New York

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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Jericho-Conversion

Jericho, N.Y. — PX4 Development has purchased an 80-room hotel in the Long Island community of Jericho with plans to convert the building into a student housing community with one-, two- and three-bedroom units. To that end, PX4 has secured a long-term lease with The New York Institute of Technology, which has campuses on both Manhattan and Long Island. The development team is aiming to have the building ready for occupancy in advance of the 2024 academic year. “This property, with our long-term lease to New York Tech, represents a …

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New York City — Hawkins Way Capital has completed a 1,355-bed student housing redevelopment project at 525 Lexington Ave. in Manhattan’s Midtown East neighborhood. Designed by Empire State Building architect Arthur Loomis Harmon, the 34-story building was originally constructed in 1923. Hawkins Way purchased the building in 2020, at which time it housed a Marriott-branded hotel that had recently ceased operations. The student housing community now offers 30,000 square feet of amenities, including a fitness center, laundry room, game room, performing arts studio, study rooms, community kitchen and lounges. FOUND …

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New York City — The Dot Group has announced its board of directors and appointed Joseph Manasseri to the role of chief operating officer. Manasseri most recently served as managing director of global asset management with GE Capital Real Estate. The board of directors acting alongside Manasseri includes Alec Burger, non-executive chair; Rick Pudner, non-executive director; Chantal Rickards OBE, non-executive director; CEO Nicholas Porter; CFO David Ransome; Nick Collins, chief legal officer; and Andrew Reid, general counsel and company secretary. “The caliber and track record of our board underlines our …

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Douglas-Sitt

New York City — Douglas Sitt has joined Vesper Holdings as executive vice president and head of capital markets. In his new role, Sitt will oversee the company’s investment and fundraising efforts, and manage its relationships with institutional investors and lenders. Sitt will work closely with Vesper’s acquisitions and asset management teams to identify and execute on new investment opportunities. Prior to joining the New York City-based firm, Sitt served as the co-head of student housing at Rittenhouse Realty. “We are thrilled to welcome Douglas to Vesper Holdings as our …

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Michael_Neeley

New York City — Global Student Accommodation (GSA) has hired Michael Neeley has asset management director. In his new role, Neely will be responsible for driving rehabilitation, reconfiguration and redevelopment activity across the company’s U.S. portfolio. Neeley will also work to identify value-add initiatives and transactions. Prior to joining GSA, Neeley served as director of investments and asset management at CA Ventures. “I’m delighted to have joined GSA and look forward to contributing to its continued success and growth,” says Neeley. “GSA has proven itself to a be leader in the …

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New York City — ButterflyMX, a provider of access control technology for multifamily, commercial and student housing properties, has partnered with RemoteLock. Through the partnership, the companies will offer the opportunity to replace traditional keyed access to apartment units and facilities with smartphone-based access points. The partnership will offer more than 80 different smart lock models. “We’re always looking for ways to expand our property access made simple philosophy for our customers,” says Aaron Rudenstine, CEO of New York City-based ButterflyMX. “RemoteLock is a trusted software provider that’s transformed the …

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Bentley-Hall

New York City and Austin, Texas — Blackstone Inc. has completed the previously announced acquisition of American Campus Communities (ACC) in a deal valued at $12.8 billion, including the assumption of debt. Austin, Texas-based ACC is the largest publicly traded owner, manager and developer of student housing in the United States.  New York City-based Blackstone will take the company private following the acquisition. This move comes as the price of public equity has been more expensive than private institutional capital over the past few years, according to Bill Bayless, co-founder …

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Cherry-Street

New York City — Pre-leasing velocity and rental rate growth for the upcoming academic year in student housing are exceeding pre-pandemic levels, according to Berkadia’s latest Student Housing: Pre-leasing Report 2022.  The report, which utilizes data from universities tracked by Axiometrics, shows that student housing properties across the country are 86.3 percent leased on average ahead of the 2022-2023 academic year. This is 6.5 percentage points higher than levels seen heading into the 2019-2020 academic year. Average rent per-bed is $771, with rents in communities less than .5 miles from …

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New York City — ButterflyMX has acquired cloud-based access control company CloudKeyz. The New York City-based company’s acquisition of CloudKeyz will provide existing and future clients with four access control devices. These devices fully integrate with ButterflyMX OS — its online operating system — allowing property owners and managers to remotely manage building access, integrate their property management software and smart locks, and create custom workflows to improve building operations from a smartphone or computer. These four new access control devices include IP security cameras, which provide full building visibility; gate …

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