Preiss, FD Stonewater to Break Ground on Two Developments in North Carolina, Tennessee

Raleigh, N.C. and Knoxville, Tenn. — A joint venture between The Preiss Co. and FD Stonewater has acquired sites for two student housing developments in North Carolina and Tennessee. Projects will include Signature on Grand, located near the University of Tennessee in Knoxville; and Signature on Varsity, which will serve students attending North Carolina State University in Raleigh. The communities will offer over 1,200 beds in studio through five-bedroom configurations. Shared amenities will include resort-style pools, state-of-the-art fitness centers, study lounges and social spaces. The communities will be developed in partnership with Monarch Alternative Capital and are scheduled for completion in fall 2027. Debt and construction financing for the communities was secured by Ian Walker and Ben Roelke of Newmark. Teddy Leatherman and Jayme Nelson of JLL secured additional equity for the projects.