Student Housing Business

MAY-JUN 2018

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

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NE WS IN BRIEF May/June 2018 10 PEAK CAMPUS HIRES HEATHER WILLIAMS AS VICE PRESIDENT OF MARKETING Atlanta — Atlanta-based Peak Campus has hired Heather Wil- liams as vice president of market- ing. In her new role, Williams will lead Peak's marketing team as it continues to serve the company's portfolio and ongoing growth and expansion within the student housing sector. Williams will be responsible for maintaining high standards for brand strategy and will have oversight of media plan- ning, advertising and corporate communications. She will also provide platform-level, as well as asset-specific, direction of market- ing and leasing strategies for the company's management portfo- lio. Williams brings over 20 years of property management experi- ence. Most recently, she worked as the director of marketing at Greystar, overseeing all marketing strategies for over 55,000 units at 265 properties. COASTAL RIDGE ACQUIRES 718-BED COMMUNITY NEAR THE UNIVERSITY OF TENNESSEE Knoxville, Tenn. — Coastal Ridge Real Estate has acquired Crowne at Campus Pointe, a 718-bed stu- dent housing community located at 2240 Grand Ave. near the Uni- versity of Tennessee in Knoxville. Coastal Ridge purchased the property from Crowne Partners. The property offers one-, two- and three-bedroom units. Shared amenities include a resort-style swimming pool and sundeck; a fire pit area; an outdoor cooking space with multiple gas grills and big screen televisions; a 24-hour fitness center; a clubhouse with billiards; a 24-hour study center with computers; a coffee lounge; and a large dog park. Ryan Lang and Bo Flurry of ARA Newmark represented the seller in the trans- action. The terms of the sale were undisclosed. HORIZON REALTY ACQUIRES 384-BED COMMUNITY NEAR THE UNIVERSITY OF CENTRAL FLORIDA Orlando, Fla. — Horizon Realty Advisors has acquired The Quad, a 384-bed student housing com- munity located near the Univer- sity of Central Florida in Orlando. The property offers fully furnished townhomes. Shared amenities in- clude a resort-style pool, state-of- the-art fitness center, clubhouse and computer lab. Chris Epp, Chris Bancroft and Meredith Wolff of FourPoint Student Housing In- vestments represented the seller, an affiliate of Chance Partners, in the transaction. Terms of the sale were undisclosed. KEYBANK ORIGINATES $247.8 MILLION FINANCING FOR COMMUNITY NEAR USC Los Angeles — KeyBank Real Estate Capital has originated a $247.8 million Freddie Mac, first mortgage loan for The Lorenzo, a student housing community lo- cated in Los Angeles. The prop- erty was developed in 2015 and is 95 percent leased to students from the University of Southern Cali- fornia (USC), the Fashion Institute of Design and Merchandising and Loyola Law School. Shared ame- nities include a three-story fitness center with rock climbing walls, basketball courts and an indoor jogging track; an on-site restaurant with room service; media rooms; study rooms; libraries catering to different colleges; multiple swim- ming pools; saunas; and sand vol- leyball courts. Robert Prouty of KeyBank's Commercial Mortgage Group arranged the fixed-rate loan with a seven-year interest only term, which was used to refi- nance existing debt. The owner of the property was undisclosed. Capital Ridge Real Estate has acquired Crowne at Campus Pointe, located near the University of Tennessee in Knoxville.

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