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230-Fairhill
DevelopmentFinanceNewsPennsylvania

Rittenhouse Capital Secures $23.3 Million Construction Financing for 264-Bed Community Near Penn State Abington

by Katie Sloan

Willow Grove, Pa. — Rittenhouse Capital Advisors has secured $23.3 million in construction financing for a 264-bed student housing development near the Penn State Abington Campus in Willow Grove. The financing was sourced through a regional bank on behalf of developer College Town Communities. The community will offer 132 fully furnished, two-bedroom units. Shared amenities will include a fitness center, business center, café, media lounge, secure mail and package storage and a pool. Delivery of the project is scheduled for June 2022. 

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Here-State-College
Investment SalesNewsPennsylvania

University Partners Acquires 755-Bed Community Near Pennsylvania State University

by Katie Sloan

State College, Pa. — University Partners has acquired HERE, a 755-bed student housing community located near the Pennsylvania State University campus in State College. The property was built in 2020 and offers one-, two- , three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities include 30,000 square feet of retail space; private study rooms; a penthouse sky lounge with a kitchen and deck; and a spa with a hot tub and sauna. “Our market-first, data-driven approach to investing led us to target the Penn State market for several years …

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230-Fairhill
DevelopmentInvestment SalesNewsPennsylvania

College Town Communities to Develop 132-Unit Student Housing Property Near Penn State Abington

by Katie Sloan

Willow Grove, Pa. — College Town Communities is set to break ground on a 132-unit student housing development near the Penn State Abington campus in Willow Grove. The 4-acre development site, located at 230 Fairhill Street, was recently acquired from Fairhill Properties for $2.5 million. Chris Pennington of Binswanger Commercial Real Estate Services brokered the transaction. The new development will offer fully furnished two-bedroom units alongside communal amenities including a state-of-the-art clubhouse, fitness center, business center, cafe, media lounge and a resort-style swimming pool. Groundbreaking is scheduled for spring of …

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Investment SalesNewsPennsylvania

Rittenhouse Arranges Sale of 272-Bed Student Housing Portfolio in Philadelphia

by Katie Sloan

Philadelphia — Rittenhouse Realty Advisors has arranged the sale of a 272-bed student housing portfolio in Philadelphia. The portfolio consists of five buildings totaling 106 units that serve the University of Pennsylvania, Drexel University and Temple University. The portfolio features a mix of newly constructed buildings and value-add assets. The buyer and seller were not disclosed.

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Investment SalesNewsPennsylvania

MultiVersity Housing Partners Acquires Union on 5th in Pittsburgh

by Katie Sloan

Pittsburgh — MultiVersity Housing Partners has acquired Union on 5th, a student housing community located near Duquesne University and the University of Pittsburgh, for an undisclosed price. The property offers two- and three-bedroom, fully furnished units. Renovations are planned for the property and will include a redesign of the lobby; the relocation of the office and leasing area; the addition of study space; hallway renovations; the construction of additional beds; and the addition of a Luxer One package locker system. MultiVersity Property Management (MVPM) will oversee renovations and has been …

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DevelopmentNewsPennsylvania

Toll Brothers to Open Phase I of 1,093-Bed Development Near Pennsylvania State University

by Katie Sloan

State College, Pa. — Toll Brothers Campus Living is set to open Phase I of The Yards at Old State, a 1,093-bed student housing development located near Pennsylvania State University in State College. The first phase of development will include 164 fully-furnished, cottage-style units. Shared amenities will include a 21,000-square-foot clubhouse, resort-style swimming pool with hot tubs, an indoor basketball court, a state-of-the-art fitness center and group and private study spaces. Phase I is set to open in summer 2020. 

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NewsOperationsPennsylvania

MultiVersity Awarded Management of 632-Bed Community Near Slippery Rock University

by Katie Sloan

Slippery Rock, Pa. — MultiVersity Property Management has been awarded management of University Village at Slippery Rock, a 632-bed student housing community located near Slippery Rock University in Pennsylvania. The community offers two- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, tanning rooms, an outdoor kitchen, a clubhouse and fitness center. The property is set to undergo renovations including the addition of premium furniture packages, updating interior lighting, the addition of USB port outlets and improvements to kitchen hardware.

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Company NewsNewsPennsylvania

Brian Thompson Launches Marker Investments

by Katie Sloan

Philadelphia — Brian Thompson, formerly with CA Ventures and Harrison Street, has launched Marker Investments. Thompson will leverage his nearly 20 years of experience in the student housing industry to lead the Marker Investments team, which will specialize in the acquisition and management of off-campus student housing. “Having worked for some of the most highly respected and active developers, operators and equity investors in the student housing sector, it was only a natural progression for me to apply everything that I’ve learned to the creation of my own firm,” says …

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AlabamaArizonaDevelopmentFloridaIllinoisNewsNorth CarolinaOff-campusPennsylvaniaTexas

Landmark Properties Opens Nine Communities Totaling $950 Million

by Katie Sloan

Athens, Ga. — Landmark Properties has opened nine new student housing developments valued in excess of $950 million. The new deliveries total 6,166 beds and are located in North Carolina, Arizona, Alabama, Texas, Illinois, Florida and Pennsylvania. Openings include:  The Station at Raleigh, a 658-bed, cottage-style community serving students at North Carolina State University in Raleigh. The property offers one-, three- and four-bedroom units. Shared amenities include a 10,500-square-foot clubhouse, resort-style swimming pool, hot tub, 24-hour fitness center, sauna, study lounge, computer lab, yoga studio, sand volleyball court and an …

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DevelopmentFloridaIllinoisIndianaIowaNewsOff-campusOhioPennsylvania

CA Student Living Opening Six Communities Totaling $550 Million

by Katie Sloan

Chicago — CA Student Living, the student housing investment and development arm of CA Ventures, is opening six student housing communities this fall valued in excess of $550 million. The properties — which offer more than 3,000 beds — are located in Florida, Indiana, Illinois, Iowa, Ohio and Pennsylvania. New openings include: Identity Miami, a 621-bed student housing community located three blocks from the Florida International University campus in Miami. The property offers one-, two-, three- and four-bedroom units. Shared amenities include a shuttle to campus; a 24-hour fitness and …

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