Student Housing Business

JAN-FEB 2018

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

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Page 22 of 88

NE WS IN BRIEF January/February 2018 22 FOURPOINT, BLUEGATE ARRANGE SALE OF 674-BED COMMUNITY NEAR RUTGERS UNIVERSITY New Brunswick, N.J. — FourPoint Investments and BlueGate Partners have arranged the sale of Rockoff Hall Apartments, a 674-bed student housing community located within walking distance of Rutgers Uni- versity in New Brunswick. The property offers one-, two- and three- bedroom units. Shared amenities include a cyber café, on-site laundry, a fitness center, discounted parking in the attached garage, study rooms on every floor and a club room with billiards and shuffle board. The names of the buyer and seller were not disclosed. Pinnacle Campus Living IS SWEEPING THE NATION! Pinnacle Campus Living is the brand for Pinnacle's student portfolio of more than 17,000 beds. Headquartered in Dallas, the platform is driven by student-focused operators who draw upon Pinnacle's robust nationwide platform of 165,000 units and 4,100 employees. Let us show you how Pinnacle Campus Living can exceed your investment expectations. 35 COMMUNITIES 17,000 BEDS 26 UNIVERSITIES 75 YEARS/EXPERIENCE Rick Graf | Chief Executive Officer Ph. (214) 891-7846 Ted Broadfoot | Executive Vice President Ph. (214) 891-7802 Andrew Stark | President Ph. (212) 257-4841 The Rockoff Hall Apartments community is located within walking distance of Rutgers University in New Brunswick, N.J. FourPoint Investments and BlueGate Partners recently brokered the disposition of the property. JOINT VENTURE ACQUIRES RESA, SPAIN'S LARGEST STUDENT ACCOMMODATION PROVIDER Barcelona, Spain — A joint venture has acquired Barcelona-based Resa, the largest student housing accommodation provider in Spain. The partnership includes Greystar Real Estate Partners, and clients of AXA Investment Managers - Real Assets and CBRE Global Invest- ment Partners. The undisclosed clients of AXA Investment and CBRE have acquired the substantial majority holding, and Greystar has pur- chased the remaining balance and will act as property, development and asset manager to the portfolio. Resa is Spain's market leader in student accommodation, managing 9,309 student beds in 19 Spanish cities including Madrid, Barcelona, Andalucía, Cataluña, Galicia, Na- varra, Pais Vasco, Salamanca and Valencia. The portfolio will continue to trade under the Resa brand, with Greystar assuming responsibility for overall management. Resa will operate as a fully Greystar-owned and managed business. To support the company's recent expansion into Spain and broadening reach across Europe, Greystar has named Juan Acosta managing director for Greystar in Spain. In this position, Acosta will lead the team and be responsible for client relationships, executing the existing portfolio and growing the business through strategic acquisitions and development. "The Resa portfolio is un- doubtedly Spain's premier student accommodation provider and will provide Greystar with a significant presence in the prime markets of Madrid and Barcelona on which to build out a diversified Spanish rental housing platform," says Wes Fuller, executive managing direc- tor of Greystar's investment management business. "We are excited by the tremendous opportunity in the country, and look forward to bringing Greystar's proven business model and institutional capital to the Spanish market for the long term."

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