The Campus Advantage Quarterly Newsletter – CAMPUS ADVOCATE SPRING 2019
Spring has officially sprung, and what an exciting time it’s been here at Campus Advantage! In March, we hosted our second annual Cornerstone Summit at our headquarters in Austin, Texas, in conjunction with the 2019 World Golf Championship Dell Technologies Match Play golf tournament. Not only was it time well spent networking and hosting educational sessions, but doing so alongside our incredible staff and clients while watching some of the best golf in the world was extremely rewarding. We’re already looking forward to next year and hope you’ll be able to join us, along with other industry leaders, to explore more trends and best practices in student housing — and maybe another Tiger sighting!
We recently announced exciting updates to two new student housing properties currently in development, The Bridge on Forbes and Liv+ Gainesville.
In April, we celebrated the official groundbreaking of Liv+ Gainesville — a new four-story, 235-unit property located near the University of Florida. Executives from both Campus Advantage and Stark Enterprises were joined by Gainesville Mayor Lauren Poe for the ceremonial dig and the post-ceremony reception, which was held at The Social at MidTown.
In addition, The Bridge on Forbes, a 10-story, 473-bed student housing community located near the University of Pittsburgh, reached 99% pre-lease status for fall 2019. We’re very pleased to see the traction being made on both of these projects, as well as the strong interest already displayed in each property’s communities, and are confident that we will create an environment that exceeds both future resident and community expectations. We look forward to providing more updates on these properties down the road!
Since our founding in 2003, we’ve always aspired to put our people and residents first, and are constantly evaluating how to improve the service we provide. This is why I’m excited to share that, in an ongoing effort to improve upon that aspiration, we recently developed the E3 Service Standards — a new set of service standards for all of our properties. As you’ll read in this newsletter, these new standards are being put into place to ensure we continue to excel in providing rewarding living, learning, and career experiences to all of our residents. We’re hopeful that these standards will raise the bar in our residents’ housing experience, and we look forward to rolling these out to our properties in the near future.
As you read through this newsletter, I hope you gain insight into the latest happenings at Campus Advantage and see how we continually strive to serve and inspire our teams to achieve their full potential, which makes a positive impact on our staff, our properties, our clients, and the entire student housing industry.
In the meantime, thank you for your ongoing support, hard work, and dedication to making Campus Advantage the place to be. Happy spring!
President and CEO
Recap of Cornerstone Summit/Dell Match Play
In March, Campus Advantage hosted its second annual Cornerstone Summit at its Austin, Texas headquarters. This educational event provided informative sessions and networking opportunities for clients and investors within the student housing space. The event coincided with the World Golf Championship Dell Technologies Match Play, also in Austin.
Attendees benefited from a morning educational session hosted by the Campus Advantage executive team, with topics ranging from underwriting and deploying value-add strategies to achieving year-over-year effective rent growth using a revenue management tool. Topics discussed were tailored to speak to industry trends with the underlying theme of driving returns for investors.
Following the educational sessions, attendees spent the afternoon at the Austin Country Club enjoying the Dell Technologies Match Play golf tournament in a private tent on the 15th fairway. It was an exciting week of education, networking, and championship golf.
CA Leaders Fill InterFace Student Housing Conference
Four members of our leadership team — Jenn Cassidy, Scott Duckett, Michael Orsak, and Madison Meier — spoke or moderated at this year’s InterFace Student Housing Conference hosted by France Media’s Student Housing Business magazine and the InterFace Conference Group. We’re proud of our leadership that remains at the forefront of the student housing industry!
Liv+ Gainesville Groundbreaking
On April 16, Campus Advantage and Stark Enterprises celebrated the official groundbreaking of Liv+ Gainesville — a new student housing property located near the University of Florida in Gainesville. Executives from both Campus Advantage and Stark Enterprises joined Gainesville Mayor Lauren Poe to conduct the ceremonial dig. A post-ceremony reception was held at The Social at MidTown. Adding our footprint to this community is an exciting moment for our company, and we look forward to bringing our property management expertise, as well as our exceptional operations team and training programs, to the future residents of Liv+ Gainesville and the community.
