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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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DevelopmentNewsOn-campusPennsylvania

Lehigh University, Greystar Open 426-Bed Residence Hall

by Katie Sloan

Bethlehem, Pa. — A public-private partnership between Lehigh University and Greystar has opened SouthSide Commons, a 426-bed residence hall located on the university’s campus in Bethlehem. The community offers studio, two-, three- and four-bedroom, fully furnished units. “SouthSide Commons is an important addition to the campus, enhancing the options available to students to have an enriching residential experience throughout their time at Lehigh,” says John Simon, president of Lehigh University. “With its proximity to the SouthSide business district this new modern facility will also continue to strengthen ties between the …

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DevelopmentNewsOff-campusPennsylvania

Pinecrest, Cardinal Group Complete 473-Bed Student Housing Community in Pittsburgh

by Katie Sloan

Pittsburgh, Pa. — A joint venture between Pinecrest and Cardinal Group Companies has completed construction on The Bridge on Forbes, a 473-bed student housing community located in the Oakland neighborhood of Pittsburgh. The property will serve students attending the University of Pittsburgh, Carnegie Mellon University and Carlow University. The community offers studio-, one-, two- and three-bedroom, fully furnished units. Shared amenities include a 24-hour fitness center overlooking the city, an outdoor deck with grilling stations and fire pits, collaboration rooms, a coffee bar and lounge and retail space occupied by …

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Investment SalesNewsPennsylvania

Rittenhouse Realty Arranges $21.4 Million Sale of Student Housing Portfolio Near Lehigh University

by Katie Sloan

Bethlehem, Pa. — Rittenhouse Realty Advisors has arranged the $21.4 million sale of a student housing portfolio near Lehigh University in Bethlehem. The portfolio consists of 44 properties totaling 219 beds. The buyer in the transaction was an undisclosed family office new to the student housing market. Brad Domenico of Progress Capital secured $16 million in acquisition financing on behalf of the buyer through Ladder Capital. The seller was undisclosed.

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DevelopmentNewsOn-campusPennsylvania

P3 to Break Ground on 165-Bed Mixed-Use Development at Lafayette College

by Katie Sloan

Easton, Pa. — A public-private partnership between Radnor Property Group, Harrison Street Real Estate Capital and Lafayette College is set to break ground on a 165-bed mixed-use development on the university’s campus in Easton. The project will offer two-, three- and four-bedroom units. The ground floor of the development will be home to a student bookstore, a diner, retail offerings and amenities including outdoor spaces, communal lounges and study spaces. Capstone On-Campus Management has been tapped to manage and maintain the property once it opens in fall 2020.

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