Student Housing Business

MAR-APR 2018

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

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PEAK CAMPUS AWARDED MANAGEMENT OF TWO COMMUNITIES IN FLORIDA, NORTH CAROLINA Charlotte, N.C. and Tampa, Fla. — Peak Campus has been awarded management of two student hous- ing communities that will open this fall in North Carolina and Florida. The properties are Ha- ven46, a 542-bed, mid-rise com- munity located near the Univer- sity of South Florida in Tampa; and Haven49, an 887-bed, mid- rise community located near the University of North Carolina at Charlotte. Haven 46 offers two-, three-, four- and five-bedroom, fully furnished units with bed-to- bath parity. Shared amenities in- clude a fitness center, resort-style pool, outdoor kitchen with built- in grills, clubhouse, covered park- ing, a large central courtyard, a lawn area with a sundeck and fire pits. Haven 49 offers one-, two-, four- and five-bedroom, fully fur- nished units with bed-to-bath par- ity. Shared amenities include a cy- ber-lounge with charging stations, fitness center with on-demand classes, computer center with pri- vate study rooms featuring Smart- TVs, and a resort-style pool with cabanas. Both projects are being developed by Haven Campus Communities. CREI ACQUIRES TWO STUDENT HOUSING COMMUNITIES IN ALABAMA, MISSISSIPPI Hattiesburg, Miss. and Tuscaloosa, Ala. — Capstone Real Estate In- vestments (CREI) has acquired two student housing communities located in Tuscaloosa, Alabama, and Hattiesburg, Mississippi. Ac- quisitions include Boardwalk at Dewberry Landing located near the University of Southern Missis- sippi; and Boardwalk at Brittain Landing located near the Univer- sity of Alabama. Both communi- ties are set to undergo rebranding, and will begin renovations in- cluding extensive unit upgrades; the conversion of four-bedroom units to one-, two- and three-bed- room units; and common area im- provements. Renovations will be complete by the end of 2019. The seller and terms of the transaction were undisclosed. PILLAR ORIGINATES $14.1 MILLION REFINANCING FOR 53-UNIT COMMUNITY NEAR THE UNIVERSITY OF INDIANA Bloomington, Ind. — Pillar Finan- cial, a division of SunTrust Bank, has originated a $14.1 million refinancing for Urban Station, a 53-unit student housing com- munity located near the Univer- sity of Indiana in Bloomington. Joe Markech, managing director in Pillar's Chicago office, origi- nated a fixed-rate, 12-year term loan with a 30-year amortization schedule on behalf of a Blooming- ton-based borrower that develops and manages student housing and multifamily properties in In- diana. The financing was sourced through Mike Dury of PR Mort- gage & Investments. The property offers one-, two-, three- and four- bedroom units. Shared amenities include a business center, electric grill, fitness center, game room, music practice room, outdoor fire- place, outdoor movie theater, pool with sundeck and a putting green. CA VENTURES PLANS $500 MILLION INVESTMENT IN EUROPEAN STUDENT HOUSING, MULTIFAMILY PROPERTIES Chicago — Chicago-based CA Ventures has announced plans to invest $500 million over the next five years into European hous- ing markets, with a focus on pur- pose-built student housing and multifamily properties. The firm is currently developing two stu- dent housing projects in Poland — 700 beds in Krakow and 400 beds in Warsaw — and is in nego- tiations to acquire properties and development sites in the U.K, the Netherlands, Germany, Spain, Ire- land and the Czech Republic. "CA has been an innovator in student housing in the Americas for over a decade and, as a team, we've been evaluating the European housing market closely for several years," says Tom Scott, CEO of CA Ven- tures. "We believe the market for purpose-built student housing in Europe is poised to benefit from growing university enrollments, increasing consumer adoption and a very limited supply of ame- nitized housing." Consulted on joint venture partnership for the construction of a 109-unit, 347-bed student housing community located near the University of Texas in Austin. This transaction continued the firm's successful relationships with 908 Group and Scannell Properties. Nine at Rio Consulted on bridge financing of a 192-unit, 796-bed student housing community located near Texas A&M University in College Station. This transaction continued the firm's successful relationships with Landmark Properties and Harrison Street Real Estate Capital. The Retreat at College Station Campus Lodge at Gainesville Consulted on acquisition financing of a 360-unit, 1,115-bed student housing community near the University of Florida in Gainesville. This transaction continued the firm's successful relationships with Coastal Ridge Real Estate and H. Katz Capital Group. Featured Deals: For more information on TSB Capital Advisors & its services, contact Timothy S. Bradley 480.626.4416 | | March/April 2018 14 NE WS IN BRIEF

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