Industry Voices

As we approach the one-year anniversary of the start of the pandemic, it is undeniable that COVID-19 has had an impact on the way we go about our day-to-day lives. Across every sector of commercial real estate, we’ve had to pivot and adjust all aspects of our business — including the massive and timely process of moving residents in and out of our communities.  Prior to the start of the pandemic, GMH Capital Partners had implemented an efficient move-in process that was mostly contactless. Over the course of the last …

Student Housing Business talked with Michael Baird, managing director of municipal finance at RBC Capital Markets, regarding the pandemic’s impact on funding for public-private partnership developments and potential long-term changes in the industry moving forward.  SHB: How would you characterize lender receptiveness to public-private partnership student housing deals across 2020? Has it changed as the year progressed?   Baird: P3 student housing has had a solid track record as a well-performing asset class for many years. While the global pandemic has negatively impacted many sectors, higher education — and specifically P3 student …

When the news of the coronavirus disease first began slowly whispering its way through the country in early 2020, the idea of a full-blown, global pandemic was the furthest thing from anyone’s mind — especially in the off-campus student housing sector, or the housing market in general. Now, nine months into 2020 and just weeks — or months depending on where you live in the U.S. — post-lock-down and that far-fetched concept of a global pandemic has become a very sobering reality.  Schools, colleges and universities shut down well before …

Throughout the COVID-19 pandemic, student housing has performed remarkably well compared to other property types, showing particularly high occupancy rates and consistent rent collections. In April, May, June and July, monthly collections exceeded 95 percent of scheduled rents across the country. When comparing Berkadia’s monthly Student Housing Market Trends Report to the National Multifamily Housing Council’s (NMHC) Rent Payment Tracker, student housing collections exceeded conventional multifamily collections every single month. From a macro level, we understand why most assets have performed at such high levels during this unprecedented time. For …

The COVID-19 tsunami devastated industries all over the country and around the world, grinding many businesses to a halt. Before the pandemic, the commercial real estate industry was riding high with a 10-year run dating back to the Great Recession with few signs of slowing in a roaring economy.  If one thing was made clear during the pandemic, it was that life in the U.S. will never be the same. New phrases came to light that were never heard before but are now household terms — social distancing, shelter-in-place and flattening …

In June, Student Housing Business reached out to Timothy Bradley, founder of TSB Capital Advisors, for an update on the market for financing in the student housing sector and the outlook for the year ahead. SHB: How would you describe the market for financing student housing at present? Tim Bradley: Challenging but not impossible for the right deal with strong sponsorship. For cash-flowing student housing assets, there is still an element of ‘wait and see until fall’ for refinancings and acquisitions in the debt markets. We are still receiving quotes …