Joint Venture Acquires Two Student Housing Communities in North Carolina

by Katie Sloan

Charlotte, N.C. — A joint venture between The Preiss Co. and an undisclosed private investment group has acquired two student housing communities located near the University of North Carolina-Charlotte.

The Preiss Co. previously owned the properties with a different joint venture partner, and will retain its share and continue to operate both complexes. Properties include University Village at Charlotte, a 660-bed, garden-style apartment and townhouse community located .2 miles from campus; and 48 North, a 520-bed, townhouse community located .3 miles from campus.

Shared amenities at University Village include a private shuttle to campus, clubhouse with game room, state-of-the-art fitness center and cardio room, resort-style swimming pool and a computer center. Shared amenities at 48 North include a private shuttle service to campus, saltwater swimming pool, 24-hour fitness center, tanning, a computer lab, coffee bar, sand volleyball courts and a fire pit. Both properties offer bed-to-bath parity, and are set to undergo renovations under the new ownership. 

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