Alabama

Mustang-Village

Jacksonville, Ala. and Wichita Falls, Texas — Calidus has received $25 million for the refinancing of two student housing properties in Alabama and Texas. Communities include Mustang Village, located less than one mile from the Midwestern State University campus in Wichita Falls, Texas; and Gamecock Village, located blocks away from the Jacksonville State University campus in Jacksonville, Alabama. The properties offer a combined 504 beds in two- and three-bedroom units with bed-to-bath parity. Shared amenities at both properties include resort-style swimming pools, fitness centers, game rooms, study space, sand volleyball …

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Collective-Auburn

Auburn, Ala. — The Preiss Co. (TPCO) has recapitalized the Collective at Auburn, a 600-bed community located near the Auburn University campus in Alabama. A multi-million dollar renovation is planned for the property, which will include upgrading countertops, appliances and paint in select units; modernization of unit access controls; and fully furnishing 25 percent of units. Upgrades are slated to begin in spring 2025. The community offers two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a 24-hour fitness center, swimming pool, basketball court, tanning salon, volleyball court, …

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4315-Holmes-Avenue_UAH

Huntsville, Ala. — Capstone Development Partners and Boaz Ventures plan to break ground on a $60 million student housing property adjacent to University of Alabama Huntsville (UAH) in October. Located at 4315 Holmes Ave. NW near the UAH Campus Recreation Center, the community, dubbed Nexus on Holmes, will be a four-story, 249-unit property with a mix of one-, two- and four-bedroom apartments. Capstone and Boaz are envisioning the 239,000-square-foot residential property to house undergraduate and graduate students, as well as UAH staff. Amenities will include two courtyards, an outdoor pool, …

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Auburn, Ala. — WFI has received a $37.5 million refinancing for The Union at Auburn, a 501-bed community serving students attending Auburn University in Alabama. The property is located at 900 W. Glenn Ave. and offers two-, three-, four-, five- and six-bedroom units. Tremont Realty Capital provided the financing through Seven Hills Realty Trust, a mortgage REIT managed by the company. The loan is structured with a 30-month initial term and the option for one 12-month extension. Shared amenities include a “state-of-the-art” clubhouse; two-story fitness center, including space for barre, …

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Jacksonville-State

Jacksonville, Ala. — A public-private partnership between RISE: A Real Estate Co. and Jacksonville State University has broken ground on North Village Residence Hall. Located on the university’s campus in Alabama, the 513-bed community will offer suites that include two double-occupancy bedrooms and two bathrooms. The development team for the project includes architect Niles Bolton & Associates and general contractor Choate Construction.  Jacksonville State is also currently developing a new dining hall, which will replace the current main cafeteria on campus, and the Loring and Debbie White Football Complex. The …

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Mike-Polzin

Birmingham, Ala. — Capstone Development Partners has hired Mike Polzin as vice president of operations for the company’s property management subsidiary, Capstone Management Partners (CMS). In his new position, Polzin will oversee the company’s portfolio managers and cell teams, while assisting with the transition of new properties into CMS’ portfolio. At his former company, Polzin provided oversight for 26 communities totaling over 18,000 beds of student housing. “We are excited to have Mike join the CMP team, bringing his depth of university experience and professional management expertise to advance Capstone’s …

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RPM-Alabama

Auburn, Ala. — RPM Living has been awarded management of Samford Square, a 756-bed student housing community located near Auburn University in Alabama. The property offers 246 furnished units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style swimming pool, clubhouse, 24-hour fitness studio, theater lounge, sand volleyball court, hammock garden, cyber cafe, tanning booth and activity room. 

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DavidMorrisey

Birmingham, Ala. — Capstone Development Partners has promoted David Morrisey to vice president of construction management. Morrisey previously served as the Birmingham, Alabama-based company’s construction manager. In his new position, Morrisey will lead and oversee Capstone’s construction management division, ensuring that projects are delivered on-time and on-budget. He has led the construction of over 3,000 beds on campuses including the University of Massachusetts-Boston and Arizona State University.

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Tuscaloosa, Ala. — TSB Realty has arranged the sale of The Walk, a 251-bed student housing community located near the University of Alabama campus in Tuscaloosa. Spaces Management sold the property to Versity Invest for an undisclosed price. Delivered in 2020, the property offers 87 furnished units with bed-to-bath parity. Shared amenities include a swimming pool with a tanning deck and 12-foot outdoor television; grilling stations; a fire pit lounge; state-of-the-art fitness center; and relaxation court with life-size games. “It’s hard to beat a newly delivered property in a Power …

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Ascend-Five

Birmingham, Ala. — Coastal Ridge Real Estate has been awarded management of Ascend Five Points South, a 520-bed student housing property located near the University of Alabama at Birmingham. The property was developed by by Opus Development and offers studio to four-bedroom, fully furnished units. Shared amenities at the community include a rooftop swimming pool, 24-hour fitness center, game room, study lounges, outdoor grilling stations, a relaxation room with a sauna and on-site scooter rentals. The property was 92 percent occupied at the time of assignment. 

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