Moderator Randall Shearin, Editor of Student Housing Business, leads a panel of experts as they discuss the difficulties and opportunities created by the COVID-19 pandemic. Student housing experts Casey Petersen, COO, Peak Campus; Chris Richards, Executive Director, Real Estate Operations, Greystar; Adam Byrley, COO, The Preiss Company; Grant Collard, CEO, Redstone Residential; Alex O’Brien, COO, Cardinal Group; and Miles Orth, EVP and COO, Campus Apartments speak about the expected occupancy for Fall 2020, what message operators have for student housing investors, the likely fallout and possible positive impacts (including increased …
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University Furnishings and Student Housing Business bring together several college students for a no-holds-barred discussion of their student housing experience. Participants discuss the good, the bad and the ugly — beginning with their experience searching for a new place to call home, and covering everything that happens until move out. This webinar offers the authentic perspectives of today’s college student and purpose-built student housing resident. For more information on the student housing industry, subscribe to the weekly Student Housing Business newsletter or the bi-monthly magazine.
Mark Weinstein, president and founder of MJW Investments, knows a good thing when he sees it. That’s how he got into the student housing industry. But in recent years, many other multifamily developers have segued into student housing, resulting in overbuilding in some areas, such as around Texas A&M. Weinstein does think the tide is turning a bit and the number of players is causing a slowdown, but he doesn’t foresee doom and gloom. Rather, he believes investors and developers will have to work a little harder for that profit. …
Peter Stelian, CEO and co-founder of Blue Vista, knows there’s increased competition in the market. He also knows that there are development challenges to overcome that may weed out some of the players. Stelian notes, for example, that more than 20 percent of all projects delivered in 2018 failed to meet their construction schedules. This is due to a variety of factors, including labor costs and shortages, in addition to the fact that many projects nowadays are much more complex than they were decades ago. To complete in the market, …
Rob Bronstein, co-founder of The Scion Group, started his firm as a two-person operation back in 2000. Today, the company maintains a portfolio valued at more than $5 billion with 70,000-plus beds and 1,400 employees. Bronstein believes his firm’s longevity in the market is due to just that having a longer-term outlook that doesn’t get too bogged down in the inevitable market hiccups that happen year to year. Scion continues to deploy that strategy today as it re-enters acquisition mode after taking some time to absorb its last round …
Unilodgers, an online marketplace that lets students find their ideal housing accommodations, is bringing its platform stateside. The company has already engaged more than 1.1 million students from 195 countries who are attending universities in the UK and Australia – and now adds U.S. apartment supply to its booking experience. The benefit of Unilodgers, according to Daniel Smith, the company’s Chief Partnerships Officer, is the seamless search experience for students, who can research, compare and book all in one place. Smith likens his company’s product to an Expedia or Orbitz …
Nik Middleton, founding and senior partner / CEO of CUBE 3, knows it’s important to do more with less when it comes to today’s student housing. That’s because proximity to campus has become more important than ever. Middleton has seen the industry evolve, with residents placing a premium on assets closer to campus. This has caused investor interest to shift from suburban sites a few miles from campus to urban, high-rise settings within mere yards of a university. Building upward has placed constraints on spaces, meaning developers have to maximize …
It’s hard to separate students from their phones, which is why companies like ASSA ABLOY are betting big on mobile technology. The costs associated with the hardware and software necessary for conveniences like keyless access to residences have gotten to manageable levels, allowing student housing operators to consider these useful designs. Polina Popova, global business development director of education solutions for ASSA ABLOY Global Solutions, cautions developers, however, that they must partner with the right hardware and software providers to ensure their costs remain low while all facets associated with …
KeyBank Real Estate Capital: New Development, Entrants Increase Competition for Existing Student Housing Operators
by Jaime Lackey
Rehabs and renovations are a big trend in today’s student housing market. That’s because many properties developed around 10 years ago, when purpose-built off-campus student housing began getting traction, are now primed for a renovation. This will be an essential strategy for many owners/investor, asserts Caleb Marten of KeyBank Real Estate Capital. Overall investment activity in the market remains strong, heightening competition in most markets across the U.S. For those owners who want to maintain strong occupancy and rental rates, it’s vital to invest in their properties to differentiate themselves …
Investment and construction continue for Landmark Properties, according to Wes Rogers, the company’s president and CEO. The firm has been very active as of late, with 23,000 beds in the development pipeline. This level of construction is set to continue as the firm plans to add another $1.5 billion worth of projects to its docket in 2019, with similar plans set for the next three to four years. Rogers notes this is a low cap rate environment, though construction costs are high. Still, he feels the fundamentals are strong enough …