DEVELOPMENT BEGINS FOR STUDENT HOUSING PROJECT

SAN ANTONIO — Place/BV Student Housing Fund has closed on the land acquisition and construction loan for a new student housing project serving the University of Texas – San Antonio. Known as Avalon Place, the project will consist of 246 units in a mix of one-, two- and four-bedroom units. Community amenities include a clubhouse featuring an activity room, pool tables, a computer lab and a fitness center. Other amenities include a fitness center and a spa. Construction for the project has begun, and completion is slated for July. The manager of Place/BV Student Housing Fund is BVP Managers LLC, a joint venture between Chicago-based Blue Vista Capital Management and Atlanta-based Place Companies, an Affiliated Group.