Student Housing Business

MAR-APR 2018

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

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Page 18 of 128

NE WS IN BRIEF March/April 2018 18 ASSET CAMPUS HOUSING AWARDED MANAGEMENT OF 224- BED COMMUNITY NEAR INDIANA STATE Terre Haute, Ind. — Asset Campus Housing has been awarded manage- ment of Highland Quarters, a 224-bed student housing community lo- cated near Indiana State University in Terre Haute. The property offers fully furnished, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a resident lounge, technology lab, private and group study areas, a 24-hour fitness center, on-demand virtual fitness classes, stand-up tanning, delivery lockers and on-site retail. SAFANAD LIMITED, VIE HOLDINGS ACQUIRE STUDENT HOUSING COMMUNITY IN METRO D.C. FOR $69.5 MILLION Hyattsville, Md. — Dubai-based Safanad Limited, in partnership with Miami-based Vie Holdings, has acquired The Towers at University Town Center, a student housing community in Hyattsville, for $69.5 million. The name of the seller was not disclosed. The community is located sev- en miles northeast of Washington, D.C., and caters to students attending Howard University, the University of Maryland and other colleges and universities in the metro D.C. area. The new ownership will invest $5 million to renovate the property with new rooftop finishes, expanded services, upgraded units and additional facilities. The property compris- es a 16-story building and a 17-story building featuring two-, three- and four-bedroom units. In addition, the community is located within walk- ing distance to two Metro subway stations and its amenities include a pool, business center, 24-hour security services and garage parking. PEAK CAMPUS AWARDED MANAGEMENT OF TWO COMMUNITIES IN ALABAMA, OKLAHOMA Tuscaloosa, Ala. and Stillwater, Okla. — Peak Campus has been awarded management of two student housing properties in Alabama and Okla- homa. Properties include Progress405, a 544-bed, garden-style commu- nity located near Oklahoma State University in Stillwater; and Riverfront Village, a 440-bed community located near the University of Alabama in Tuscaloosa. Progress405 offers one-, two- and four-bedroom units with bed-to-bath parity. Shared amenities include a 24-hour fitness cen- ter; clubroom with a lounge area, fireplace and a billiards room; study lounge; resort-style pool; sand volleyball court; and hammock gardens. Riverfront Village offers one-, two- and three-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a state-of-the-art fitness center, resort-style pool, poolside gas grills and a computer lab. CHAIN BRIDGE CAPITAL ACQUIRES 816-BED COMMUNITY NEAR JAMES MADISON UNIVERSITY Harrisonburg, Va. — Chain Bridge Capital has acquired North 38, an 816- bed student housing community located near James Madison University in Harrisonburg. The property offers three- and four-bedroom, fully fur- nished units. Shared amenities include a resort-style pool, fitness center, tanning beds, a spa, game room, computer lounge, basketball courts, bar- becue grills and a clubroom. Planned renovations at the property include upgrading internet service, flooring and lighting, as well as the addition of new smart televisions, a shuttle bus and premium furniture in select units. The seller and terms of the transaction were undisclosed. Shared amenities at North 38 near James Madison University include a resort- style pool.

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