatility on the capital markets side will continue to be closely monitored heading into 2019 and beyond. There remains great opportunity as the student market, as a whole, is fundamentally sound and viewed as a risk averse asset class within the larger investment community. SHB: Which submarkets will surprise people in 2019? Lang: While average occupancy at major Tier I universities continues to be stable near 95 percent, we believe several markets that have been supply constrained over the past few academic year cycles will begin making noticeable recoveries. Of note, we believe Texas Tech (Lubbock), Ole Miss (Oxford), and Michigan State (Lansing) have the potential to outperform investor expectations. SHB: What market shifts are you noticing that others haven’t? What would you whisper to clients and prospects? Lang: Along with newer construction product, there are clearly more opportunistic assets hitting the market and more yield driven …

January 17, 2019

Acquisitions Multifamily Student Housing Texas

Preiss, Centaline Acquire 288-Bed Student Housing Property in San Antonio

by Taylor Williams January 16, 2019

SAN ANTONIO — Raleigh, N.C.-based student housing owner-operator The Preiss Co., in partnership with Centaline Investment Management Co., has acquired The Estates at San Antonio, a 288-bed property serving the University of Texas at San Antonio (UTSA). The 104-unit property is located less than two miles from campus, features an average unit size of 1,712 square feet and offers amenities such as a pool, volleyball court, 24-hour fitness center and outdoor grilling/picnic areas. The seller was not disclosed.

January 16, 2019

Development Florida Multifamily Southeast Student Housing Top Stories

University of Miami Unveils Plans for $260 Million On-Campus Residential Village

by David Cohen January 9, 2019

CORAL GABLES, FLA. — The University of Miami has unveiled plans for a residential village set to replace the existing Stanford and Hecht Residential colleges on the university’s campus in Coral Gables. The 522,000-square-foot development — named Centennial Village — will include 1,700 beds for first-year students in four residential colleges, indoor and outdoor spaces for academic and extracurricular activities, a learning hub, meditation room and apartments for faculty and staff. The total project cost for the multi-phase development is estimated at $260 million. “The university will be providing the next generation of [students] a unique residential experience that will enhance and contribute more to their college success,” says Patricia Whitely, vice president for student affairs at the University of Miami. “We look forward to this project, which will complement the Student Housing Village currently under construction.” The first phase of development is scheduled to open in fall 2022 and will replace Stanford Residential College. Phase II will be delivered in fall 2024, and will replace Hecht Residential College. The university also plans to renovate an existing property, Easton Residential College, and incorporate it into Centennial Village in fall 2025. Design plans for the project have been submitted to the City of Coral …

January 9, 2019

Acquisitions Midwest Multifamily Nebraska Student Housing

Joint Venture Acquires 632-Bed Student Housing Community in Lincoln, Nebraska

by Kristin Harlow January 8, 2019

LINCOLN, NEB. — GMH Capital Partners LP and AGC Equity Partners have acquired Aspen Lincoln, a 632-bed student housing community in Lincoln. Located two blocks from the University of Nebraska-Lincoln, the property spans five floors and 203,552 square feet. Amenities include a fitness center, pool, hot tub, study lounges, computer labs and courtyards with fire pits. The buyer plans to rename the student housing community Academy Lincoln. Aspen Heights Partners and Virtus Real Estate Capital were the sellers.

January 8, 2019

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