Auburn, Ala. — Tailwind Group has acquired The Beacon, a 576-bed student housing community located near the Auburn University campus in Alabama. Ryan Lang of Newmark brokered the acquisition of the property from an undisclosed seller. The garden-style community offers 180 units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include shuttle service to campus, a pet park, swimming pool, sundeck, outdoor grill station, 24-hour fitness center, outdoor fireplace, sand volleyball court, computer lab, study room, coffee bar and a package room. The new ownership plans to renovate …
Alabama
Auburn, Ala. — Cushman & Wakefield has arranged the sale of The HUB at Auburn, a 368-bed student housing community located at 626 Shug Jordan Parkway near the Auburn University campus in Alabama. Travis Prince, Shawn Lubic and Victoria Marks of Cushman & Wakefield’s student housing capital markets team represented the seller, FPA Multifamily, in the transaction. The property was acquired by Capstone Real Estate Investments for an undisclosed price. Developed in 1989, the community consists of six three-story buildings that were 96 percent leased at the time of sale. The …
Tuscaloosa, Ala. and Lawrence, Kan. — The Preiss Co. has acquired two student housing communities located in Alabama and Kansas. Acquisitions include The Collective at Lawrence, a 784-bed, cottage-style community located near the University of Kansas in Lawrence; and Riverfront Village, a 440-bed community located near the University of Alabama campus in Tuscaloosa. Formerly known as The Nest, The Collective at Lawrence was built in 2018 and offers 270 units. Shared amenities include a state-of-the-art clubhouse, indoor/outdoor fitness center, swimming pool, hot tub, disc golf course, soccer field and study areas. …
Auburn, Ala. — Muinzer has acquired Samford Square, a 752-bed student housing property located near the Auburn University campus in Alabama. The community offers units in two-, three- and four-bedroom configurations, which were fully leased at the time of sale. Shared amenities include a resort-style swimming pool, cyber café, resident activity room, sand volleyball court, clubhouse, hammock garden, 24-hour gaming lounge and a free tanning bed. Peter Katz of Institutional Property Advisors, a division of Marcus & Millichap, brokered the transaction. The seller and terms of the deal were not disclosed.
Audubon Acquires Student Housing Tower in Birmingham, Plans Conversion to Market-Rate Apartments
Birmingham, Ala. — Audubon has purchased Scholar Birmingham, a 198-unit student housing high-rise in Birmingham’s Five Points neighborhood. The tower was developed as an off-campus student housing property in 2020 due to its proximity to University of Alabama at Birmingham (UAB). The seller and sales price were not disclosed. Audubon plans to transition the property to market-rate housing in a retrofit that includes modernizing the interiors and enhancing community amenities. According to the Scholar Birmingham property website, the community offers fully furnished, pet-friendly studio, one-, two-, three- and four-bedroom apartments. …
Auburn, Ala. — Muinzer, alongside capital partner T2 Capital Management, has acquired Evergreen Auburn, a 486-bed student housing community located near Auburn University in Alabama. The property was recently renovated and offers units in one-, two- and four-bedroom configurations. Shared amenities include a 24-hour fitness center, swimming pool, computer lounge, clubhouse, dog park, hot tub, fire pit and coffee bar. The community is 88 percent pre-leased for the 2024-2025 academic year. Terms of the transaction and the seller were not disclosed.
Capstone Development Partners Hires Jordan Gaston as Vice President, Head of Workforce Housing
Birmingham, Ala. — Capstone Development Partners has hired Jordan Gaston as vice president and head of the Birmingham-based company’s workforce housing division. Gaston previously served as director of finance in Capstone’s finance division from 2016 to 2021. During that time, he led the structuring of ownership and financing for $1 billion in on-campus and off-campus student housing and mixed-use developments. Gaston most recently served as vice president with Citigroup’s public finance department. “Escalating rents and housing shortages continue to challenge our college and university partners in their efforts to provide …
Auburn, Ala. — Auburn University has broken ground on a $63 million residence hall project along Haley Concourse on the university’s campus in Alabama. The 371-bed community will house first-year students upon completion, which is scheduled for summer 2026. The 125,651-square-foot development will feature amenities including multipurpose communal spaces and kitchens, group study rooms, laundry facilities on every floor and bike storage. The community will also be home to housing department offices and a storm shelter. The development team for the project, which is targeting LEED certification, includes Niles Bolton …
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 …
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, …