Student Housing Industry Veteran Michael Orsak Played Key Part in Company’s Recent Multi-Million Dollar Joint Ventures
AUSTIN, Texas – May 28, 2013 – Campus Advantage, a leading student housing company, has made Michael Orsak a shareholder and promoted him to senior vice president of investments where he will manage the company’s portfolio of real estate and corporate investments, provide guidance on new investment opportunities and reach out to potential new business partners and investors.
Orsak has been with Campus Advantage since 2007 as vice president of acquisitions. In that role, he successfully completed the acquisition of seven properties worth more than $200 million in total value on behalf of the company’s clients. He has been instrumental in initiating and growing Campus Advantage’s partnership with the California State Teachers’ Retirement System (CalSTRS). To date, CalSTRS has made $175 million of commitments with Campus Advantage. Additionally, he played a key role in helping the company close a $150 million joint venture with another major public pension plan. Currently, Campus Advantage has four properties under letter of intent or contract totaling more than $113 million on behalf of its two joint ventures.
“Michael has been a critical part of the Campus Advantage team for more than five years,” said Mike Peter, president and CEO of Campus Advantage. “He is the perfect choice to lead our company’s investment strategy and to help us continue to serve as a leader in the student housing industry.”
While Orsak will continue to oversee acquisitions as senior vice president, his role as senior vice president of investments will include raising capital or securing financing for company investments, evaluating the risks/potential benefits of development opportunities and pursuing new acquisitions that are in line with the company’s business goals. He also will oversee all financial reporting functions related to investments.
Before joining Campus Advantage, Orsak worked at GMH Communities Trust as senior financial analyst and later as assistant vice president. As assistant vice president, he developed a pipeline of $80 million in development opportunities and closed acquisitions totaling more than $400 million. He also spent five years at American Campus Communities working in positions that included director of investments, director of asset management and director of acquisitions. He has played an active role in the acquisition of more than $1.3 billion in student housing real estate. Orsak holds a bachelor’s degree in economics from Southwestern University, a CCIM designation and holds a chair role on the National Student Housing Council.