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Junction-49_Charlotte-N.C
FinanceNewsNorth Carolina

Cushman & Wakefield Arranges $77 Million Refinancing for Community Near UNC Charlotte

by Katie Sloan

Charlotte, N.C. — Cushman & Wakefield has arranged $77 million in refinancing for Junction 49, a newly developed student housing community serving the University of North Carolina at Charlotte (UNC Charlotte). Gideon Gil, Zach Kraft, Dale Braverman and Travis Prince of Cushman & Wakefield represented the borrowers, SR Real Estate Partners and Circle Squared Alternative Investments, in securing the loan. Macquarie Capital Principal Finance provided the financing. Located at 7600 University City Blvd., the 370,883-square-foot property totals 754 beds and 12,396 square feet of amenity space. Junction 49 features private and …

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Hub-Raleigh
DevelopmentNewsNorth Carolina

Construction Underway on 2,195-Bed Student Housing Development Near North Carolina State

by Katie Sloan

Raleigh, N.C. — Construction is underway on Hub Raleigh, a 2,195-bed student housing development located at 111 Cox Ave. near the North Carolina State University campus in Raleigh. The nearly 1 million-square-foot project is being developed by a joint venture between Core Spaces and TPG Real Estate and is scheduled for completion ahead of the 2026-2027 academic year.  The 12-story building will offer a mix of studio through four-bedroom fully furnished units. The property will feature over 40,000 square feet of indoor and outdoor amenity space, including a resort-style swimming pool and …

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Company NewsNewsNorth Carolina

Postal Solutions to Manage Daily Mail, Package Delivery for 110,000 Beds

by Katie Sloan

Raleigh, N.C. — The mail management division of Raleigh-based Postal Solutions has reached the milestone of managing daily mail and package delivery outsourcing for over 110,000 beds per-day as it begins its 25th year of business. “We’re thrilled to reach this milestone as we celebrate 25 years and are incredibly appreciative of our student housing and conventional multifamily clients’ support over the decades,” says Craig Meddin, founder and CEO of Postal Solutions. “Being a customer service focused company has been the most important factor in our long history of growth. With …

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Cottages-Boone
Investment SalesNewsNorth Carolina

CBRE Brokers Sale of 894-Bed Community Near Appalachian State University

by Katie Sloan

Boone, N.C. — CBRE has brokered the sale of The Cottages of Boone, an 894-bed student housing community located near the Appalachian State University campus in Boone. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE’s national student housing team, in partnership with Kevin Kempf of the company’s Southeast multifamily group, represented the seller, Mapletree Global Student Accommodation Private Trust, in the transaction. Timberline Real Estate Ventures and a real estate fund managed by Ares Management acquired the property for an undisclosed price. The cottage-style community offers shared amenities including a …

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East-Village
NewsNorth CarolinaOperations

The Preiss Co. Awarded Management of Seven Communities in North Carolina, Texas 

by Katie Sloan

Raleigh, N.C. — The Preiss Co. (TPCO) has been awarded management of seven communities in North Carolina and Texas. New assignments include the 732-bed East Village and 96-bed Blue Hill Apartments communities, both located in Charlotte; The Lookout, a 48-bed property located in Chapel Hill, North Carolina; Madera, a 504-bed community located in San Antonio; The Province, a 696-bed development located in Greensboro, North Carolina; Green Spring Apartments, a 52-bed property located in San Marcos, Texas; and Sparq on Rio, a 388-bed community located in Austin, Texas. The Raleigh, North …

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mike-hung
Company NewsNewsNorth Carolina

Subtext Launches Acquisitions Vertical, Appoints Mike Hung as Partner and Executive Vice President

by Katie Sloan

Charlotte, N.C. — Student housing development firm Subtext has launched a new acquisitions vertical as part of the company’s strategic expansion. The company has selected Mike Hung to spearhead the initiative, holding the role of partner and executive vice president of acquisitions. Based in Charlotte, North Carolina, Hung brings over 15 years of experience in the real estate sector to the role. He previously served as a member of the executive team of CA Ventures’ student housing platform. Prior to joining Subtext, he founded Citrine Partners, a multifamily investment shop …

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DevelopmentNewsNorth Carolina

Stratus Development Breaks Ground on 153-Bed Development Near Wake Forest University

by Katie Sloan

Winston-Salem, N.C. — Stratus Development Group has broken ground on The Haven at Wake, a 153-bed development located near the Wake Forest University campus in Winston-Salem. The community will offer a mix of two-, three- and four-bedroom units with bed-to-bath parity. Located at 450 Polo Road, the project is 1/2 mile from the Wake Forest campus. Shared amenities will include parking, a swimming pool and sundeck, clubhouse, study rooms, fitness facilities, community green space and a dog park. A timeline for the project was not announced. 

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DevelopmentNewsNorth CarolinaOn-campus

Public-Private Partnership to Develop 156-Unit Employee Housing Project at Appalachian State University

by Katie Sloan

Boone, N.C. — A public-private partnership between Harrison Street, Radnor Property Group and Appalachian State University has announced plans for an employee housing project on the university’s campus in Boone. The development will be composed of five buildings offering 156 units in one-, two- and three-bedroom configurations. The community is expected for completion in 2025. Financing for the development will be provided through a 501c3 ownership structure, which is being utilized to enhance affordability. The community will be part of the university’s multi-phase Innovation District development. Subsequent phases of development …

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Company NewsNewsNorth Carolina

The Preiss Co. Announces Multiple Property Management Team Promotions

by Katie Sloan

Raleigh, N.C. — The Preiss Co. (TPCO) has announced several promotions across the company’s property management platform. Sara Clark has been promoted to executive vice president of property management. In her new position, Clark will be responsible for overall property management operations, and will provide direct oversight to strategic assets and partnerships. Prior to her promotion, Clark most recently served as vice president.  Chloe Rasmussen has been promoted to vice president of property management. Prior to her promotion, Rasmussen directly oversaw the company’s properties in Raleigh and its conventional multifamily …

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FinanceNewsNorth Carolina

The Preiss Co. Recapitalizes 546-Bed Community Near North Carolina State

by Katie Sloan

Raleigh, N.C. — The Preiss Co. has recapitalized Campus Edge, a 546-bed student housing community located near North Carolina State University’s Centennial Campus in Raleigh. Preiss is set to begin a multi-million dollar improvement plan at the property imminently, which will include upgrading cabinets; the addition of granite countertops; furniture updates; refreshed flooring and appliances in apartments; updated landscaping; and clubhouse swimming pool improvements. “We are excited to keep Campus Edge under the Preiss umbrella,” says John Revington, executive vice president of investments. “Historically, this student apartment complex has been …

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