Las Vegas — Pay Ready, a provider of automated resident recovery solutions, has acquired AI-driven rent collections company Buzz for an undisclosed price. The acquisition will integrate Las Vegas-based Pay Ready’s data foundation and infrastructure with Buzz’s specialized AI technology. “The promise of AI has always been enormous, but the real value comes from effectively translating insights into meaningful interactions and results,” says Lynn Musil, CEO of Pay Ready. “With Buzz’s AI models — specifically engineered and trained within the property management ecosystem — we’re now uniquely positioned to deliver smarter, …
Reno, Nev. — JLL Capital Markets has secured a refinancing for HERE Reno, a 636-bed student housing community located near the University of Nevada, Reno campus. JLL represented the borrower, Article Student Living, in arranging the three-year floating-rate financing with PPM America Inc. Built in 2022, HERE Reno offers fully furnished units in a mix of studio, one-, two-, three-, four- and five-bedroom configurations. Shared amenities include a 24-hour fitness center, study lounge with private rooms, hot tub, sun deck, coffee and breakfast bar, and a club room with a kitchen, …
Reno, Nev. — Northmarq has arranged a $78.5 million refinancing for The Dean Reno, a 773-bed student housing property located near the University of Nevada, Reno. Built in 2023, the community offers fully furnished units alongside shared amenities including a cyber lounge, fitness center, yoga studio and grilling stations. Justin Glasgow of Northmarq secured the financing through Heitman on behalf of the borrowers, GMH Communities and CRG. Terms of the financing were not released.
Atlanta — PeakMade Real Estate has been awarded management of 10 student housing communities totaling 6,500 beds. The company was also recently awarded management of four multifamily communities totaling 500 units. The properties are owned by 14 different companies and span nine states, including California, Georgia, Florida, Nevada, Pennsylvania, South Carolina, Texas and Virginia. Five of the student housing projects are currently under development. The portfolio includes Reflection, a student housing community located adjacent to the Georgia State University campus in Atlanta. Further details on the portfolio were not disclosed. …
Las Vegas — Ready Capital National Bridge team has closed on financing for the acquisition, conversion, renovation and stabilization of a 156-unit student housing property in the University District of Las Vegas. Upon acquisition, the undisclosed sponsor plans to reposition the asset from student housing to traditional multifamily through a rebranding and renovation program. Ready Capital closed the $29.6 million non-recourse, interest-only, floating-rate loan, which features a 36-month term and two extension options. Additionally, the loan includes a facility to provide future funding for capital expenditures.
Roanoke, Va. — University Housing Group (UHG) has sold three student housing communities located in Arkansas, Tennessee and Nevada. The three properties total 1,171 beds and serve students attending the University of Arkansas in Fayetteville; the University of Tennessee in Knoxville; and the University of Nevada, Reno. Providential Student Housing worked on behalf of Roanoke, Virginia-based UHG in the sale of the three communities. The buyer and terms of the transaction were undisclosed.
Reno, Nev. — A joint venture between MJW Investments and Artisan Capital has acquired a 508-bed student housing community located near the University of Nevada, Reno. Built in 2020, the property offers units with bed-to-bath parity alongside shared amenities including study rooms, a fitness center, lounge, game room, pet care station, rooftop courtyard and indoor bike and ski storage. Barings provided financing for the acquisition. “The property’s close proximity to the new developments on campus as well as the City of Reno’s economic development plan for the area are just …
Reno, Nev. — A joint venture between Canyon Partners Real Estate, GMH Communities and CRG has broken ground on Academy at Reno, a 755-bed student housing development located within a Qualified Opportunity Zone near the University of Nevada, Reno campus. The property will be the first high-rise student housing development in the Reno area, according to the joint venture. The partnership has secured a $75.2 million senior construction loan from Citizens and Nevada State Bank, and Canyon plans to contribute $36.2 million in equity for the development. The community will be located …
Reno, Nev. — Versity Investments has acquired Wolf Run, a 429-bed student housing community serving students attending the University of Nevada, Reno, for $59 million. The property consists of 17 one-, two- and three-story residential buildings alongside a two-story clubhouse and leasing office. The seller in the transaction was undisclosed. “Wolf Run proved itself in this market over a very difficult last 12 months,” says Brian Nelson, president of the Aliso Viejo, California-based company. “We believe the property’s location being two blocks from campus and fresh renovations had everything to …
Reno, Nev. — The University of Nevada, Reno has leased 836 beds of off-campus student housing for the 2020-2021 academic year. The university has leased 330 beds at Uncommon Reno, owned by CA Student Living; and 506 beds at Canyon Flats, owned by Canyon Flats III LLC and managed by Cardinal Group. The university experienced an explosion in July of last year, requiring two residence halls to be taken offline. Nye Hall is set to reopen in August 2020 and will offer 530 beds. Argenta Hall remains under construction and …
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