Campus Advantage was contacted in late July 2011 by an interested investor of a multifamily product to provide their expertise on converting a conventional apartment complex in Malibu, CA to student housing. Campus Advantage visited the property, as well as the market, to make observations on whether the project could operate as a student housing community during the academic year. A budget analysis of the existing project was also completed by evaluating current financials to provide projected financials for a student operation.
After careful analysis of the market and review of the financials, Campus Advantage determined that the property had excellent potential to convert to a pure student housing community due to limited supply of rental choices and limited on-campus housing. Campus Advantage also provided recommendations for the conversion to student housing that included implementation of a residence life program, furnishing units with bedroom and living room furniture, and modifications to lease terms and rental rate structures.