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Sustainability blog!
March 27th, 2009
Be sure to check out the Campus Advantage Greensite, our new sustainability blog. This is part of our effort to promote sustainable practices, not only in our management processes, but also with our residents. http://www.campusadv.com/green
Useful Student Housing Blogs
January 20th, 2009Here are links to two useful blogs related the Student Housing industry:
http://www.studenthousing.pro
http://www.studenthousingplanet.com
College Towns Are Still A Smart Investment
April 14th, 2008March 13, 2008 BusinessWeek
by Prashant Gopal
A year ago, Jeff Shea began buying up rental properties around the University of Illinois at Urbana-Champaign, from which he had only recently graduated with a business major. Shea, 23, who lives in Chicago, owns three rental homes near campus, including a four-bedroom house he bought for $138,000 and rents to four students for $1,800 a month. Read entire article
Campus Advantage in Globe Street
July 17th, 2007http://www.globest.com/news/949_949/dallas/162302-1.html
Sell Me | in-unit technology
June 19th, 2007As the world becomes more technologically advanced, we are seeing that the internet is playing an increasingly important roll in student housing. From high-tech websites to paying rent online, students, who are at the forefront of the technology movement, are looking for housing that incorporates all of these enhancements. In the following article, Dan Oltersdorf, Vice President of Residence Life, summarizes the measures Campus Advantage has taken to include the technologies that students desire in our communities.
http://www.multi-housingnews.com/multihousing/search/article_display.jsp?vnu_content_id=1003592798
Fire Safety in Student Housing
February 20th, 2007Campus Advantage, as student housing managers, regards the safety of our residents as a top priority. The following article discusses fire safety and the use of fire suppression sprinkler systems in residence halls. Even though this article was based upon studies done in Iowa, this is a problem facing the entire United States. While most new residence halls are being built with these systems, many of the older halls are not equipped with sprinklers. In recent years, more universities and owners of student housing have begun to install these safety systems in their older residence halls, but it is still an issue facing student housing everywhere.
http://www.wcfcourier.com/articles/2007/02/05/news/breaking_news/doc45c7028d1465d213928368.txt
Off-campus housing cuts back expenses
February 2nd, 2007Campus Advantage recognizes that each market will provide students with different challenges; however, an overwhelmingly majority of students point to rate increases as the main source of monetary burden. With our vast experience in student housing management and drawing on our days as students, we try to understand the demand of each market. Speaking with universities and students provide us with the best insight to any rate increases, and we are then able to incorporate this feedback into our market studies. This article is the perfect example of students finding more affordable housing off-campus due to the increase in on-campus room rates.
http://poly.union.rpi.edu/article_view.php3?view=5252&part=1
Student Housing, Without the Scramble
January 29th, 2007Student housing is always evolving, and Campus Advantage hopes to provide for these changing needs. In recent years, a large number of students have left their university for internships around the nation; this provides many challenges for the student. Through effective and personal management, Campus Advantage looks to alleviate the stress to universities and students. Please follow the link to read the entire article.
http://www.washingtonpost.com/wp-dyn/content/article/2006/10/27/AR2006102700016.html
Campus Advantage in the Austin Business Journal
September 15th, 2006Taking Advantage of Building Boom
September 15 , 2006 | Article printed in the Austin Business Journal
Jenny Robertson
If your ideas of student housing consist of bunkbeds and communal bathrooms, throw them all out the window. Today’s college living – both on and off campus – involves resort-like spas and pools, private bedrooms with cable TV and fully stocked kitchens.
With as many as 70 million college students expected to go to college in the next decade, a growing number of investors are building such properties. As the student housing generates buzz as the next hot real estate arena, one local company has piggybacked on its explosive growth by managing the properties.
Campus Advantage, Inc started in 2003 by intentionally avoiding investment in – or construction of – the projects themselves. Instead, the firm chose to specialize in the management of student housing, which differs from traditional apartment housing. Student properties tend to have unique lease situations, more social atmospheres and more people coming and going at different hours of the day.
