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 …
Katie Sloan
Mesa West Capital Originates $134 Million Loan for Student Housing Community Near University of Georgia
Athens, Ga. — Mesa Capital West has provided a $134 million loan to refinance Rambler Athens, a newly constructed, 750-bed student housing complex located adjacent to the University of Georgia in Athens. The four-year loan will refinance the existing construction loan for the property. Harrison Reid of TSB Capital Advisors arranged the financing on behalf of the borrower, Austin-based developer LV Collective. Brian Hirsh and Jonah Sacks of Mesa Capital West’s Chicago office, alongside Russell Frahm from the firm’s New York office, originated the loan. Situated along Broad Street, Rambler Athens …
Indianapolis — The Annex Group has hired Todd Sears as chief operating officer. In his new position, Sears will lead the Indianapolis-based firm’s development, construction and property management teams. He brings over three decades of experience to the position. “The Annex Group has experienced significant growth, specifically within the past few years,” says CEO Kyle Bach. “To keep pace with our growing portfolio, we have expanded our leadership team. Bringing Todd — someone with vast experience and lots of ideas for how to continue to grow and do even better work …
West Lafayette, Ind. — Muinzer has promoted Michael Snyder to the role of president. In his new role, Snyder will provide key strategic and operational direction to the West Lafayette, Indiana-based firm. Snyder will also continue to serve in his current role of chief operating officer. “For more than 20 years, Muinzer has maintained a consistent approach to student housing investing and has provided a culture of stability throughout numerous cycles for all of its stakeholders,” says Founder and CEO Marc Muinzer. “As we transition into this new stage of growth …
San Marcos, Texas — CBRE has arranged the sale of Cottages at San Marcos, an 899-bed student housing community located at 1415 Craddock Ave. near the Texas State University campus in San Marcos. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE arranged the disposition on behalf of the seller, an undisclosed Singapore-based global real estate company. The buyer and terms of the transaction were not released. Built in 2014, the community offers 194 cottage and townhome units in three-, four-, five- and six-bedroom configurations. Shared amenities include a 12,000-square-foot clubhouse; …
Landmark, Peninsula to Develop 738-Bed Student Housing Project Near University of Connecticut
Storrs, Conn. — A partnership between Georgia-based developer Landmark Properties and Miami-based private equity real estate firm Peninsula Investments will develop The Mark Mansfield, a 738-bed student housing project in Storrs, home of the University of Connecticut. The 1.5-acre site at 134 N. Eagleville Road is adjacent to campus. Information on specific floor plans and amenities was not disclosed, but The Mark Mansfield’s residences will be fully furnished with high-end finishes. In addition, the property will house approximately 7,000 square feet of retail space that will be occupied by Huskies Tavern, …
Auburn, Ala. — Tailwind Group has acquired The Beacon, a 576-bed student housing community located near the Auburn University campus in Alabama. Ryan Lang of Newmark brokered the acquisition of the property from an undisclosed seller. The garden-style community offers 180 units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include shuttle service to campus, a pet park, swimming pool, sundeck, outdoor grill station, 24-hour fitness center, outdoor fireplace, sand volleyball court, computer lab, study room, coffee bar and a package room. The new ownership plans to renovate …
Philadelphia — Campus Apartments has announced several leadership promotions across its investment, asset management and operations verticals. Andrew Roth has been promoted to senior vice president of investments; Scott Caliguire has been promoted to associate vice president of asset management; and Cara Castelli has been named vice president of operations. “These promotions reflect the exceptional leadership, drive and dedication that Andrew, Scott and Cara bring to Campus,” says Daniel Bernstein, president and chief investment officer with the Philadelphia-based firm. “We are proud to recognize their contributions as we continue expanding our …
BWE Arranges $23.5 Million Acquisition Loan for Student Housing Property Near Texas State University
San Marcos, Texas — BWE has arranged a $23.5 million acquisition loan for The Edge, a 553-bed student housing property that serves students at Texas State University in San Marcos. The Edge is located less than a mile from campus and offers one-, two-, three- and four-bedroom floor plans across 173 units. Amenities include a fitness center, clubhouse, study areas and a basketball court. Chris Carroll and Max Miller of BWE arranged the financing through Chicago-based Byline Bank. The borrower, Campus Realty Advisors, plans to use a portion of the proceeds …
The United States student housing market is having a post-pandemic renaissance moment. With enrollment at leading universities surpassing pre-pandemic levels and showing signs of persistent growth, owners and developers of student housing properties are well-positioned to capitalize on the rising demand for high-quality assets in prime locations. In fact, student housing has shown its resilience to economic fluctuations in recent years and has outperformed other residential asset classes by offsetting higher interest rates and operating costs with outsized rent growth. Though the number of 18-year-olds in the U.S. is slowly …