North Carolina

The Preiss Co. Promotes John Preiss to President

by Katie Sloan May 17, 2022

Raleigh, N.C. — The Preiss Co. (TPCO) has promoted John Preiss to president. In his new role, Preiss will oversee executive leadership and foster the company’s growth in both the student and conventional multifamily sectors. Since joining the company in 1998, Preiss has held roles including broker, vice president, executive vice president of new business development and chief investment officer. Founder Donna Preiss will continue in her role as CEO of TPCO. “Having played an integral role in making our company what it is today, John has demonstrated time and …

May 17, 2022

Investment Sales News North Carolina Tennessee

Realco Capital Sells Two Student Housing Communities in Tennessee, North Carolina

by Katie Sloan May 11, 2022

Knoxville, Tenn. and Greenville, N.C. — Realco Capital Partners (RCP) has sold two student housing communities totaling 1,350 beds. Dispositions include Quarry Trail, serving students attending the University of Tennessee in Knoxville; and Carolina Creek, located near East Carolina University in Greenville. Quarry Trail offers a mix of one-, two-, three- and four-bedroom units. Shared amenities at the property include three resort-style swimming pools, a state-of-the-art fitness center, shuttle service to campus, study areas and a dog park. Carolina Creek offers three-bedroom units with bed-to-bath parity. Shared amenities include a …

May 11, 2022

Development News North Carolina On-campus

Corvias Completes Three Residential Buildings at North Carolina Central University

by Katie Sloan May 10, 2022

Durham, N.C. — Corvias has completed the development of three residential buildings totaling 3,300 beds for students and residence life staff at North Carolina Central University in Durham. The project includes the George Street Residential Complex, offering semi-suite units for first- and second-year students; the Lawson Street Residential Complex, offering apartment-style units for upper division students alongside a 7,300-square-foot dining facility; and Alston Avenue Apartments, which features four-bedroom units with two bathrooms and full kitchens. Shared amenities at Alston Avenue include a computer station, multi-purpose room and lounges. The development …

May 10, 2022

Investment Sales News North Carolina

CREI Sells 246-Bed Community Serving Students Attending East Carolina University

by Katie Sloan May 3, 2022

Greenville, N.C. — Capstone Real Estate Investments (CREI) has sold University Park Apartments, a 246-bed community serving students attending East Carolina University in Greenville, to Keystone Management Co. The property was originally acquired by CREI in 2015 and underwent significant renovations at that time. The community offers one- and two-bedroom units alongside shared amenities including a swimming pool and sundeck, gated dog park, grilling station, fire pit and bike storage.

May 3, 2022

Arkansas Illinois News North Carolina Tennessee Texas

Newmark Brokers Sale of Four-Property Student Housing Portfolio Across Southeast, Illinois

by Katie Sloan April 4, 2022

Austin, Texas — Newmark has brokered the sale of a four-property portfolio of mid-rise student housing properties totaling 1,441 beds. The properties are situated adjacent to public universities in the Southeast and Illinois. Ryan Lang, Jack Brett, Ben Harkrider, Tim McKay, Debra Corson, Blake Pera and Dean Smith of Newmark represented the seller, Rael Corp., in the transaction. The sales price and the buyer were not disclosed. The properties include Gather Illinois, which is located near the University of Illinois at 410 North Lincoln Ave. in Urbana, Illinois; Gather Uptown …

April 4, 2022

Arkansas Investment Sales News North Carolina

GSA, Fund Managed by Morgan Stanley Acquire 1,450-Bed Student Housing Portfolio

by Katie Sloan February 16, 2022

Greenville, N.C. and Fayetteville, Ark. — Global Student Accommodation (GSA), through its joint venture with a fund managed by Morgan Stanley, has acquired a four-property student housing portfolio from Rael Development Corp. The 1,450 bed portfolio includes Gather Uptown, a 404-bed student housing property located adjacent to East Carolina University in Greenville, North Carolina; and Gather Dickson, a 238-bed community located near the University of Arkansas. Details on the remaining two properties were undisclosed. The communities will be re-branded and managed by GSA’s operating partner, Yugo.

February 16, 2022

Finance New York News North Carolina

Berkadia Secures Preferred Equity Partner for Recapitalization of 1,350-Bed Student Housing Portfolio

by Katie Sloan February 16, 2022

Rochester and Buffalo, N.Y. and Wilmington, N.C. — Berkadia has secured a preferred equity partner for the recapitalization of a 1,350-bed student housing portfolio owned by OC Ventures. The properties are located in Rochester and Buffalo, New York, as well as Wilmington, North Carolina. Chinmay Bhatt, Noam Franklin, Cody Kirkpatrick, and Matthew Tu of Berkadia Joint Venture Equity & Structured Capital secured the undisclosed private equity partner on behalf of the borrower. All of the communities will be managed by Varsity Campus.

February 16, 2022

Investment Sales News North Carolina

Coldwell Banker Negotiates $10.3 Million Sale of Six Student Housing Properties in Charlotte

by Katie Sloan January 31, 2022

Charlotte, N.C. — Coldwell Banker Commercial MECA has negotiated the $10.3 million sale of six student housing properties in Charlotte. Bob Clay and Eric Clay of Coldwell Banker represented the undisclosed seller in the transaction. The buyer was also not disclosed. The six properties are located near the University of North Carolina at Charlotte and have a total of 196 beds in a mix of condominiums and townhomes. The properties include University Terrace (10 units and 40 beds), University Terrace North (21 units and 84 beds), Colville Gardens (15 units …

January 31, 2022

Investment Sales News North Carolina

Lucern Capital Acquires Two Student Housing Properties in North Carolina for Multifamily Conversion

by Katie Sloan January 25, 2022

Wilmington, N.C. — Lucern Capital Partners, through its Lucern Multifamily Value Fund I L.P., has acquired two student housing communities located near the University of North Carolina Wilmington. The acquired properties — Camden Forest Apartments and Wilshire Landing Apartments — are set for conversion into traditional multifamily. Planned improvements to the communities include unit interior renovations and the addition of new shared amenities.

January 25, 2022

Investment Sales News North Carolina

The Preiss Co., Township Capital Recapitalize 425-Bed Community Near East Carolina University

by Katie Sloan November 10, 2021

Greenville, N.C. — The Preiss Co. (TPCO), in partnership with Township Capital, has recapitalized Eastern on 10th, a 425-bed student housing community located near East Carolina University in Greenville. The garden-style property was developed in 2018 and offers one-, two- and three-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, 24-hour fitness center, clubhouse, lounge areas, a self-serve coffee bar, gaming area, study lounge and cyber cafe. “Re-capitalizing this well-located student housing complex fits in to our strategy to develop Class A student housing located …

November 10, 2021

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