Preiss Sells Three Student Housing Communities Near North Carolina State University
RALEIGH, N.C. — The Preiss Co. has sold three student housing communities serving North Carolina State University in Raleigh. Dispositions include University Village at 2505, a 288-bed community developed in 2012; Campus West at Tryon, a 162-bed community developed in 2014; and The College Inn, a 440-bed community developed in 2004. Ryan Lang, Brandon Buell and Jack Brett of Newmark Knight Frank represented the seller in the transaction. Chicago-based Inland acquired the portfolio for an undisclosed amount. University Village at 2505 offers four-bedroom, fully furnished units with shared amenities including a clubhouse, 24-hour fitness center, computer lab, study room and beach volleyball court. Campus West at Tryon offers three-bedroom units with bed-to-bath parity alongside shared amenities including a lounge area, outdoor grilling areas and picnic space. The College Inn offers two-, three- and four-bedroom, fully furnished units with shared amenities including a fitness center, swimming pool, grill and patio area, a media and game room, and an internet cafe.