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The Scion Group Hires Monte Huber as Chief Financial Officer

by Katie Sloan

Chicago — The Scion Group has hired Monte Huber as the company’s first-ever chief financial officer. Huber will be responsible for financial reporting, accounting and asset management activities on behalf of The Scion Group, Scion Advisory Services and Scion’s national portfolio of student housing communities. Huber joins The Scion Group from Blackstone, where he served as chief accounting officer, chief financial officer and senior vice president of strategic initiatives over the last six years. “We are thrilled to welcome Monte to Scion,” say Rob Bronstein, president and co-founder of the …

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Company NewsIllinoisNews

CA Ventures Announces $12 Billion Investment Strategy, Promotes Four Senior Executives

by Katie Sloan

Chicago — CA Ventures has announced a $12 billion investment strategy for the firm’s student housing and residential divisions in conjunction with the promotion of four senior executives. Promotions include Michael Hales to president of the firm’s student living division; Matt Booma to president and global head of CA’s residential division; JJ Smith to the newly created role of managing principal of CA’s student living division; and Bob Flannery to chief operating officer.  As president of student living, Hales will drive investment, development and operational strategy. Under Hales’ leadership, the …

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Company NewsIllinoisNews

Richard Martinez Promoted to Senior Vice President, Griffin Cotter to Lead Student Division at Freddie Mac

by Katie Sloan

Chicago — Richard Martinez has been promoted to senior vice president of all production and sales at Freddie Mac. Griffin Cotter, director of production and sales, has been tapped to lead the company’s student housing business in place of Martinez. Cotter is part of the central regional management team based in Chicago, which originates more than $13 billion in multifamily loans annually. “We are pleased to announce that Griffin Cotter will be leading our student housing business,” says Richard Martinez, senior vice president for production and sales at Freddie Mac. …

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IllinoisInvestment SalesNews

OC Ventures Acquires 482-Bed Community Near the University of Illinois at Chicago

by Katie Sloan

Chicago — OC Ventures has acquired Automatic Lofts, a 482-bed student housing community located adjacent to the University of Illinois at Chicago campus. The property — originally built as a telephone factory in 1901 — offers one-, three- and four-bedroom, loft-style units. Shared amenities include a fitness center, study lounges on each floor, a cafe, recreation room and laundry services. The new ownership plans to implement capital improvements, which will include building out a larger fitness center; renovating lobby and study areas; and updating unit furniture packages. Varsity Campus will …

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IllinoisInvestment SalesNews

Greystar Acquires 388-Bed Community in Chicago’s South Loop Neighborhood

by Katie Sloan

Chicago — Greystar has acquired 30 East, a 388-bed student housing community located in Chicago’s South Loop neighborhood. Columbia College Chicago holds a 10-year, 340-bed master lease at the community. The remaining 48 beds are open to students at any of the more than 20 colleges and universities located within two miles of the property. The 17-story community offers studio, one-, two-, three- and four-bedroom units. Shared amenities include a third-floor terrace and dog park, state-of-the-art fitness center and a sky lounge. Terms of the acquisition and the seller were …

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FinanceIllinoisNews

NorthMarq Arranges $20 Million Refinancing of Community Near Southern Illinois University

by Katie Sloan

Carbondale, Ill. — NorthMarq Capital has arranged a $20 million Freddie Mac loan for the refinancing of Aspen Court Apartments in Carbondale, home of Southern Illinois University. The property is located at 1101 E. Grand Ave., and offers one-, two-, three- and four-bedroom units. Shared amenities include a swimming pool, tanning facilities, a basketball court, fitness center, computer lab and a picnic area. Jason Kinnison of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule. The borrower was not disclosed.

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Conference CoverageIllinoisNews

NMHC Student Housing Conference Highlights Investment, Development and Operations

by Katie Sloan

Chicago — Executives from the off-campus student housing industry convened October 14-16 in Chicago at the Marriott Magnificent Mile for the National Multihousing Council’s Student Housing Conference. An estimated 600 were in attendance to hear sessions that ranged from development, operations, capital markets, investment sales and connectivity and bandwidth, among others. A research and economic outlook presentation kicked off the general sessions for the conference, following a few members-only sessions. A panel with chief executive and chief operating officers of leading student housing operators, owners and managers followed, moderated by Randy Churchey, …

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DevelopmentIllinoisNews

Opus Completes 14-Story Student Housing Building Adjacent to the University of Illinois at Urbana-Champaign

by Katie Sloan

Champaign, Ill. —The Opus Group has completed Seven07, a new student housing community located near the University of Illinois at Urbana-Champaign. The 14-story building is home to 218 units with 548 beds. Amenities include a fitness center, indoor basketball court, spa, lounge, café and study areas. The fourth-floor clubroom features pin ball machines, shuffle board and ping pong tables. The project was a joint venture between Opus and The Carlyle Group. Opus served as developer, design-builder, architect and structural engineer. Creative License was the interior designer. Asset Living will manage the …

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IllinoisNews

The Scion Group Launches Four Student Housing Community Brands

by Katie Sloan

Chicago — The Scion Group has launched four new brands of student housing communities designed to appeal to different student personalities and price points. The newly unveiled brands, as described by Scion, include:  Alight: these properties are designed for residents who are focused on working hard to achieve what they came to college to do. Lark: these communities are focused on the right amount of support and leisure. Redpoint: are designed for students with an independent streak. Redpoint properties are about space, with a focus on creating resident experiences that are open, inclusive …

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Company NewsIllinoisNews

Triad Real Estate Partners Hires James Clough as Managing Director

by Katie Sloan

Chicago — Triad Real Estate Partners has hired James Clough as managing director of the company’s Chicago office. Clough began his investment brokerage career at Marcus & Millichap and served as managing partner of Interra Realty before joining Triad. “We are thrilled to have James join our growing team here at Triad,” says Sean Lyons, partner at Triad. “James brings with him a depth of experience that is very difficult to find in this business along with trusted and meaningful relationships that he has built over two decades doing deals. …

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