Beverly Hills, Calif. — Nimes Real Estate has hired Claudia Powers as managing director of asset management. In her new role, Powers will oversee asset management of the Beverly Hills, California-based company’s portfolio, which includes properties in Houston, Texas; Dallas; San Antonio, Texas; Atlanta; Tampa, Florida; Santa Barbara, California; and Knoxville, Tennessee. Prior to joining Nimes, Powers worked as director of asset management with Greystar.
Huntington Beach, Calif. — Multifamily payment technology platform Pay Ready has hired Janis Rossi as senior vice president of marketing. In her new role, Rossi will be responsible for expanding and strengthening the Huntington Beach, California-based company’s brand strategies and marketing. Rossi brings more than 18 years of industry marketing experience to the company. She most recently served as a founding member of ROVR Score. “Janis has an immense level of talent, proven success in leading marketing initiatives and establishing a brand’s identity,” says Lynn Musil, co-founder and CEO of Pay …
Los Angeles — Champion Real Estate Co. has acquired two former fraternity houses located at 624 W 28th St. and 2715 Portland St. near the University of Southern California (USC) campus in Los Angeles for $16.7 million. Two subsidiaries of Champion — Victory on 28th LLC and Victory House Portland LLC — will begin rebranding and renovating the properties into student housing communities imminently. The two properties will offer fully furnished units and shared amenities including oversized lounges, rooftop decks and private study spaces. Michael Fukushima and Stephen Watson of …
Los Angeles — Landmark Properties is set to break ground on The Mark at Los Angeles, a 166-bed student housing development located adjacent to the University of California, Los Angeles (UCLA) campus at 10915 Strathmore Drive. The community will offer two- through five-bedroom units, including five affordable units offering 21 beds. Shared amenities will include an outdoor courtyard, private and shared rooftop terraces and a resort-style swimming pool. Landmark purchased the development site from the Pacific Southwest District of the Lutheran Church-Missouri Synod (LCMS), which had owned the land and …
Irvine, Calif. — SmartStop Asset Management, a privately held alternative asset management and real estate investment firm, has changed its name to Strategic Asset Management I (SAM). The company is set to relocate its headquarters to Irvine, California, during the second half of 2022. “The new name reflects our continued commitment to our student and senior housing portfolio, while also expanding our platform to include conventional multifamily and industrial properties,” says John Strockis, president of SAM. “Our investors want tax-advantaged real estate investments and we’re excited to expand our portfolio while …
Los Angeles — CBRE has arranged the sale of Studio 11024, a 160-bed student housing property serving students attending the University of California, Los Angeles (UCLA). The 31-unit community was built in 2015 in the Westwood neighborhood of Los Angeles. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Laurie Lustig-Bower and Kadie Presley Wilson of CBRE represented the seller, Phoenix Property Co., in the disposition of the property to an undisclosed company based in the Los Angeles area. The property offers shared amenities including a fitness center; yoga studio; study center with …
Los Angeles — Champion Real Estate Co. has sold Victory on Ellendale, a 96-bed student housing property located near the University of Southern California (USC) in Los Angeles, for $20.5 million. The property was renovated in 2019, with upgrades including the addition of stainless steel appliances, quartz countertops, new cabinetry and hardware, lighting, window coverings, vinyl plank flooring, bathroom upgrades and paint throughout each unit. Arthur Arejian and Jon Tran of Vanguard Investments represented the undisclosed buyer and seller in the transaction.
Davis, Calif. — Construction is underway on Orchard Park, a 1,600-bed student housing community located on the University of California, Davis campus. The property will target graduate students, offering units at below-market rates. The community is scheduled for completion in fall 2023. Orchard Park is Phase II of a larger development named The Green at West Village, which is being built through a public-private partnership between the university and Michaels. Phase I of the project delivered 1,000 beds in fall 2020, and included nine four-story buildings with shared amenities including …
San Jose, Calif. — CIM Group has provided a $150 million refinancing to AMCAL Equities and Star America for The Grad, a 1,039-bed student housing community located near San Jose State University. The 19-story property offers studio, two-, three-and four-bedroom, fully furnished units. Shared amenities include 14,889 square feet of ground floor retail space, study rooms, a computer lab, fitness center, swimming pool and bicycle storage. The financing was arranged by Bryan Gortikov of Gortikov Capital.
San Jose, Calif. — Urban Catalyst has received approval for development of The Mark, an 850-bed student-focused community located one block from the San Jose State University (SJSU) campus in California. Groundbreaking is expected before the end of this year with completion scheduled for fall 2024. The property will offer 200 units alongside shared amenities including open-air decks, common areas designed to promote student success and views of the SJSU campus. “Our goal is to offer students a robust off-campus experience that complements their educational experience,” says Erik Hayden, founder …
