Student Housing Business is the voice of the student housing industry.
Issue link: https://studenthousingbusiness.epubxp.com/i/616872
NOVEMBER/DECEMBER 2015 STUDENT HOUSING BUSINESS .COM 66 TOP 25 OWNERS 2014 Rank: 2 EdR 999 South Shady Grove, #600 Memphis, TN 38120 www.edrtrust.com Top Executive: Randy Churchey, Chief Executive Ofcer and Chairman of the Board of Directors Number of Beds Owned: 32,654 Total Number of Properties Owned: 63 Number of Properties Owned Of-Campus: 49 Number of Beds Owned Of-Campus: 26,100 Number of Properties Owned On-Campus: 14 Number of Beds Owned On-Campus: 6,554 Number of Properties Owned In Joint Ventures: 3 Percentage of Beds Owned in Joint Ventures: 5.7% Percentage of Portfolio Operated by the Unit: 1% Percentage of Portfolio Operated by the Bed: 99% Number of Colleges/Universities Where Properties Are Located: 40 Sample Campuses: University of Kentucky, Colorado Boulder, Texas Tech Minnesota, University of Tennessee, University of Mississippi, University of West Georgia 2014 Rank: 5 The Scion Group 444 North Michigan Avenue Chicago, IL 60611 www.thesciongroup.com Top Executive: Robert Bronstein, President Number of Beds Owned: 23,927 Total Number of Properties Owned: 33 Number of Properties Owned Of-Campus: 33 Number of Beds Owned Of-Campus: 23,927 Number of Properties Owned On-Campus: 0 Number of Beds Owned On-Campus: 0 Number of Properties Owned In Joint Ventures: 29 Percentage of Beds Owned in Joint Ventures: 89% Percentage of Portfolio Operated by the Unit: 0% Percentage of Portfolio Operated by the Bed: 100% Number of Colleges/Universities Where Properties Are Located: 26 Sample Campuses: Purdue University, University of Illinois, University of South Carolina, University of Georgia. 2014 Rank: 4 The Collier Companies 220 North Main Street Gainesville, FL 32601 www.colliercompanies.com Top Executive: Nathan Collier, Owner/Founder Number of Beds Owned: 23,750 Total Number of Properties Owned: 47 Number of Properties Owned Of-Campus: 47 Number of Beds Owned Of-Campus: 23,750 Number of Properties Owned On-Campus: 0 Number of Beds Owned On-Campus: 0 Number of Properties Owned In Joint Ventures: 10 Percentage of Beds Owned in Joint Ventures: 31% Percentage of Portfolio Operated by the Unit: 52% Percentage of Portfolio Operated by the Bed: 48% Number of Colleges/Universities Where Properties Are Located: 13 Sample Campuses: University of Florida, Florida State University, University of South Florida, Central Florida University, University of Georgia, Oklahoma University Top 25 Owners Of Student Housing Student Housing Business conducted its annual ranking of the industry's Top 25 Owners of Student Housing throughout fall 2015. SHB uses the number of beds as a benchmark to determine the largest owners. In 2015, American Campus Communities again ranks as the largest owner of student housing, but there are many changes in play at the time the survey was conducted. Chief among those is the pending (as of press time) acquisition of Campus Crest Communities by Harrison Street Real Estate Capital. That pending transaction leaves about 40,000 beds unaccounted for in this year's survey. We also had two frms who could not participate due to internal disclosure rules, leaving another approximately 25,000 beds of the survey. SHB has footnoted these missing beds in our results. This year, many frms posted modest changes in bed counts from 2014. Our observation is that many frms with decreases sold beds to those frms who posted increases. Firms with the largest increases in bed counts include The Scion Group, who moves from number 5 owner in 2014 to Number 3 owner in 2015. Blue Vista Capital Management also increased its holdings, moving from 7th largest owner in 2014 to 5th largest owner in 2015. The Preiss Company, Campus Apartments, Campus Advantage, University House Communities, Vesper Holdings, Pierce Education Properties, Columbus Pacifc Properties, Capstone Collegiate Communities and University Student Living were also among the frms showing a double digit increase in the percentage of beds that they owned year over year. Joining the Top 25 Owners this year are Capstone Real Estate Investments, FPA Multifamily, and Student Quarters. Private equity fund owners are ranked within the Top 25 Owners using the number of wholly-owned beds (beds not owned in joint ventures) in order to avoid double-counting the beds among owner-operators who may be co- invested. The minimum number of beds it took to rank on the Top 25 Owners this year was 4,100; interestingly, in 2014 the minimum was 5,000 beds. Data for the survey was completed for properties owned as of October 31, 2015. In some cases, SHB had to contact companies for further information after the survey was complete, but requested numbers accurate as of October 31, 2015. This survey is produced by Student Housing Business staf. For footnotes on the survey results, please see page 74. For collection methodology, please see page 72. 1 4 3 Student Housing Business's list of the 2014 Rank: 1 American Campus Communities 12700 Hill Country Blvd., Suite T-200 Austin, TX 78738 www.americancampus.com Top Executive: Bill Bayless, President and Chief Executive Ofcer Number of Beds Owned: 95,906 Total Number of Properties Owned: 157 Number of Properties Owned Of-Campus: 135 Number of Beds Owned Of-Campus: 76,585 Number of Properties Owned On-Campus: 22 Number of Beds Owned On-Campus: 19,321 Number of Properties Owned In Joint Ventures: N/A Percentage of Beds Owned in Joint Ventures: 0% Percentage of Portfolio Operated by the Unit: 5% Percentage of Portfolio Operated by the Bed: 95% Number of Colleges/Universities Where Properties Are Located: 74 Sample Campuses: Arizona State University, University of Texas, Prairie View A&M; University, Texas Tech University, Florida State University, Drexel University, Texas A&M; University Top Private Equity Fund Owners Rank Among Top 25 # of Total # beds, Wholly-owned Fund Owners Rank Company HQ props incl. JVs beds* 1 24 Harrison Street Real Estate Capital Chicago 71 36,501 4,746 2 5 Blue Vista Capital Management Chicago 41 20,993 19,314 3 11 Kayne Anderson Real Estate Advisors Boca Raton, FL 30 18,685 11,211 4 NR Heitman Chicago 30 16,456 2,140 5 NR Virtus Real Estate Capital Austin, TX 11 8,865 0 *estimated NR = not ranked 2 2