Student Housing Business

JAN-FEB 2018

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

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January/February 2018 16 NE WS IN BRIEF JOINT VENTURE ACQUIRES 1,692-BED COMMUNITY NEAR EAST CAROLINA UNIVERSITY Greenville, N.C. — A joint venture between FM Capital, Gottlieb Family Partners and AMAC Holdings has acquired Captain's Quarters, a 1,692- bed student housing community located near East Carolina University in Greenville. CBRE arranged the sale of the property following foreclosure. Terms were not disclosed. The property is set to undergo renovations and rebranding. The new name of the community will be Paramount 3800. The property spans 38 buildings, and features shared amenities includ- ing three resort-style pools with outdoor lounging and dining areas; two clubhouses; a full-court basketball gymnasium; double sand volleyball courts; a dog park; fitness center; theater room; computer lab; and mul- tiple private and group study rooms. The Preiss Company has been se- lected to manage the property. COLLIERS CLOSES $32 MILLION SALE OF STUDENT HOUSING COMMUNITY NEAR AUBURN UNIVERSITY Auburn, Ala. — Colliers International has arranged the $32 million sale of The Social, an 844-bed student housing community located at 211 W. Longleaf Drive, roughly three miles from Auburn University. Travis Prince, Sean Baird and Brian Savage of Colliers arranged the transaction. Other terms of the deal were not disclosed. The Social offers one- to three- bedroom units, ranging in size from 918 to 1,188 square feet. Commu- nity amenities include a community theater room, resort-style pool and a clubhouse with billiards, ping pong, foosball and air hockey tables. In addition, the community offers direct access to the Tiger Transit line, a free bus service for Auburn University students. CBRE ARRANGES SALE OF 1,720-BED STUDENT HOUSING PORTFOLIO Madison, Wis.; Auburn, Ala.; and Tallahassee, Fla. — CBRE National Student Housing has arranged the sale of a four-property student housing portfo- lio totaling 1,720 beds in Alabama, Florida and Wisconsin. The portfolio includes The 231-bed Towers on State and the 226-bed Statesider, both located near the University of Wisconsin in Madison; Logan Square, a 639-bed community located near Auburn University; and Tenn Street, a 624-bed community located near Florida State University in Tallahassee. CBRE's Jaclyn Fitts, William Vonderfecht and Casey Schaefer represented the seller, M&A Real Estate Partners, in the transaction. Centurion US Student Housing Fund, a fund managed by Centurion Student Invest- ment Management Pte Ltd, acquired the portfolio for an undisclosed price. ASSET CAMPUS HOUSING AWARDED MANAGEMENT OF 404- BED COMMUNITY NEAR EAST CAROLINA UNIVERSITY Greenville, N.C. — Asset Campus Housing has been awarded manage- ment of Gather Uptown, a 404-bed student housing community located near East Carolina University in Greenville. The community is currently under development, and set to open next fall. The property offers studio, two, three-, and four-bedroom, fully furnished units. Shared amenities will include a 24-hour fitness center; resort-style pool with hot tub; com- munity lounge with a billiards table and games; a video gaming room; outdoor courtyard with barbecue and a fire pit; climate-controlled bicycle storage; a study lounge with a mix of group and private study options; a rooftop terrace with views of the city; a computer lab; and a meditation nook. WHERE STUDENT HOUSING POTENTIAL Meets PERFORMANCE A Top 10 Buyer of Student Housing since 2007, Pierce Education Properties is a major national investor and operator of student apartments. Through our acquisitions of core, core plus and value-added assets, we have: • Completed more than $850+ million in acquisitions since 2007, representing approximately 22,000 beds • Targeting $400+ million in acquisitions over the next three years • Developed extensive capital relationships for best-in-class investment capacity and execution Our growing team continues to maximize value through positive investments. We are industry leaders with proven experience, innovation, and success. P i e r c e e d u c a t i o n P r o P e r t i e s . c o m Contact our acquisitions team at 619-297-0400 or email to discuss potential opportunities. INVESTMENT SPOTLIGHT: The View is a 590-bed, 157-unit community conveniently located just west of the University of Nebraska Lincoln. $850+ MILLION IN ACQUISITIONS For information on features, contact Editor Randall Shearin at Send your news items to Katie Sloan, Associate Editor, at STUDENT HOUSING BUSINESS ®

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