Student Housing Business

JAN-FEB 2017

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

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NE WS IN BRIEF January/February 2017 StudentHousingBusiness.com 8 RISE ACQUIRES 580-BED COMMUNITY NEAR OHIO UNIVERSITY Athens, Ohio — Rise: A Real Estate Company has acquired University Courtyard Athens, a 580-bed community located near Ohio University in Athens. The prop- erty offers one-, two- and four- bedroom fully furnished units. Community amenities include a business center, campus shut- tle, clubhouse, tanning, private and group study areas, a swim- ming pool, volleyball court and fitness center. Renovations to be implemented by RISE include upgrades to units, with the addi- tion of stainless steel applianc- es, fixtures and hardware, new flooring and upgraded furniture; updates to common spaces and amenities; and energy efficiency improvements. CARDINAL GROUP ADDS 1,500 BEDS TO MANAGEMENT PORTFOLIO Denver — Denver-based Cardinal Group Management has been awarded management of four new student housing commu- nities totaling approximately 1,500 beds. Communities include Station 74, located near Murray State University in Kentucky; Station at Martin, located near the University of Tennessee at Martin; 101 Center, located near the University of Texas at Arlington; and SkyGarden, located near the College of Charleston in South Carolina. PEAK CAMPUS AWARDED MANAGEMENT OF 358- BED COMMUNITY NEAR GEORGIA SOUTHERN Statesboro, Ga. — Peak Campus has been awarded management of The Renaissance, a 358-bed garden-style community located near Georgia Southern University in Statesboro. The property offers fully furnished three- and four- bedroom townhomes and four- bedroom flats with bed-to-bath parity and washers and dryers. Community amenities include an upgraded fitness center with a yoga studio, dog park, swimming pool and expanded clubhouse with an interactive game room. CA VENTURES PROMOTES JJ SMITH TO PRESIDENT OF CA STUDENT LIVING Chicago — Chicago-based CA Ventures has promoted JJ Smith to president of CA Student Living, the firm's student housing invest- ment and devel- opment divi- sion. Smith has been with CA Ventures since 2007. During his nearly 10 years with the com- pany, Smith has overseen more than 40 ground-up developments valued at over $2.5 billion across multiple divisions. "Ever since my first encounter with JJ, I knew his can-do attitude combined with his real estate expertise would be instrumental in fueling our expansion," says Tom Scott, CEO of CA Ventures. "His passion and creative approach to each deal are an inspiration to his team mem- bers and everyone at this com- pany, which wouldn't be the same without his leadership skills." Rise: A Real Estate Company recently acquired University Courtyard Athens, a 580-bed community located near Ohio University. Smith ACC ANNOUNCES EXECUTIVE PROMOTIONS, UPCOMING RETIREMENT OF CFO Austin, Texas — Austin-based American Campus Communities has announced a series of internal promotions and the retirement of the company's CFO. Effective immediately, the company is sepa- rating the roles of president and CEO. Bill Bayless will remain CEO, and Jim Hopke, COO, has been promoted to president. In his expanded role, Hopke continues to report directly to the CEO and provides executive oversight of day-to-day busi- ness operations, advances the company's asset and portfolio management functions and focuses on furthering the company's operating platform. Jennifer Beese — formerly EVP of operations, marketing and leasing — has been promoted to the position of COO, and continues to report direct- ly to Hopke. Beese continues to provide execu- tive oversight of marketing, leasing and property operations, and functional support services. She has assumed executive responsibility for human resources, corporate administration and company culture. In addition to these promotions, Jon Graf will step down as CFO on March 31, 2017, and will be retiring from the company on June 30, 2017. Daniel Perry — currently EVP of corporate finance and capital markets — will be promoted to CFO. Perry has been the lead executive interacting with investors, analysts and the banking community for many years. Kim Voss — EVP and controller — will be promoted to the position of chief accounting officer, reporting directly to the CFO. Beese Hopke

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