“It’s the part of the business that no one’s particularly good ad, that no one wants to do,” says Mike Peter, Campus Advantage CEO. “It’s the ‘washing the dishes’ kind of stuff… but it’s opened huge opportunities for us.”
In three years, the company’s staff has quietly grown to 479 – 110 of them in Austin – and it expects to employ as many as 650 people next year. With $900 million in real estate assets under its management, the Austin based firm has 36 locations around the country. Though Peter declines to give specific numbers, he says the privately held company’s revenues have doubled each year since it started.
This month, the company hired Mark Hager as its new chief financial officer. Hager previously held the same position at American Campus Communities Inc. (NYSE: ACC), an Austin-based student housing behemoth that has properties in nearly 20 states.
For its part, Campus Advantage is eyeing other growth opportunities. It wasnts to provide consulting to help clients decide which markets are ripe for housing or work on due diligence projects. With that relationship on the front end, Hager expects more investors would then choose Campus Advantage.
Student housing has changed dramatically since the days of cramped dorm rooms and cafeterias. And with what experts are calling the “echo boom” of future college students, it’s likely to continue.
According to Jim Arbury, senior vice president at the Washington, D.C. – based National Multi Housing Council, many universities don’t have the money or the inclination to build big dormitories anymore. And a study that the council conducted a year ago showed that most universities only had room to house their freshman classes.
Meanwhile, off-campus apartments have gone from a smattering of spare room or mom-and-pop arrangements to large, expensive complexes. This secmester, for instance, American Campus opened an almost $40 million project in Colelge Station with three-story apartment unities, stat-of-the-art soundproofing technology and a gym that rivals those of resorts.
“Now, just about any major campus you go to, you’d see it completely surrounded for a mile or two by apartments,” Aurbury says.
At the same time, companies have adapted tot he changing market. The student housing industry has launched several national, publicly traded companies. It captured the commercial real estate market’s attention in the last two or three years, says Ryan Reid, national director of student housing investment at CB Richard Ellis.
Because some investors consider the projects a little riskier than more traditional real estate, he says, financial returns are generally higher. Both Arbury and Reid say that property management can mean the difference between a successful and unsuccessful investment.
“If you’re a management company with expertise in student housing,” Arbury says, “that’s a big plus.”
Campus Advantage Announces New CFO
August 29th, 2006August 28, 2006
For Immediate Release:
Campus Advantage Announces New CFO
AUSTIN, Texas –(Service)—August 28, 2006—Campus Advantage, Inc. today announced that Mark J. Hager has joined the firm as Executive Vice President & Chief Financial Officer. Mark is the former Executive Vice President & Chief Financial Officer and treasurer of American Campus Communities (NYSE:ACC) in Austin, Texas.
Mark joins Campus Advantage from Lajitas, The Ultimate Resort, where during the last year he has served as interim CFO. He was an executive at ACC from 1999 to 2005 during their most significant period of pre-IPO growth, culminating in the company’s initial public offering as a REIT in August 2004. Previously, Mark also served as Vice President – Finance and Chief Financial Officer for Oklahoma Christian University and Vice President, Corporate Controller for Crested Butte Mountain Resort . Mark is a CPA licensed in Texas and Oklahoma. and has held positions in the assurance practices of Ernst & Young , Grant Thornton and Price Waterhouse. Mark holds a bachelor’s degree in Business Administration–Accounting from Abilene Christian University.
“We are obviously very pleased to have Mark’s exceptional talent and experienced leadership on our team,” said Michael J. Peter, Campus Advantage President and Chief Executive Officer, “his in-depth student housing knowledge and track record for building strong financial and administrative infrastructure is unmatched in our industry. We know his contribution will further our efforts to become the recognized leader in the field of student housing management.”
About Campus Advantage, Inc.
Campus Advantage, Inc. manages & operates over 16,000 student housing beds in 32 communities located on or near college & university campuses throughout the
.
CONTACT:
Michael Peter, President & CEO, 512.472.6222 or www.CampusADV.com