Jericho, N.Y. — PX4 Development has completed a student housing project at 120 Jericho Turnpike near the New York Institute of Technology (NYIT) campus in Jericho. The property is leased to NYIT for use as a residence hall and is staffed by the university as well as resident assistants. Each unit has access to a private bathroom and is furnished with extra-large, twin-sized beds and mattresses, desks and desks chairs, armoires, a microwave and refrigerator. The community offers complimentary shuttles to and from campus and roommate matching services. The property opened …
New York
New York City — Jacob Kosior has joined technology firm EliseAI as vice president of client strategy. Kosior brings over 10 years of experience in the multifamily industry to the position. In his new role, he will leverage this experience to help the New York City-based firm build products for multifamily owners and operators. Kosior most recently served as vice president of centralized services at Cardinal Group Management.
Syracuse, N.Y. — A partnership between Landmark Properties and W5 Group has acquired a 2-acre site for the development of The Standard at Syracuse, a student housing project near Syracuse University in New York. The development will be located at 910 Madison St. in the city’s University Hill neighborhood. Upon completion, the community will offer over 600 beds across 210 units in studio through five-bedroom configurations. Each unit will be fully furnished and offer bed-to-bath parity. Shared amenities will include a 24-hour fitness center, sauna, study areas and a large outdoor …
The Jed Foundation Develops Suicide Postvention Guidebook for Off-Campus Student Housing
New York City — The Jed Foundation — in partnership with the College Student Mental Wellness Advocacy Coalition and Hi, How Are You Project (HHAYP) — has released an emergency preparedness guidebook for student housing managers on how to handle the sudden and tragic loss of a resident in a community. Titled Responding to Suicide: Postvention Guidance for Student Housing Managers, the guidebook offers protocols for engaging with law enforment; communicating with campus officials and the residential community; facilitating rapid support; memorializing the deceased; and planning for long-term and future approaches to prevention …
New York City — KKR has acquired a three-property purpose-built student housing portfolio located in the Copenhagen metropolitan area in Denmark. The properties were acquired from TPG Angelo Gordon for an undisclosed price. Completed in phases from 2020 to 2023, the communities offer a total of 494 units. The properties serve students attending a number of universities in Copenhagen, including the Copenhagen Business School. Keystone has been tapped to operate the properties. “We are delighted to announce this acquisition, which builds on our ambitions in Nordic real estate, following our recent investments …
New York City — Funds managed by KKR have agreed to acquire a 10,000-bed student housing portfolio from Blackstone Real Estate Income Trust Inc. (BREIT) for $1.6 billion. The portfolio consists of 19 properties located across 10 states in markets including Auburn, Alabama; Tempe, Arizona; Boulder, Colorado; State College, Pennsylvania; and Charlottesville and Petersburg, Virginia. Further details on the properties were not disclosed. The communities were acquired by BREIT through a joint venture with Greystar Real Estate Partners in 2018. The acquisition was announced in conjunction with Greystar’s larger $4.6 …
TSB Capital Advisors Arranges Refinancing for Twin River Commons Near SUNY Binghamton
Binghamton, N.Y. — TSB Capital Advisors has arranged the refinancing of Twin River Commons, a 371-bed student housing property located near the State University of New York (SUNY) at Binghamton campus in Binghamton. The floating-rate loan was secured on behalf of the borrower, Harrison Street. The community offers units in studio through four-bedroom configurations with bed-to-bath parity. Shared amenities include a state-of-the-art fitness center, complimentary Wi-Fi, clubhouse, fireplace lounge with billiards and games, package lockers and an outdoor courtyard and kitchen. Further details on the financing were not disclosed.
Aptitude Development Partners with Counslr to Offer Free Mental Health Support for Residents
Rochester and Ithaca, N.Y. and Conway, S.C. — Aptitude Development has partnered with mobile app Counslr to provide free mental health support for residents across the firm’s student housing portfolio. The partnership launched at three of Aptitude’s communities on the East Coast and will expand nationwide over the course of 2024. The first three communities to offer Counslr include The Marshall, serving students attending the Rochester Institute of Technology in New York; The Ithaca, serving students attending Ithaca College and Cornell University in New York; and The Pier, serving students attending Coastal …
New York City — A joint venture between Charney Cos. and Criterion Real Estate Capital has acquired 99 Claremont Avenue, a seven-story student housing community located in the Morningside Heights neighborhood of Manhattan. The new ownership plans to renovate the 92-year-old building, which rises seven stories. Madison Realty Capital provided a $55 million bridge loan for the acquisition and renovation of the community.
Syracuse, N.Y. — Syracuse University has announced plans to develop two new residence halls after a comprehensive three-year housing review. The first community will be developed at 700 Ostrom Ave. and will offer 450 beds upon completion. An undisclosed architect has been selected for the project with construction expected to begin this year. Further details on the development were not disclosed. The university congruently announced plans to demolish Marion Hall, Kimmel Hall and an existing dining enter on the corner of Comstock and Waverly avenues to make way for a …