Student Housing Business

SEP-OCT 2018

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

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CAMPUS UPDATE September/October 2018 StudentHousingBusiness.com 20 GILBANE ANNOUNCES FIVE NEW STUDENT HOUSING DEVELOPMENTS TOTALING 3,500 BEDS Providence, R.I. — Providence-based Gilbane Development Co. has announced the launch of five new developments across the U.S. The properties total over 3,500 beds, with project costs valued at more than $400 million. Properties include Octave, a 538-bed community located near the University of Illinois at Urbana-Champaign; Alor, a three- building, 946-bed community located near Arizona State University in Tempe; Sierra, a 228-unit building located near Oregon State University in Corvallis; Towson Row, a 720-bed community located near Towson University in Maryland; and Bixby, a 656-bed community located near Kennesaw State University in Georgia. Each community will offer fully furnished units with bed-to-bath parity and shared amenities includ- ing fitness centers, personal and group study areas, clubhouses and swimming pools. All properties plan to begin operations by fall 2020, apart from Octave at the University of Illinois, which is scheduled for fall 2019 occupancy. Nova Southeastern University RISE BEGINS CONSTRUCTION ON 608-BED MIXED-USE DEVELOPMENT AT NOVA SOUTHEASTERN UNIVERSITY Fort Lauderdale, Fla. — Construction has commenced on a 608-bed, mixed- use development by RISE: A Real Estate Company on the Nova Southeast- ern University campus in Fort Lauderdale. The 310,000-square-foot prop- erty will offer 280 units for upperclassmen at the site of the university's former intramural soccer field. The community will consist of one-, two- and four-bedroom student apartments with full kitchens and in-unit wash- ers and dryers. Each floor will include lounges and study rooms offering a mix of open and semi-private space for resident interaction. The property will also feature an on-site innovation center, which will serve as a business incubator for students, and outdoor amenities including hammocks, table tennis and barbecue grills. Juneau Construction Company is the project's general contractor and Niles Bolton Associates is the architect. The com- munity is set to open in summer 2019. Octave, Gilbane Development Co.'s new project located near the University of Illinois at Urbana-Champaign, is set to open in fall 2019. The Standard at Raleigh The Reef Consulted on acquisition financing of a 228-unit, 924-bed student housing community near Florida Gulf Coast University in Fort Myers. This transaction continued the firm's successful relationships with Coastal Ridge Real Estate and M Group. For more information on TSB Capital Advisors & its services, contact Timothy S. Bradley 480.626.4416 | tbradley@tsbca.com | tsbca.com Consulted on construction financing of a 263-unit, 775-bed student housing community located near North Carolina State University in Raleigh, North Carolina. This transaction continued the firm's successful relationship with Landmark Properties. Featured Deals: COASTAL RIDGE R E A L E S T A T E Consulted on acquisition financing of a 320-unit, 896-bed student housing community located near the University of Michigan in Ann Arbor. This transaction continued the firm's successful relationship with Harrison Street Real Estate Capital. The Courtyards

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