AUSTIN, Texas — Campus Advantage is growing its portfolio of managed student housing properties with the addition of 4,000 beds in the past 90 days while also achieving remarkable success in its occupancy, rental rate growth and returning resident ratios for the 2015-2016 academic leasing season.
The company achieved a 96.1 percent occupancy rate among the Campus Advantage-controlled housing portfolio for the school year while delivering an average effective rental increase of 3.5 percent — 100 basis points higher than the 2014-2015 leasing season. The company’s third-party managed properties achieved a record 48 percent resident returning ratio. This year’s leasing numbers further set Campus Advantage apart within the student housing industry for consistently high performance and set a new standard for year over year numbers.
In the past 90 days, Campus Advantage also has added seven properties and 4,000 beds to its growing portfolio of managed student housing properties. These latest additions mean the company now manages 40 properties and more than 25,000 beds across the nation.
One new addition is One Easton in Newark, Del. Campus Advantage just recently took over operation of the property, which will serve the students of the University of Delaware when it opens in the fall. One Easton includes 440 beds, as well as the latest in amenities, such as a gaming room, tea and coffee bar and landscaped courtyard with heated pavilion
“We are excited to bring our proven expertise to One Easton,” Mike Peter, president and CEO of Campus Advantage. “Campus Advantage has built a reputation as being experts in successfully opening and managing new properties. This is a remarkable community at the University of Delaware, and we are going to create a dynamic environment for the students”
Other properties recently joining the Campus Advantage family include:
- Launch in West Lafayette, Ind., serving the students of Purdue University
- Axis 360 in Buffalo, N.Y., serving the students of the University of Buffalo
- Eagles Reserve in Auburn, Ala., serving the students of Auburn University
- Arcadia in Milledgeville, Ga., serving the students of Georgia College
- The Millennium in Norman, Okla., serving the students of the University of Oklahoma
- Broad Street Commons in Plattsburgh, N.Y., serving the students of State University of New York at Plattsburgh
Campus Advantage’s team of experts also are attending this week’s 2016 National Apartment Association (NAA) Student Housing Conference & Exposition in Chicago where Peter will moderate a panel discussion among CEOs of leading student housing companies while other members of his team partner with the Catalyst marketing firm to present a session on brand magnetism and how to create powerful brands in student housing.
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About Campus Advantage
Campus Advantage is an Austin-based real estate firm that offers student housing management, development, acquisition, and consulting services. The company has been creating successful communities since its founding in 2003. Its proven expertise and time-tested approach creates better student living experiences, which in turn creates financial success. For additional information, please visit http://www.campusadv.com.