Student Housing Business

NOV-DEC 2017

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

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Page 32 of 130

CAMPUS UPDATE November/December 2017 32 University of West Florida CAMPUS REALTY ADVISORS OPENS 344-BED COMMUNITY Pensacola, Fla. — Campus Realty Advisors has opened The Edge Pensac- ola, a 344-bed student housing community located near The University of West Florida in Pensacola. The community offers three-, four- and five- bedroom, fully furnished units. Shared amenities include a resort-style pool with open air cabanas; a 24-hour, state-of-the-art fitness center with an aerobic and yoga room; a cyber café with free printing; study rooms; a resident lounge; and an outdoor grilling area with hammocks. The prop- erty was built by Freese Johnson, and designed by Dwell Design Studio. University of Central Florida HFF ARRANGES $103.3 MILLION FINANCING FOR MIXED-USE PROJECT Orlando, Fla. — HFF has arranged $103.3 million in financing for the de- velopment of a mixed-use, student housing development in downtown Orlando. The project is part of the University of Central Florida (UCF)/ Valencia Downtown Campus at Creative Village. The Creative Village project is a redevelopment of the former Amway Arena site into a 68- acre mixed-use, transit-oriented community. Michael Weinberg, Brian Kelly and Mike Higgins of HFF arranged the financing on behalf of the project's co-developers, DEVEN – Development Ventures Group Inc. and Ustler Development Inc. The financing included a $68.1 million con- struction loan from PCCP LLC, $29.9 million in joint venture equity from Halstatt Real Estate Partners and $5.3 million in sponsor equity contrib- uted by the co-developers. The 15-story building will include 600 student housing beds, 11,000 square feet of ground floor retail space, 600 parking spaces and 102,500 square feet of space that is long-term leased to UCF and Valencia College for education and education support services. The project is slated for completion in August 2019. Brown University GMH CAPITAL BREAKS GROUND ON 174-UNIT STUDENT HOUSING COMMUNITY Providence, R.I. — GMH Capital Partners has broken ground on River House, a 174-unit student housing community located in Providence, Rhode Island. The property will be located near Brown University's Alp- ert Medical School, Johnson and Wales University, University of Rhode Island-Providence Campus and the Rhode Island School of Design. The community will consist of two seven-story buildings with approximately 5,000 square feet of retail and restaurant space fronting Point Street and the Providence River. The development is scheduled for completion in May 2019. University of Cincinnati TRINITAS ANNOUNCES PLANS FOR MIXED-USE DEVELOPMENT Cincinnati — Trinitas has announced plans for a mixed-use development located near the University of Cincinnati's main campus. The property was formerly occupied by Deaconess Hospital, and will be developed in phases. Phase I will be developed in partnership with Harrison Street Real Estate Capital, and will include a parking garage and a 357-unit stu- dent housing community. The community will offer studio, one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include a 22,000-square-foot clubhouse, state-of- the-art fitness center, group study rooms, a computer lounge, courtyard pool, sun deck, and an outdoor recreational space with fire pits and grill- ing stations. The initial phase of development is set for delivery in fall 2019. Subsequent phases of development will include retail, restaurants, hospitality and office space. Advertise in STUDENT HOUSING BUSINESS ® Rich Kelley | 914-468-0818 Andrew Johnson | 404-832-8262 Contact

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