Tuscaloosa, Ala. — A joint venture between Landmark Properties and affiliates of the Goldman Sachs Merchant Banking Division has acquired two student housing communities located near the University of Alabama. Acquisitions include My House on Caplewood, a 150-bed student housing property, and My House on the 50, a 161-bed student housing property. The communities were acquired from South City Partners for an undisclosed price.
Tuscaloosa, Ala. — Capstone Real Estate Investments (CREI) has acquired Parker 301, a student housing community located near the University of Alabama in Tuscaloosa. The community has been rebranded The Preserve at Tuscaloosa and is set to undergo substantial renovations and repositioning within the market. Renovations will include updates to all units and the addition of one- and two-bedroom floor plans; updates to the community’s clubhouse; an expansion of the property’s business center to include private study rooms; the addition of a new dog park; and a refresh of the swimming …
Tuscaloosa, Ala. — Walker & Dunlop has provided a refinancing for The Cottages at Lake Tamaha, a 1,300-bed student housing community located near the University of Alabama in Tuscaloosa. The financing was structured through Freddie Mac on behalf of the owner, Cardinal Group Investments, and features five years of interest-only payments and a seven-year loan term. Will Baker, Doug McDaniel and William Shell of Walker & Dunlop provided the financing. Tim Bradley of TSB Capital Advisors brokered the transaction. Further terms of the financing were undisclosed. The Cottages at Tamaha …
Auburn, Ala. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed student housing community located near Auburn University. The property is comprised of 13, three-story buildings offering two-, three- and four-bedroom units. Shared amenities include a 24-hour fitness center, resort-style swimming pools, a heated spa, game room, picnic areas, a sand volleyball court, computer lounge, clubroom, private study areas and a lighted basketball court. BCEG International Investment-US purchased the community for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russ Oldham of …
Athens, Ga. — Landmark Properties has opened nine new student housing developments valued in excess of $950 million. The new deliveries total 6,166 beds and are located in North Carolina, Arizona, Alabama, Texas, Illinois, Florida and Pennsylvania. Openings include: The Station at Raleigh, a 658-bed, cottage-style community serving students at North Carolina State University in Raleigh. The property offers one-, three- and four-bedroom units. Shared amenities include a 10,500-square-foot clubhouse, resort-style swimming pool, hot tub, 24-hour fitness center, sauna, study lounge, computer lab, yoga studio, sand volleyball court and an …
Tuscaloosa, Ala. — Capstone Real Estate Investments (CREI) has sold Landmark Apartments, a student housing community located near the University of Alabama in Tuscaloosa. The property was acquired by CREI in January 2018 and has undergone extensive renovations. Terms of the transaction and the identity of the buyer were undisclosed. Landmark Apartments offers one-, two- and three-bedroom units. Shared amenities include a 24-hour fitness center, business center and printing station, a game room, yoga studio, swimming pool, an outdoor fireplace and grilling station, a tanning bed, lounge, hot tub, sauna, …
San Marcos, Texas and Tuscaloosa, Ala. — Vie Management has acquired two student housing communities located in Alabama and Texas. Acquisitions include University Downs, a 436-bed, garden-style community located near the University of Alabama in Tuscaloosa; and Ella Lofts, a five-story, 252-bed student housing community located near Texas State University in San Marcos. University Downs offers one-, two- and three-bedroom units. Ella Lofts — rebranded as Vie Lofts at San Marcos — offers one-, two- and four-bedroom units. Renovations are underway at both communities and will include upgrades to communal …
Tuscaloosa, Ala. — CBRE has arranged the sale of The Grand at Rum Creek, an 868-bed student housing community located near the University of Alabama in Tuscaloosa. The complex is comprised of 21 four-story apartment buildings. Shared amenities include a fitness center with a yoga studio and spin room; basketball and volleyball courts; and a resort-style swimming pool. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russell Oldham of CBRE arranged the disposition of the property to Tailwind Group on behalf of the undisclosed seller. Terms of the transaction …
Lubbock, Texas — Berkadia has provided a $48.6 million Freddie Mac loan for the refinancing of Capstone Cottages of Lubbock, a 969-bed student housing community in the West Texas city of Lubbock.
The student housing sector is as robust as ever, with growing interest from investors, rising rental rates and continued demand for new supply. PEBB Capital — an opportunistic, multi-strategy real estate and private equity investment firm founded in 2014 — is one such investor looking to grow its stake in the industry.
