The Preiss Co. Secures Recapitalization for 600-Bed Community Near Auburn University 

Auburn, Ala. — The Preiss Co. (TPCO) has recapitalized the Collective at Auburn, a 600-bed community located near the Auburn University campus in Alabama. A multi-million dollar renovation is planned for the property, which will include upgrading countertops, appliances and paint in select units; modernization of unit access controls; and fully furnishing 25 percent of units. Upgrades are slated to begin in spring 2025. The community offers two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a 24-hour fitness center, swimming pool, basketball court, tanning salon, volleyball court, game room, movie theater and business center. “This marks TPCO’s third asset recap completed this calendar year,” says COO Adam Byrley. “We continue to seek assets that will benefit from targeted capital improvement plans and we believe our familiarity with the Auburn market — coupled with the interior upgrades and popularity of the cottage-style units — will produce a product that will resonate with the community.”