State College, Pa. — GREA has brokered the sale of a 273-bed off-campus student housing portfolio located near the Pennsylvania State University campus in State College. The portfolio includes Lenwood Place, offering 57 beds at 917 S. Allen St.; Mt. Nittany Apartments, offering 55 beds at 1006 S Pugh St.; Allen Park Apartments, offering 108 beds at 1013 South Allen St.; and College Park, offering 53 beds at 415 West College Ave. GREA also sourced acquisition financing for the buyer, a joint venture between Ethos Residential and Continental Real Estate Management. …
Pennsylvania
Philadelphia — Campus Apartments has promoted Helen Marshall to the role of chief people officer. She joined the Philadelphia-based firm in 2002 and was appointed to the position of vice president of human resources in 2007. In her new role, Marshall will continue to lead the firm’s human resources department with an increased focus on enhancing employee engagement and wellbeing. “Helen’s leadership is defined by her empathy, authenticity and unwavering commitment to our people,” says Daniel Bernstein, president and chief investment officer. “Her vision, coupled with her ability to foster meaningful …
Philadelphia — Campus Apartments has announced several leadership promotions across its investment, asset management and operations verticals. Andrew Roth has been promoted to senior vice president of investments; Scott Caliguire has been promoted to associate vice president of asset management; and Cara Castelli has been named vice president of operations. “These promotions reflect the exceptional leadership, drive and dedication that Andrew, Scott and Cara bring to Campus,” says Daniel Bernstein, president and chief investment officer with the Philadelphia-based firm. “We are proud to recognize their contributions as we continue expanding our …
Newtown Square, Pa. — GMH Communities has named Toby Booker as vice president of development. In his new role, Booker will lead business development efforts for on-campus housing, working closely with universities to identify opportunities and drive strategic growth. He brings over 24 years of experience in public-private partnerships and real estate development to the role within the Newtown Square, Pennsylvania-based firm. Booker has previously held leadership roles at The Michaels Organization, Corvias Group and Balfour Beatty Investments.
Chicago and New York City — A joint venture between Chicago-based Blue Vista Capital Management and New York City-based Clarion Partners has acquired a four-property student housing portfolio totaling 2,787 beds. Columbus Pacific Group sold the properties for an undisclosed price. The acquisition included two adjacent student housing communities offering a total of 1,124 beds near the Pennsylvania State University campus in University Park; a 309-bed community serving students attending the College of Charleston in South Carolina; and a 1,354-bed property located near the Texas A&M University campus in College Station. …
BridgeInvest Provides $84.3 Million Refinancing for Two Student Housing Properties in Pennsylvania, South Carolina
Philadelphia and Columbia, S.C. — BridgeInvest has provided loans totaling $84.3 million for the refinancing of two student housing communities in Pennsylvania and South Carolina. The borrowers in both transactions were not disclosed. The Avery, a 241,000-square-foot community offering 796 beds near Temple University in Philadelphia, received a $54.3 million refinancing. The property was updated in 2021 and features three ground floor retail spaces, two of which are occupied by Fat Shack and Jimmy John’s. The Rowan, a townhome-style community located near the University of South Carolina’s Williams-Brice football stadium, received …
Walker & Dunlop Provides $285.5 Million Refinancing for Two Student Housing Properties at Temple University in Philadelphia
Philadelphia — Walker & Dunlop Inc. has provided a $285.5 million loan for the refinancing of Vantage and The View at Montgomery, two student housing properties located on Temple University’s campus in Philadelphia. The Class A communities total 1,816 beds. Completed in 2019, Vantage rises 19 stories with 368 units. The property features more than 30,000 square feet of amenity space, retail offerings and floor plans ranging from studios to four bedrooms. Opened in 2014, The View at Montgomery includes 238 units and is located in the center of Temple University’s …
State College, Pa. — Berkadia has brokered the $24.5 million sale of Blue Course Commons, a student housing property located near the Penn State University campus in State College. Matthew Stefanski, Zachary Pierce, Maura Spellman, Kevin Larimer and Brandon Buell of Berkadia represented the seller, College Town Communities, in the disposition of the property to Pennsbury Capital. Located at 446 Blue Course Drive, the community offers units in townhome configurations and was 100 percent occupied at the time of sale.
MPG Impact Development Completes 365-Bed Student Housing Property Near Albright College
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.
Atlanta — PeakMade Real Estate has been awarded management of 10 student housing communities totaling 6,500 beds. The company was also recently awarded management of four multifamily communities totaling 500 units. The properties are owned by 14 different companies and span nine states, including California, Georgia, Florida, Nevada, Pennsylvania, South Carolina, Texas and Virginia. Five of the student housing projects are currently under development. The portfolio includes Reflection, a student housing community located adjacent to the Georgia State University campus in Atlanta. Further details on the portfolio were not disclosed. …