Student Housing Business

MAY-JUN 2018

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

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INNOVATOR AWARDS May/June 2018 81 Off-Campus: Best Bandwidth and Connectivity Solution American Campus Communities and Pavlov Media American Campus Communities In 2017, American Campus Communities had five properties in College Station, Texas, near Texas A&M University that needed technology upgrades. The company began working with Pavlov Media to discuss the needs and the bundling of data services for each site. ACC's properties are now connected to Pavlov Media's 10-gigabit fiber optic network across the city of College Station. In addition, ACC was able to reduce their MRC for data services, improving profitability while improving occupancy. Off-Campus: Best Use of Green/Sustainable Construction/ Development The Suites at Third American Campus Communities The Suites at Third is a "LEED for Homes Multifamily Midrise v3 Gold" certified building developed in 2017 to serve the over 47,000 students attending the University of Illinois in Urbana- Champaign. Environmentally friendly choices in development included orienting the building to provide more natural light into public spaces, reducing vehicular parking, reduced energy consumption and the implementation of a recycling program. Off-Campus: Best Turnaround Project/ Value Add Avery by Aspen Heights Aspen Heights Aspen Heights embarked on its first acquisition with Harrison Street to renovate and reposition Avery in Fresno, California, formerly known as Castle Rock. Through moderate capital improvements and significant work around image and rebranding, the company was able to increase rents year-over-year, and boost occupancy from 70 percent as of August 2016 to 95.7 percent in 2017. Off-Campus: Best Implementation of Mixed-Use The Standard at Gainesville Landmark Properties The Standard at Gainesville development near the University of Florida features 59,000 square feet of retail occupied by tenants such as Target and Chick-fil-A, and a connected AC Marriott hotel. Off-Campus: Best Financing Solution $707 Million Portfolio Walker & Dunlop The portfolio included 23 properties and 13,666 beds across 20 univer- sity campuses. The sponsor needed to close by year-end, which gave the lender less than 45 days from signed application to underwrite and fund a more than $700 million cross-collateralized credit facility with three separate tranches of fixed and floating rate debt. Off-Campus: Best Architecture/Design Project with Less Than 400 Beds Stonefire Berkeley Landmark Properties Designed in conjunction with architecture firm Johnson Lyman Architects, the property's exterior includes dramatic glass statements and alternating light wells to build interest and an urban presentation on the street, and an eighth level penthouse provides views of the San Francisco bay. The property is located near the University of California, Berkeley. Off-Campus: Best Renovation of an Existing Project The Alabama by Collegium Collegium Capital The Alabama, located in New York City, was built in 1902 as a hotel, and was acquired by collegium in 2016. The company undertook a $14.5 mil- lion comprehensive gut renovation for delivery ahead of the 2017/2018 academic year. Off-Campus: Best Architecture/Design Off-Campus Project with More Than 400 Beds The James Core Spaces The 12-story property, designed in conjunction with architecture firm Antunovich Associates, features an exterior with patterns of red and painted brick mixed with steel to create an urban feel. The interiors utilize contemporary and colorful details, with flexible spaces for common areas that allow tenants to study, play and socialize within the same areas. The property is located near the University of Wisconsin. Off-Campus: Best New Development – Boutique School House Lofts Eastmark Capital Group School House Lofts is an adaptive reuse project of a historic high school converted into purpose-built student housing near Eastern Washington University. The auditorium was repurposed to become a study area while doubling as a theater for movie night, and the gymnasium was repur- posed to become a game room and provide an area for students to social- ize with the running track balcony, historic bleacher seating, gym flooring and basketball hoop restored for student use. Off-Campus: Best New Development with Less Than 400 Beds Hub U District Core Spaces The Hub U District in Seattle, Washington — designed by studio 19 archi- tects — is a seven-story, 248-bed, mixed-use student housing project serv- ing the students attending the University of Washington (UW) in Seattle. The Hub U District opened in the fall of 2017 100 percent occupied and was incredibly popular with students. Off-Campus: Best New Development with More Than 400 Beds 114 Earle Campus Apartments 114 Earle is a 706-bed student housing community located in Clemson, South Carolina. The project is located in the heart of downtown, just blocks from Clemson University. It is the only purpose-built commu- nity in downtown Clemson that is owned fee-simple, and it required the assemblage of 24 parcels each with different ownership. Aspen Heights' Avery project in Fresno, California, won the award for Best Turnaround Project/Value Add for off-campus projects.

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