Student Housing Company Adds Seven Properties, Signs Significant Investment Deals
AUSTIN, Texas – May 21, 2013 – Campus Advantage continues to exceed student expectations when it comes to the places they call home, according to company highlights from the first part of 2013. Its current Fall 2013 lease-up rates are already 6 percent higher than at the same time last year, and the company is seeing a slew of new business deals.
Campus Advantage already has seen a steady increase in new business. It announced in January a second, $75 million joint venture with the California State Teachers’ Retirement System. Another $150 million joint venture with a major public pension plan was finalized in February. And, on March 3, the company celebrated its 10th anniversary.
“We are on the path to a record year in 2013,” COO Scott Duckett said. “We are securing significant new business, and our Fall 2013 leasing rates are at a record pace for our company. Our mission is to help our students prepare to live happy, successful lives after college through innovative Residence Life programs. Our high lease rates and renewals show that we are doing our job well and that our residents value this investment in their futures.”
During the first few months of 2013, Campus Advantage added seven properties that bring 3,070 total new beds to its student housing portfolio so far in 2013. These properties represent an effort by the company to expand its presence in underserved student housing markets around the nation. They bring the company’s total number of managed properties to 51 communities in 18 states with a total bed count of more than 26,000.
The properties added to the Campus Advantage portfolio this year include:
University Edge, Hattiesburg, Miss. – The property serves students attending the University of Southern Mississippi. Amenities include a clubhouse, fitness center, planned social activities and outdoor pool and volleyball court.
The Union, Corvallis, Ore. – The property serves students attending Oregon State University. Located just two blocks from the university, The Union’s amenities include a car share program, community and edible gardens, covered bike parking and a study room and fireplace lounge.
Saint Thomas Aquinas Newman Hall, Kingsville, Texas — The property serves students attending Texas A&M University-Kingsville. This new community features expanded learning opportunities, an active social calendar and a faith-based living environment.
42 North, Tampa, Fla. – The property is just a half a mile from the University of South Florida. Units feature hardwood-style floors, designer furnishings, flat-panel HD-TV and all-private bathrooms.
Sebastian Village, Greensboro, N.C. — This property is conveniently located next to North Carolina A&T State University and Bennett College. Amenities include ample study hall space, high-speed Internet and all-inclusive rent.
Sterling Park, Greensboro, N.C. — This apartment community’s prime location gives students a short walk to University of North Carolina-Greensboro and is less than a 10-minute drive to Greensboro College.
University House, New York City (Manhattan), N.Y. – This property will be the premier student accommodation located in Manhattan, serving multiple universities and colleges. The project is located in the East Village neighborhood and is surrounded by an active student zone.