Check out our latest case study to see how Campus Advantage achieved an 11% increase in pre-leasing velocity for The Wyatt — a 700-bed, purpose-built student housing property serving Western Michigan University.
New E3 Service Standards Reflect Our Mission
In an effort to continually raise the bar in how we interact with residents and staff, the Students First® Experience Department has developed an improved set of service standards for all properties.
The E3 Service Standards embody our mission to create financially successful communities that excel in providing rewarding living, learning, and career experiences by providing a consistent model that will ensure each property is giving residents and staff the best experience possible. The E3 Service Standards center on three foundational principles:
- Everyone Is Important: When it comes to providing the Campus Advantage Experience, remember that everyone who comes in contact with you or your community is important! These standards ensure consistent delivery of the experience to everyone.
- Every Team Member Is Responsible: Every member of the Campus Advantage team is responsible for delivering the Campus Advantage Experience. This requires shared ownership and team communication to ensure the highest possible level of service.
- Everything Speaks: If you can see it, hear it, smell it, touch it, taste it, or feel it, it speaks to the experience. Every aspect of what we do speaks into the overall Campus Advantage Experience.
We’re excited about the E3 Service Standards and its role in ensuring that every person who interacts with Campus Advantage feels important and valued. We are confident that the E3 Service Standards will continue to propel our success as a student housing and resident experience leader.
Student Housing Investments
Are you or is someone you know interested in an opportunity to invest in student housing? Campus Advantage specializes in all aspects of student housing, from operations, marketing, and consulting to development and acquisition, and has delivered excellent returns for over a decade. Contact our Acquisitions and Development Team to learn more.
Our Latest Blog Posts
Market Assessment: The Second Prong in the Due Diligence Process
Campus Advantage has performed due diligence consulting on over 75 properties and manages each engagement with a two-fold approach to help investors assess an acquisition’s potential. Verifying an asset’s physical condition and financial performance is an imperative step of the due diligence consultant’s process; however, evaluating where an asset fits within the marketplace also is crucial to determining the success of an investment strategy. Read more.
Merging the Gap Between Student Housing and Conventional Housing
Over the past decade, student housing has changed drastically. Today’s graduated millennial has no memories of stark cinder block dorms. No, they experienced resort-style convenience and amenities. Student housing has evolved and so have the expectations of that millennial generation (now ages 22–37). Here’s what the traditional apartment industry can learn from student housing about attracting and serving young professionals. Read more.
Student Housing Management: What Students Want from Residence Life
The residence life program offered by a student housing manager is critical to supporting the college experience, student satisfaction, and student success. At Campus Advantage, we conduct an annual survey of our residents to learn more about what they’re looking for in their living experience so we can incorporate their preferences into our robust Students First® Experience. Read on for the results from our 2018 survey. Read more.
- Brittney Ashley promoted to Senior Accountant
- Nick Nunium promoted to Senior Accountant
- Armin Rakhshandeh promoted to Accounting Manager
- Minoak Song promoted to Finance and Accounting Supervisor
- Christopher Beck promoted to Sr. Market Analyst
- Kendra Kennedy promoted to Creative Team Lead
- Jennifer Balderrama promoted to Operations Manager
- Daniel Russo promoted to Lead Developer
She’s a Survivor
Tatianna started her time with Campus Advantage as a Community Assistant for the Timbercrest at Carrollton property in 2017, and was promoted to Resident Director just three months later, indicating her stellar work ethic and passion for student housing.
We’re excited to announce that The Bridge on Forbes, our new student housing development in Pittsburgh, has reached 99% pre-lease for fall 2019! Currently in development in partnership with Pinecrest, The Bridge on Forbes will welcome its first residents this fall. When completed, the property will have 197 fully furnished apartments with 473 beds available in studio, one-, two-, and three-bedroom layouts.