Student Housing Business is the voice of the student housing industry.
Issue link: https://studenthousingbusiness.epubxp.com/i/616872
NE WS IN BRIEF NOVEMBER/DECEMBER 2015 STUDENT HOUSING BUSINESS .COM 10 Real Furniture Made by Real People. Visit our world headquarters 2588 Jannetides Blvd., Greenfield, IN 46140 Or visit us online @ www.uloft.com The #1 purchased multi-family lounge group in the country. The Jennings Upholstery stands out from the crowd with its modern design, incredible comfort and durable construction. The chair, sofa, and loveseat all feature detailed top- stitch sewing and Velcro™ applied covers for easy cleaning or replacement. The Uptown Series is designed to maximize durability while creating a modern, clean look. Multiple metal and laminate fnish options allow you to customize your furniture to perfectly compliment your property. Talk to a customer service representative today to fnd out more. 800 423-LOFT (5638) The Uptown Series with Jennings Upholstery MAKERS OF COOL FURNITURE TM RISE ACQUIRES AMBLING STUDENT HOUSING PORTFOLIO Valdosta, Ga. — RISE: A Real Estate Company, formerly Ambling University Development Group, has purchased Ambling Student Housing and its management platform of more than 17,000 student housing beds at 36 properties in 16 states. "This acquisition is a key component to RISE's vision to grow both its development and management portfolios strategically over the next few years," Greg Blais, Valdosta, Georgia-based RISE's presi- dent, told Student Housing Business. "Our extended platform allows us to capitalize on long lasting relationships and dive deeper to serve our partners, to serve our employees and to serve our residents. Through leveraging our two decades of experience on- and off- campus, we are excited by our ability to add value today and tomorrow." Ambling Cos. Inc. frst formed a management company in 1995. In 2011, Ambling Cos. restructured, at which time several owners took the student housing development platform, Ambling University Development Group (AUDG), independent. In 2014, AUDG ownership started its own man- agement company that rebranded to RISE in June 2015. PIONEER BUYS UNIVERSITY OF CHICAGO OFF-CAMPUS HOUSING Chicago — Pioneer Acquisitions has acquired 21 multifamily buildings in the Hyde Park neigh- borhood, including nearly 700 apartments, from the nearby University of Chicago. Terms of the deal were not disclosed. The majority of the properties are used for graduate student hous- ing, with others housing faculty. Two vacant lots were included in the sale. MJW INVESTMENTS ACQUIRES CAMPUS VIEW COLLECTION AT MICHIGAN STATE UNIVERSITY East Lansing, Mich. — MJW Investments has acquired the Campus View Collection, a Class A, 195-bed student housing property located near Michigan State University (MSU). The portfolio consists of three properties all locat- ed within one block of campus. The acquisi- tion represents the frm's second purchase at Michigan State. The Campus View Collection is the most recent acquisition associated with the $500 million student housing value-add fund established by MJW Investments. Other recent transactions include 744 beds at Texas Tech University, 810 beds at Liberty Square Apartments at Brigham Young University, 301 beds at 2900 Place Apartments at MSU and 405 beds at Cougar Ridge Apartments at Washington State University. GMH ACQUIRES THREE KAYNE ANDERSON STUDENT HOUSING PROPERTIES Newtown Square, Pa. — GMH Capital Partners has acquired three student housing assets from Kayne Anderson Real Estate Advisors: The Rise at Northgate, located in College Station, Texas, serving the students of Texas A & M University, and Sol and Luna (formerly Next and Level), located in Tucson, Arizona, adjacent to the University of Arizona. The acquisitions conclude Newton Square, Pennsylvania-based GMH's 2015 strategy to fnish the year with more than $300 million in new student housing assets. Randall Calvert from TSB Realty bro- kered the transaction. Before its sale in 2008, GMH's College Park Communities division serviced nearly 70,000 beds across 29 states. Earlier this year, GMH returned to the student space by forming a programmatic JV partner- ship with Principal Real Estate Investors. With the three recent acquisitions, GMH currently owns and manages more than 3,000 beds. "In 2016, we will focus on adding additional core properties to the GMH portfolio; we will also broaden our investment criteria to include 'val- ue-add' properties and ground-up develop- ment," says Gary Holloway, Jr., president of GMH Capital Partners.