Amherst and Rochester, N.Y. — OC Ventures has sold two student housing properties located in the Upstate New York communities of Amherst and Rochester for $90 million. Dispositions include The Hill at Rochester, a 362-bed community located at 24 Fairwood Drive near the Rochester Institute of Technology and the University of Rochester; and Block20, a 640-bed property located at 100 Herron Drive in Amherst near the University at Buffalo. GREA brokered the acquisition of the properties by BDC Holdings. PeakMade Real Estate has been awarded management of the properties following the …
Operations
Atlanta — PeakMade Real Estate has been awarded management of eight student housing communities totaling 5,400 beds over the past 60 days. The undisclosed properties are located in Springfield, Missouri; Big Rapids, Michigan; Indianapolis; College Station, Texas; Charleston, South Carolina; State College, Pennsylvania; and Sacramento, California. Each community offers fully furnished units with private bedrooms. “This remarkable growth reflects the unwavering dedication and exceptional drive of the entire PeakMade team,” says Mark Winkelmann, vice president of client services with the Atlanta-based firm. “Our student platform thrives because of the outstanding leaders …
The Dec. 17 webinar “Student Housing in the Age of AI,” sponsored by EliseAI, examined challenging questions about the role of artificial intelligence (AI) in the industry when it comes to operations, leasing, marketing, centralization efforts and more. Chief among those questions: how can student housing professionals best leverage AI to streamline processes and track return on investment (ROI)? Listen in to hear from leading owners and operators who are integrating new technologies for needs as diverse as decreasing operating costs, answering questions from potential residents, generating leads, boosting leasing efforts, …
Tech Challenges Appear on Horizon as Internet Demand Swells
Student housing populations demand robust internet connections to stream classes, research and collaborate with study partners, and even log in to remote jobs. To unwind, they may stream movies, download entire seasons of favorite television shows or join friends in lengthy online gaming sessions. Property owners and managers may already feel they are fighting an uphill battle to satisfy residents’ voracious appetites for internet bandwidth, but greater challenges lie ahead. Driven largely by advancements in artificial intelligence (AI), data volumes could soon overwhelm internet connectivity at properties that fail to …
Gen Z is shaking up the status quo when it comes to traditional student housing marketing strategies. Known as Gen Z, Generation Z or Zoomers, this demographic group is made up of people born from the late 1990s to the early 2010s. Meanwhile, new predictive leasing technology enables better approaches for savvy owners and operators ready to shift toward more insightful, data-driven marketing attribution methods. One doesn’t need to be a marketing expert to see the vast differences between Gen Z and its predecessor cohorts in everything from consumer behavior …
The student housing industry comes with a unique set of challenges that traditional multifamily operators don’t face. From renting to a demographic that has largely enjoyed rent-free living under mom and dad’s roof, to navigating the complexities of parental guarantors and financial aid, to grappling with no-shows and skips, student housing operators must carefully manage risks that can jeopardize occupancy and rental income. Solutions like lease guarantees are rapidly gaining traction in this market, offering a win-win approach that protects operators while expanding housing access for students. For most students, …
Student Quarters Awarded Management of 502-Bed Community Near Sam Houston State University
Huntsville, Texas — Student Quarters has been awarded management of The Armory at Sam Houston, a 502-bed student housing property located near the Sam Houston State University campus in Huntsville. The six-story community is located at 2257 Sam Houston Ave. and was recently acquired by Time Equities Inc. for an undisclosed price. The property offers fully furnished units in studio, one-, two-, three-, four- and five-bedroom configurations. Shared amenities include a rooftop deck, swimming pool, dog park, fitness center, yoga studio and study rooms.
Raleigh, N.C. — The Preiss Co. (TPCO) has been awarded management of seven communities in North Carolina and Texas. New assignments include the 732-bed East Village and 96-bed Blue Hill Apartments communities, both located in Charlotte; The Lookout, a 48-bed property located in Chapel Hill, North Carolina; Madera, a 504-bed community located in San Antonio; The Province, a 696-bed development located in Greensboro, North Carolina; Green Spring Apartments, a 52-bed property located in San Marcos, Texas; and Sparq on Rio, a 388-bed community located in Austin, Texas. The Raleigh, North …
Each year, the academic calendar requires student housing operators to compress revenue generation for the entire year into the nine or 10 months when students most need to rent their product. In that accelerated and ever-changing environment, management teams with the experience, skills and tools to respond quickly are in the best position to manage costs and drive growth. “I like to say that student housing moves in dog years — miss a day and you miss a week; miss a month and you could miss a year,” says Stacey …
Atlanta — PeakMade Real Estate has been awarded management of four student housing properties in Canada totaling 1,555 beds throughout the province of Ontario. The communities under management include Geo Central, a 554-bed student housing development serving Queens University in Kingston; Unity Point and Unity Place, which comprise 309 and 350 beds, respectively, also in Kingston; and Avant, a 342-bed community located across from the Toronto Metropolitan University campus in downtown Toronto. These communities represent the Atlanta-based company’s first international venture. “The expansion into the Canadian market has been the …