Pennsylvania

Landmark Properties to Develop 909-Bed Community in Philadelphia’s University City

by Katie Sloan January 13, 2023

Philadelphia — Landmark Properties has announced plans to develop The Mark Philadelphia, a 909-bed student housing project located at 3615 Chestnut St. in Philadelphia’s University City district. The community will offer studio to six-bedroom, fully furnished units near the University of Pennsylvania and Drexel University campuses. Shared amenities at the 34-story tower will include a rooftop swimming pool and hot tub with lounge space overlooking the Philadelphia skyline; 24-hour study lounges; a computer lab; sauna; 24-hour fitness center; and reserved parking for an additional fee. The development will also include …

January 13, 2023

Development News On-campus Pennsylvania

Public-Private Partnership to Break Ground on 556-Bed Community at Duquesne University

by Katie Sloan January 4, 2023

Pittsburgh — Duquesne University, in a public-private partnership with Harrison Street and Radnor Property Group, has announced plans to develop a 556-bed residence hall. The community will be located on Forbes Avenue within the university’s campus in Pittsburgh. The 11-story building will feature bicycle parking, a fitness area and outdoor courtyards accessible to residents, students attending the university and the greater Pittsburgh community. The development is targeting upperclassmen and graduate students, and will offer 216 apartment units upon completion. “We are excited to be able to offer an additional, vibrant …

January 4, 2023

Development News On-campus Pennsylvania

Pittsburgh Planning Commission Approves Residence Hall Development at Duquesne University

by Katie Sloan November 30, 2022

Pittsburgh — The Pittsburgh City Planning Commission has approved plans for a residence hall development on Forbes Avenue at Duquesne University, according to reports by the Pittsburgh Post Gazette. The presentation shown to the Planning Commission lists developer Radnor Property Group, Design Collective and Indovina Associates Architects as partners on the project, which is targeting LEED certification. Reports from the Gazette note that the project will be 12 stories offering approximately 550 beds. The development will be part of decade-long institutional plan, which was approved by city officials earlier this year. …

November 30, 2022

Company News News Pennsylvania

Campus Apartments, Esusu Partner to Offer Wealth-Building Opportunities to Students

by Katie Sloan September 28, 2022

Philadelphia — Campus Apartments has announced a partnership with Esusu, a financial technology company that leverages rent reporting for credit building. Esusu reports rent payments to three major credit bureaus — Equifax, Transunion and Experian — to establish and boost credit scores. The company’s platform will be offered across Philadelphia-based Campus Apartments full portfolio. “Esusu’s inspiring mission and innovative approach to helping students build their credit profile makes for a natural partnership with Campus Apartments, a company that prides itself in delivering solutions that create positive impact all around,’’ says …

September 28, 2022

Investment Sales News Pennsylvania

MultiVersity Housing Partners Sells Student Housing Property Near Slippery Rock University

by Katie Sloan August 3, 2022

Slippery Rock, Pa. — MultiVersity Housing Partners (MVHP) has sold University Village at Slippery Rock for an undisclosed price. The community serves students attending Slippery Rock University of Pennsylvania and was acquired by MVHP in August 2010 through a federal 363-bankruptcy sale. The property underwent $3.5 million in capital expenditures over the course of the company’s 12-year hold, including renovations to units, the addition of a resort-style swimming pool and enhancements to the clubhouse and amenity spaces. The community offers two- and four-bedroom fully furnished units alongside additional shared amenities including …

August 3, 2022

Investment Sales News Pennsylvania

Rittenhouse Realty Advisors Arranges $87 Million Sale of 295-Bed Community Near the University of Pennsylvania

by Katie Sloan July 12, 2022

Philadelphia — Rittenhouse Realty Advisors (RRA), a member of GREA, has arranged the $87 million sale of Hamilton Court, a 295-bed student housing community located in Philadelphia’s University City neighborhood. The property offers 103 units to students attending the University of Pennsylvania alongside 21,400 square feet of ground floor retail space. Shared amenities include a fitness center, laundry facilities and a rooftop amenity space including a swimming pool and hot tub, sun deck, grilling stations and a dining area. RRA represented the seller, Post Brothers, in the disposition. Post Brothers …

July 12, 2022

Investment Sales News Pennsylvania

Rittenhouse Realty Brokers $23.5 Million Sale of 350-Bed Community Near Temple University

by Katie Sloan May 25, 2022

Philadelphia — Rittenhouse Realty Advisors (RRA), a member of GREA, has brokered the $23.5 million sale of Diamond Green, a 350-bed student housing community located near Temple University in Philadelphia. The 92-unit property was built by Orens Brothers Real Estate using modular construction. The community features six retail spaces on the ground floor and a 28-stall parking garage. Apex Student Living, a joint venture between Alexandra Capital and Axela Group, acquired the property. “We are seeing record performance in student housing in terms of pre-lease velocity and rent growth, which …

May 25, 2022

Development News On-campus Pennsylvania

Greystar, University of Pennsylvania Begin Mixed-Use Redevelopment of Existing Residence Hall

by Katie Sloan April 13, 2022

Philadelphia — Greystar Real Estate Partners has broken ground on the redevelopment of Sansom Place East residence hall, located at 3600 Chestnut St. on the University of Pennsylvania’s campus in Philadelphia. The project is being built through a public-private partnership with the university, and will offer 588 beds upon completion. The community’s 473 units will be fully furnished and offer bed-to-bath parity. Shared amenities are set to include a fitness center, co-working lounges, a test kitchen, study rooms and large multi-function space. The existing building was built in 1970 and …

April 13, 2022

Finance News Pennsylvania

Campus Apartments Receives $402.6 Million Refinancing, Acquisition Loan

by Katie Sloan March 21, 2022

Philadelphia — Campus Apartments has received $402.6 million for the refinancing of a 19-property student housing portfolio and the acquisition of one student housing community, which collectively total 9,332 beds. The financing was provided by KeyBank and includes a non-recourse Fannie Mae Credit Facility with a 10-year interest-only period secured by 17 undisclosed student housing communities; $18.9 million in refinancing for two communities in Statesboro, Georgia, and Lafayette, Louisiana; and $29.3 million in acquisition financing for The Hudson, a student housing property located near Georgia Southern University in Statesboro. Steven Hamm and …

March 21, 2022

Finance News Pennsylvania

iBorrow Provides $52 Million Financing for 798-Bed Community Near Temple University

by Katie Sloan February 16, 2022

Philadelphia — iBorrow provides $52 million financing for The Edge Student Village, a 798-bed student housing community located near Temple University in Philadelphia. The financing will be used for upgrades to the property, as well as strategic market repositioning. The borrower in the transaction and further details on planned renovations were undisclosed.

February 16, 2022

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