Student Housing Business

JUL-AUG 2018

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

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Page 4 of 104

FROM THE EDITOR July/August 2018 4 With approximately 45,000 beds opening this fall on-campus and off-campus, development still remains strong in the student housing industry. Many on the development side would agree with me when I say that student housing development is not the same as it used to be. For one, it requires a strong level of sophis- tication and skill to acquire a site, get the entitlements needed, and arrange the capital stack for the project. Construction comes with its own set of challenges, as does designing a project to meet a pro forma. Marketing and leasing are also areas that enable the success of a project. For our SHB Interview in this issue, we talk to Wes Rogers, CEO of Landmark Properties, who knows quite a bit about developing successful student housing projects. It was interesting to speak to Wes about his thoughts on development today. When we last featured him as our SHB Interview subject, Landmark was known as a merchant developer and primarily built cottage prod- ucts. Today, the company has switched gears and holds a number of the properties it builds, most of which are high rise urban projects. See page 32 for the interview. Meanwhile, on-campus, developing student housing in public-private partner- ships continues to be of interest to colleges and universities. In 2011, the University of Kentucky made news when it signed a P3 with EdR that would allow for new development to happen on campus and result in thousands of new beds in a rela- tively short period of time. Today, much of that development — about 7,500 beds — has taken place, and EdR and UK have both learned a lot from the experience. We spoke with Dr. Eric Monday, executive vice president of finance and administration at UK, to get his take on P3s and his experience at the university. Our View from the Academe is on page 42. I'd be remiss if I didn't mention the summer's biggest news — the impending take- private transaction between Greystar and EdR that was announced in June. We have been speaking to many in the industry about this story and look forward to cover- ing it further as the closing occurs later this year. In the meantime, you can read our coverage on page 8 and read some industry reaction from Brian Thompson, executive vice president at CA Ventures on page 102. Head of the Class Volume 9, Issue 5 July/August 2018 publisher Richard Kelley (914) 468-0818 media advisor Tim Tolton designers Jaime Lackey Katie Sloan Julie Hunt Nick Topolski editor Randall Shearin (404) 832-8262 associate editor Katie Sloan (404) 832-8262 contributing writers Lynn Peisner, Taylor Williams Amy Bigley Works published by France Media, Inc. Jerrold France Chairman and CEO Scott France President Michael F. Jacobs Chief Financial Officer Randall Shearin SVP, Editorial & Operations STUDENT HOUSING BUSINESS ® Student Housing Business (ISSN 2153-2915) is published 7 times per year with 6 being bi-monthly and 1 in August by France Publications, Inc., d/b/a France Media, Inc. © 2018 France Publications, Inc. Editorial and advertising offices are located at Two Securities Centre, 3500 Piedmont Rd., Suite 415, Atlanta, GA 30305. Telephone (404) 832-8262. Facsimile (404) 832-8260. Editorial E-mail: ran- Periodicals postage paid at Atlanta, GA and at additional mailing offices. POSTMASTER: Please send address changes to Student Housing Business, P.O. Box 47065, Plymouth, MN 55447-0065. Student Housing Business is a trademark of France Publications, Inc. Subscription rates: USA 1 year: $74; 2 years $120. Single copies are $15. The opinions and statements made by authors, contributors and advertisers to Student Housing Business are not necessarily those of the editors and publishers. ©2018 France Publications, Inc. To photocopy items from Student Housing Business in quantities of 100 or less, authorization must be obtained from and a fee paid to the Copyright Clearance Center, 222 Rosewood Dr., Danvers, MA 01923, telephone (978) 750-8400. For quantities of more than 100, please contact Barbara Sherer, manager of special advertising, at (404) 832-8262. For subscriber services, including change of address or cancellation, call or write to: STUDENT HOUSING BUSINESS, Customer Service Department, P.O. Box 47065, Plymouth, MN; 55447- 0065 tel: 1-800-869-6882. Email: Randall Shearin Editor Problems with Internet Network Alligators? Download YOUR protection NOW (888) 288-2587 WWW.CAMPUSTECHNOLOGIES.COM The BEST or nothing. SCAN ME SCAN ME

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