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Canvas
ArizonaDevelopmentNews

Toll Brothers, Harrison Street to Break Ground on 826-Bed Community Near Arizona State

by Katie Sloan

Tempe, Ariz. — A joint venture between Toll Brothers Campus Living and Harrison Street is set to break ground on Canvas, an 826-bed community serving students attending Arizona State University in Tempe. The six-story property will offer units with bed-to-bath parity and modern furniture packages. Shared amenities are set to include a state-of-the-art fitness center, clubhouse, e-sports lounge, rooftop pool, business center, cafe, ground floor retail, grilling stations, a courtyard and fire pit, private study rooms, electronic package lockers and bike storage. Cardinal Group Management has been tapped to manage …

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Union-Tempe
ArizonaFinanceNews

TSB Capital Consults on 15 Transactions in Third Quarter, Points to Availability of Capital for Student Housing

by Katie Sloan

Phoenix — The availability of financing for student housing projects has been the subject of much discussion over the past several months, but according to TSB Capital Advisors Founder Tim Bradley, there is capital available for the right deal. The company consulted on 15 deals during the third quarter, totaling nearly 3,700 units and more than 9,300 combined student housing beds. Deals ranged from joint venture partnership and construction financing, to senior permanent financing and a closed sale. “It’s a testament to our industry-leading clients and our long-standing relationships in …

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Apollo
ArizonaDevelopmentGeorgiaMarylandNewsOregonRhode Island

Gilbane Development Completes Four Student Housing Developments Totaling 3,000 Beds

by Katie Sloan

Providence, R.I. — Gilbane Development Co. has completed four student housing projects totaling over 3,000 beds. Properties include:  Altus, a 720-bed community serving students attending Towson University in Maryland. The community — located within the Towson Row mixed-use development — offers shared amenities including a fitness center, computer lounge, study rooms, a game room, swimming pool, grilling area, fire pit, bocce court and pet park. Apollo, a mixed-use community offering 943 beds of student housing, 64 units of traditional multifamily housing and 12,000 square feet of retail space near Arizona …

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Cadence Tucson
ArizonaInvestment SalesNews

Joint Venture Acquires 456-Bed Community Near the University of Arizona

by Katie Sloan

Tucson, Ariz. — A joint venture between Pebb Student Living and Coastal Ridge Real Estate has acquired The Cadence Tucson, a 456-bed student housing community located near the University of Arizona. The community offers studio, one-, two-, three-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, hot tub, rooftop fire pit and grilling station, on-site retail space, a fitness center, tanning salon, sauna, gaming lounge and a coffee bar. The seller in the transaction was undisclosed. 

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Vertex
ArizonaInvestment SalesNews

University Partners Acquires 600-Bed Community Near Arizona State University

by Katie Sloan

Tempe, Ariz. — University Partners has acquired Vertex, a 600-bed student housing community located near Arizona State University in Tempe. The property was built in 2015 and offers a mix of one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include 7,700 square feet of retail space, a resort-style swimming pool, two-story fitness center with a rock climbing wall, a clubhouse, private study rooms and a cycle room. University Partners plans to upgrade and refresh community common areas and will oversee management of the property. The seller and …

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Broadstone Vilara
ArizonaCompany NewsNewsSouth Carolina

Greystar Acquires Property Management Business of Alliance Residential, Including Future Business

by Katie Sloan

Charleston, S.C. and Phoenix — Multifamily and student housing development and management firm Greystar Real Estate Partners has acquired the property management business of competitor Alliance Residential Co., the fourth-largest apartment management firm in the United States. Financial terms of the transaction were not disclosed, but The Wall Street Journal reports that the all-cash deal totaled nearly $200 million. Phoenix-based Alliance Residential will shift its focus from property management to development, construction and acquisition across the multifamily spectrum, including workforce housing and seniors housing. As part of the deal, Greystar will …

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ArizonaInvestment SalesNews

IPA Negotiates $123 Million Sale of 625-Bed Student Housing Community Near Arizona State University

by Katie Sloan

Tempe, Ariz. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of West Sixth, a student housing community located steps from Arizona State University in Tempe. An undisclosed buyer acquired the asset for $123 million. Peter Katz, Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the buyer in the transaction. Completed in 2011, the two-tower property offers 375 units totaling 625 beds. Shared amenities include a swimming pool, hot tub, business center with private conference rooms, a 24-hour fitness center, tanning beds, a …

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ArizonaDevelopmentNews

Construction Underway on 826-Bed Community Near Arizona State University

by Katie Sloan

Tempe, Ariz. — Construction is underway on Canvas, an 826-bed student housing community located near Arizona State University in Tempe. The property is being developed by Toll Brothers Campus Living and is scheduled for completion in fall 2021. The development will offer a mix of studio, one-, two-, three- and four-bedroom, fully furnished units. Shared amenities will include a rooftop swimming pool, outdoor grills, a state-of-the-art fitness center, private study rooms, a clubroom and an e-sports lounge. 

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ArizonaDevelopmentNewsOn-campus

Arizona State, Capstone Development Break Ground on $118 Million Mixed-Use Development in Downtown Phoenix

by Katie Sloan

Phoenix — A public-private partnership between Arizona State University and Capstone Development Partners has broken ground on a $118 million mixed-use development located within the university’s downtown Phoenix campus. The project — titled the Downtown Phoenix Residence Hall and Entrepreneurial Center — will feature 75,000 square feet of academic space in the form of design studios, flexible classroom space, fashion studios, fabrication labs, music practice rooms, recording studios and live event space. The 207,000-square-foot residential component of the community will house 530 students in two- and four-bedroom, apartment-style units. The …

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ArizonaDevelopmentNews

Trinitas Acquires Development Site Near Arizona State University

by Katie Sloan

Tempe, Ariz. — Trinitas has acquired a development site located at 707 S. Forest Ave. near Arizona State University in Tempe. The company plans to develop a 530-bed, mixed-use community offering studio, one-, two-, three- and four-bedroom units alongside street level retail. Shared amenities at the development will include a swimming pool, fitness center, collaboration spaces and an open-air skydeck. Equity financing for the acquisition was provided by a joint venture between Trinitas and Harrison Street. Construction financing has been provided by PNC Bank. “We are pleased to continue our …

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