Student Housing Business

SEP-OCT 2018

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

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NE WS IN BRIEF September/October 2018 16 PREISS, TH REAL ESTATE ACQUIRE 450-BED COMMUNITY NEAR SAM HOUSTON STATE Huntsville, Texas— A joint venture between The Preiss Company and TH Real Estate has acquired The Forum at Sam Houston, a 450-bed stu- dent housing community located near the Sam Houston State campus in Huntsville. The garden-style community offers studio, one-, two- and three-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, basketball court, sand volleyball court, club- house, cyber café, fitness center, an outdoor lounge with a fireplace and two pet parks. The property is set to undergo substantial renovations this fall, including upgrades to the clubhouse; exterior and interior paint- ing; and the addition of new furniture, flooring and kitchen backsplashes to units. The Preiss Company will manage the community and oversee renovations. Ryan Lang and Brandon Buell of ARA Newmark brokered the sale. Trent Houchin of NKF Capital Markets arranged financing for the transaction. WALKER & DUNLOP ARRANGES $24.5 MILLION FINANCING FOR 390-BED COMMUNITY NEAR AUBURN UNIVERSITY Auburn, Ala. — Walker & Dunlop has arranged $24.5 million in financ- ing for Two21 Armstrong, a student housing community located adja- cent to Auburn University in Alabama. Livingston Hessam, Jeremy Pino, Kyle Miller, Keith Melton and David Strange of Walker & Dunlop se- cured the loan on behalf of the undisclosed borrower. An undisclosed life insurance company provided the financing. The property offers one-, two- and three-bedroom, apartment- and townhome-style units with bed-to-bath parity. Shared amenities include a clubhouse, commu- nity bicycles, a fitness center, swimming pool, grilling stations, outdoor fitness equipment and a coffee bar. CAMPUSWORKS DEVELOPMENT TEAM JOINS ASPEN HEIGHTS Charlotte, N.C. — The development team from CampusWorks has joined Aspen Heights Partners to oversee new projects throughout the Eastern U.S. The CampusWorks team will remain based in Charlotte, North Caro- lina, where its current headquarters are located. The new Aspen Heights location is the company's first office outside of its corporate headquarters in Austin, Texas. David Helfrich, founder and CEO of CampusWorks, has been named president of the new Aspen Heights East Coast divi- sion. Vice President of Development Dan Koebel, Vice President of Land Acquisition Steve Helfrich and Development Analyst Chris Foley also joined. "David and his team have extensive experience in areas of the country where we expect to see a lot of continued investment and de- velopment activity in the coming years," says Aspen Heights CEO Greg Henry. "We're confident that they will be tremendous assets to Aspen Heights as we continue to expand our footprint and grow our business." CampusWorks has developed more than 7,500 beds primarily in the Southeast since it was founded in 1999. The development team has proj- ects totaling more than 5,000 beds in various stages of development all along the East Coast, as well as in the Southeast and Midwest regions. "We're excited to become part of a great team and a great company," says Helfrich. "Aspen Heights' reputation, size and vertical integration coupled with our experience, market knowledge and relationships will allow us to quickly grow an East Coast division of Aspen Heights. It's a great fit for both companies." OAKLAND UNIVERSITY TO OFFER COMCAST'S XFINITY ON CAMPUS Auburn Hills, Mich. — Oakland University is set to offer Comcast's Xfin- ity On Campus service to students. The service allows students living on campus to watch live television and on-demand and recorded content on their IP-enabled devices, including laptops, tablets and smartphones. Students are also able to watch television off campus through the Xfinity Stream application. The Forum at Sam Houston offers shared amenities including a resort- style swimming pool. The property was recently acquired by a joint venture between The Preiss Company and TH Real Estate.

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