News

John-Rabold

West Lafayette, Ind. — Granite Management has appointed John Rabold to the role of president. Rabold joined the West Lafayette, Indiana-based company five years ago and has worked various positions in sales, operations, marketing and accounting. “We’re thrilled to welcome John Rabold as president,” says CEO Brent Gutwein. “His diverse background and community commitment align with our growth vision. I’m confident in John’s ability to lead, innovate and enhance client relationships as we embark on this exciting chapter.”

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Tempe, Ariz. — An undisclosed buyer has acquired Sleep Inn, a 72-room hotel near the Arizona State University campus in Tempe, with plans to convert the property into student housing. The hotel will be transformed into a seven-story community offering 479 beds upon completion. Further details on the project were not disclosed. NewGen Advisory worked on the transaction. 

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Nine-East-33rd

Baltimore — Lument has provided a $64.6 million refinancing for Nine East 33rd, a 568-bed student housing property located near Johns Hopkins University’s Homewood campus in Baltimore. Tim Smits of Lument led the team in placing the loan through Freddie Mac’s capital markets execution program. The loan features a five-year, fixed-rate mortgage with interest only payments. The borrower in the transaction is HH Fund. Developed in 2016, the community offers one-, two-, three- and four-bedroom fully furnished units. 

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Mediplex-Albright

Reading, Pa. —MPG Impact Development, an affiliate of Mediplex Property Group, has completed a 365-bed student housing development located adjacent to the Albright College campus in Reading. The five-story community spans 135,000 square feet and offers suite-style units in single- and double-occupancy configurations. The property is master-leased to Albright College and offers lounge areas on each floor. 

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Social-28

Gainesville, Fla. — CBRE has brokered the sale of Social 28, a 592-bed student housing property located across the street from the University of Florida campus in Gainesville. Nimes Real Estate acquired the community and has partnered with Timberline Real Estate Ventures to begin repositioning efforts. CBRE National Student Housing’s Jaclyn Fitts, William Vonderfecht and Casey Schaefer represented the undisclosed seller in the transaction, in partnership with CBRE Jacksonville Multifamily. Located at 311 SW 13th St., Social 28 offers fully furnished units. Shared amenities include a fitness center with a …

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ACC

Austin, Texas — American Campus Communities (ACC) has announced a number of leadership promotions. Kimmy Kelley has been promoted to chief marketing officer. In her new position, Kelley will lead the Austin, Texas-based company’s leasing and marketing initiatives using data science, analysis and marketing technology, while serving as a driver in implementing the company’s technology roadmap. Jamie Wilhelm has been promoted to chief development officer. He will oversee ACC’s external development growth strategy, which encompasses all aspects of development, including the company’s public-private partnership business, construction management, development and strategic …

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Foundry

Ames, Iowa — ARTISAN Capital Group has acquired The Foundry, a 144-bed student housing community located near the Iowa State University campus in Ames. The community offers 53 units alongside shared amenities including a 24-hour fitness center, coffee bar, resident lounge, study and game rooms, bike storage and an underground parking garage. The property also features retail space leased to Starbucks Coffee, Potbelly Sandwich Shop and a campus apparel store. ARTISAN has tapped Haverkamp Properties to operate the community. The property was acquired from an undisclosed buyer and included the …

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Bethesda, Md. — Walker & Dunlop has been recognized as the largest Fannie Mae DUS (Delegated Underwriting and Servicing) lender by volume for last year, with $6.6 billion in multifamily originations in 2023. Additionally, Fannie Mae has named the Bethesda-based firm as the top producer for green financing and for student housing. Walker & Dunlop also took the third places amongst producers of multifamily affordable housing and as a producer for small loans. Freddie Mac also recognized Walker & Dunlop as the third biggest Optigo lender in 2023, with a …

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Sandy-Jack

Woodland Hills, Calif. — Nomadix has hired Sandy Jack to the role of director of strategic relations for multi-dwelling. Jack will lead the Woodland Hills, California-based company in increasing its multi-dwelling footprint. She previously held leadership roles at Ruckus Networks and Commscope. “Sandy Jack has a unique talent for translating technical concepts into business outcomes and she brings a proven track record of exceeding growth targets, delivering innovative solutions and influencing key decision makers,” says Mike Womack, vice president of partner sales at Nomadix. “As we continue growing our multi-dwelling …

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