New York

Landmark-Cube-3-Architects

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 …

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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 …

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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 …

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Pattner-PQ

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 …

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Twin-River

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. 

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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 …

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99-Claremont

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. 

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Syracuse

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 …

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Astro-Apartments

Albany, N.Y. — KeyBank Real Estate Capital (KBREC) has secured an $11.1 million refinancing for Astro Apartments, a student housing community located near the State University of New York (SUNY) Albany campus on Washington Avenue. The garden-style property offers fully furnished units in studio, one- and two-bedroom configurations. Built in 1998, the complex is situated on 2.4 acres and is composed of two three-story buildings. Dirk Falardeau and Mark Flanders of KBREC’s commercial mortgage group structured the Freddie Mac, fixed-rate financing. The borrower in the transaction was not disclosed. 

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Simon-Bray-©_Thomas_Graham

New York City — Global Student Accommodation (GSA) has appointed Simon Bray to the role of global head of finance. In his new position, Bray will play a pivotal role in implementing the company’s global growth strategy. He will be responsible for the finance, fund control, tax, people and culture, treasury and risk and compliance functions of the company, which has offices in London and New York City. Bray most recently spent eight years in senior roles at BNP Paribas in Ireland, including chief executive officer. “Simon is a fantastic …

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