Statesboro, Ga. — Raleigh, N.C.-based The Preiss Company has acquired University Village at Southern, a 532-bed apartment property located a half-mile from Georgia Southern University. Preiss is planning $1 million in capital expenditures to enhance the property, which was built in the early 1990s. The company plans to add a new gym, new roofs and decks, HVAC units and water heaters. The acquisition, which is Preiss’s first in Georgia, was headed by the company’s vice president of business development, John Preiss, and is financed by Midland Bank.
— Randy Shearin