Student Housing Business

JUL-AUG 2018

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

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MANAGEMENT July/August 2018 StudentHousingBusiness.com 58 to adequately serve the properties and deliver results for our inves- tors. We anticipate this approach to continue and our management business to grow as our owner- ship portfolio grows. SHB: Have you ever seen it go the opposite way, where a com- pany launches in-house manage- ment while they're growing but changes course and reverts to third-party? Bonnin: We have worked with a couple of clients who launched their own management group but came back to us because of the unexpected work load and the difficulty of attracting tal- ented student housing personnel. In addition, we work with other organizations who are focused on acquiring assets but love the brand they have created. In those scenarios, we are open to giv- ing them the support they need through keeping their brand intact while ACH handles the overall operations. SHB: Does Student Quarters like to white label its management on properties still operated by third parties? Harden: No. We either manage the property in-house or we don't. SHB: How does growing your management square with SQ's acquisition and development goals? Harden: There will always be rea- sons to wait or not do it at all. When your reasons 'why' out- weigh your reasons 'why not,' it's time to consider making the move. I think one reason why many have tried and changed course is that they underestimate how much effort it actually takes. To their credit, third party manag- ers do a great job of allowing own- ers to not have to worry about everything that goes into manag- ing a management company. As a result, there is a huge knowledge gap between the 'why' and the 'how.' I could convince a lot of owners in one coffee meeting why self-managing makes sense. How- ever, it would take years for some- one to understand how to actually do it. That's why knowing what's needed and bringing on the right people to fill those needs is the most important part of creating your own management structure. SHB: What are some of the risks to developing your own manage- ment platform? AQUISITIONS DEVELOPMENT INVESTMENT Aggressively pursuing student housing developments and acquisitions in primary, secondary, and tertiary markets, up to 5 miles from campus. Acquisitions: Phillip A. Duke (310 435-1269 Phillip@ColumbusPacific.com Development: Michael Augustine (435) 214-7431 MAugustine@HomesteadDP.com DEVELOPED BY MANAGED BY ColumbusPacific.com Homestead-U.com HomesteadDevelopmentPartners.com AARON HARDEN Vice President of Asset Management Student Quarters

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