Student Housing Business is the voice of the student housing industry.
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FROM THE PUBLISHER JULY/AUGUST 2015 STUDENT HOUSING BUSINESS .COM 4 A s always, it's been a busy summer for the student housing industry! Turn is at the forefront of every owner and operator's mind (and the vendors that work with them), developers are racing to complete new projects to open on-time, and there are no shortage of properties on the market for sale. Our cover story this issue addresses whether in today's market envi- ronment it makes more sense to acquire and buy, or to build and de- velop? There are arguments to be made for each side, but the best news is that there is no wrong answer, both investment and development make sense in today's marketplace and let's all hope it stays that way for many years to come! On-campus, colleges and universities are prepping their housing stock for the upcom- ing school year and wrestling with how to fnd solutions for aging residence halls and whether to build new beds, and if yes, how best to do that. Our 3rd annual InterFace On-Campus Housing conference, taking place October 21-23 in Tempe near Arizona State University, will address those issues and many more, with a special emphasis on the growth and evolution of public/private partnerships and the diferent deal structures and fnancing strategies available for P3 deals. The conference will also focus on what the students of today and tomorrow will be like and what they will be looking for in their living environment. We are very excited to an- nounce that the conference keynote speaker will be the nationally renowned Michael Wood of 747 Group — an informative, entertaining and captivating speaker who has fnger on the pulse of the millennial generation. For more on InterFace On-Campus Housing see ads on pages 50 and 87 or go to www.interfaceconferencegroup.com/och2015 We hope you enjoy this issue and make sure you keep up-to-date on industry news and deals at www.studenthousingbusiness.com. Enjoy the rest of summer! Buy? Build? Both Work! Richard Kelley Publisher Volume 6, Issue 1 JULY/AUGUST 2015 publisher Richard Kelley (914) 468-0818 rkelley@francemediainc.com associate publisher Mark Aden (404) 832-8262 maden@francemediainc.com editor Randall Shearin (404) 832-8262 randy@francemediainc.com managing editor Scott Reid (404) 832-8262 sreid@francemediainc.com designer Jaime Lackey published by France Media, Inc. Jerrold France President and CEO Scott France Executive Vice President Michael F. Jacobs Chief Financial Offcer Tammy Orr Vice President, Circulation Director Randall Shearin Senior Vice President, Editorial & Operations Please recycle this issue of STUDENT HOUSING BUSINESS ® www.StudentHousingBusiness.com www.FranceMediaInc.com 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. © 2015 France Publications, Inc. Editorial and advertising ofces 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: SHB@ francemediainc.com. Periodicals postage paid at Atlanta, GA and at additional mailing ofces. POSTMASTER: Please send address changes to Student Housing Business, P.O. Box 47065, Plymouth, MN 55447-0065. Student Housing Businessis 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. ©2015 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 (630) 554-6054. For subscriber services, including change of address or cancellation, please call or write to: STUDENT HOUSING BUSINESS, Customer Service Depart- ment, P.O. Box 47065, Plymouth, MN; 55447-0065 tel: 1-800-869-6882. Email: shb@kmpsgroup.com Contact: Adam Barzilay Partner & Director of AcquisiƟ ons (310) 395-3430 ext. 218 abarzilay@mjwinvestments.com MJW Investments, Inc. 1650 5th Street, Suite 112 Santa Monica, CA 90401 www.mjwinvestments.com AGGRESSIVELY GROWING OUR STUDENT HOUSING PORTFOLIO AcquisiƟ on Criteria: • $5M - $135M • Class A, B and C level assets • Within 2 miles from campus • Core to value add throughout the U.S. • Minimum enrollment of 15,000 students Recent AcquisiƟ ons: • Gateway at Texas Tech University • 2900 Place Apartments at Michigan State University • Liberty Square Apartments at Brigham Young University • Cougar Ridge at Washington State University University of Oregon Brigham Young University Michigan State University Texas Tech University UC Santa Barbara Washington State University