Student Housing Business

JUL-AUG 2018

Student Housing Business is the voice of the student housing industry.

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Page 12 of 104

NE WS IN BRIEF July/August 2018 12 ASSET CAMPUS HOUSING AWARDED MANAGEMENT OF 432-BED COMMUNITY IN FORT WAYNE Fort Wayne, Ind. — Asset Campus Housing has been awarded man- agement of St. Joe Place, a 432-bed student housing community lo- cated near Ivy Tech Community College and Purdue University- Fort Wayne in Indiana. The prop- erty offers two- and four-bedroom units. Shared amenities include a 24-hour fitness center; game room with gaming stations and a pool table; an outdoor grilling area; a study center with computers; an outdoor basketball court; and a resort-style pool with hot tub. ASSET CAMPUS HOUSING AWARDED MANAGEMENT OF 222-BED COMMUNITY NEAR VALDOSTA STATE UNIVERSITY Valdosta, Ga. — Asset Campus Housing has been awarded man- agement of The Gates at Valdo- sta, a 222-bed student housing community located near Valdosta State University in southern Geor- gia. The property offers two- and three-bedroom units with bed- to-bath parity. Shared amenities include a swimming pool and on-site parking. The community also offers the option to rent a fur- nished apartment. NAI ARRANGES SALE OF 360-BED COMMUNITY NEAR THE UNIVERSITY OF TENNESSEE Knoxville, Tenn. — NAI Global and NAI Koella | RM Moore has arranged the sale of The Tower at Morgan Hill, a 360-bed student housing community located near the University of Tennessee in Knoxville. Rick Ross, Colin Moore, David Ellis and Alex Waddey of NAI represented the undisclosed seller in the transaction. FPA Mul- tifamily acquired the community, which offers shared amenities in- cluding a clubhouse, state-of-the- art fitness studio, computer room, study lounge and a business cen- ter. TH REAL ESTATE PROVIDES $129.4 MILLION IN FINANCING FOR TWO COMMUNITIES IN MINNESOTA, GEORGIA Minneapolis and Athens, Ga. — TH Real Estate — an affiliate of Nu- veen, the investment manage- ment arm of TIAA — has provid- ed separate loans totaling $129.4 million for two student housing communities located in Minne- sota and Georgia. The company has provided an $83.2 million re- capitalization for The Marshall, a 994-bed community located near the University of Minnesota in Minneapolis. The company also provided a $46.2 million, first mortgage financing for Georgia Heights, a 294-bed community lo- cated near the University of Geor- gia in Athens. Both loan facilities were arranged for the borrower, a joint venture between Schenk Re- alty Group and EdR. THE ANNEX GROUP HIRES DIRECTOR OF FINANCE Indianapolis — The Annex Group has hired Sam Hurley as the Indi- anapolis-based company's direc- tor of finance. In his new position, Hurley will be leading the pro- curement of debt and equity, as well as providing detailed finan- cial analysis of all projects. Prior to joining Annex, Hurley was a senior financial analyst at a mul- tifamily development company where his primary responsibilities included underwriting new sites, structuring and financing projects, and seeing deals through the clos- ing process. C H I C A G O | L A FAY E T T E | I N D I A N A P O L I S St. Joe Place in Fort Wayne, Indiana, offers shared amenities including a resort-style pool and hot tub. Asset Campus Housing was recently awarded management of the community.

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