The Preiss Co., Township Capital Recapitalize 425-Bed Community Near East Carolina University

by Katie Sloan

Greenville, N.C. — The Preiss Co. (TPCO), in partnership with Township Capital, has recapitalized Eastern on 10th, a 425-bed student housing community located near East Carolina University in Greenville.

The garden-style property was developed in 2018 and offers one-, two- and three-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, 24-hour fitness center, clubhouse, lounge areas, a self-serve coffee bar, gaming area, study lounge and cyber cafe.

“Re-capitalizing this well-located student housing complex fits in to our strategy to develop Class A student housing located within one mile of selective universities, which Preiss intends to hold on a long-term basis,” says Susan Folckemer, chief acquisition and development officer at TPCO.  “We remain upbeat about student housing and continue to seek attractive investment opportunities in strong markets with high barriers to new entry.”

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