Property Types Multi-Family
Dec 4, 2007
By: Scott Baltic, Contributing Editor
Philadelphia-based Campus Apartments Inc., the nation’s largest privately-held student housing company, has assumed management of a portfolio of nine student apartment communities around the country from ING Real Estate Community Living Fund, Rabil Properties L.L.C. and Corridor Ventures Real Estate.
The properties, totaling 3,315 beds, house students at the University of Toledo, Purdue University, the University of Missouri at Columbia, the University of South Florida and Florida State University.
Campus Apartments president & CEO David Adelman told CPN that the company’s focus remains on acquisition and ownership, but that CA won’t pass up opportunities to manage student housing on a third-party basis, though the company is “very selective” about who they’ll work with.
CA now controls more than 15,000 beds at universities across the country. The company currently owns 145 properties valued at approximately $200 million and is a third-party manager of 67 properties for the University of Pennsylvania.
Last September, CPN reported on Campus Apartments’ acquisition of a portfolio of 10 student housing properties comprising 1,799 units and 4,605 bedrooms. The portfolio, a mix of properties originally built as student housing and traditional garden-style apartments, is spread across six colleges: the University of California at Riverside; the University of Arizona in Tucson; Louisiana State University in Baton Rouge; Southern University, also in Baton Rouge; the University of Central Florida in Orlando; and North Carolina State University in Raleigh.
On the equity side, that transaction was fueled in part by CA’s $1.1 billion venture with the Government of Singapore, Adelman told CPN. He added that as of now, about 40 percent of the $1.1 billion has been deployed.
Demand for student housing continues to grow, especially in certain regions, Norb Dunkel, president-elect of the Association of College & University Housing Officers–International, told CPN. Those regions include the Northeast, Florida and California, he said, while higher-profile schools like the Big 10 and the Ivy League also are seeing strong demand for student housing.
And private-sector partners play a crucial role in the development of much student housing nationally, Dunkel said, by providing development and construction expertise, access to funding and even land. Working with a private-sector partner, he said, is “a great option for a lot of campuses.”
By: Scott Baltic, Contributing Editor
Philadelphia-based Campus Apartments Inc., the nation’s largest privately-held student housing company, has assumed management of a portfolio of nine student apartment communities around the country from ING Real Estate Community Living Fund, Rabil Properties L.L.C. and Corridor Ventures Real Estate.
The properties, totaling 3,315 beds, house students at the University of Toledo, Purdue University, the University of Missouri at Columbia, the University of South Florida and Florida State University.
Campus Apartments president & CEO David Adelman told CPN that the company’s focus remains on acquisition and ownership, but that CA won’t pass up opportunities to manage student housing on a third-party basis, though the company is “very selective” about who they’ll work with.
CA now controls more than 15,000 beds at universities across the country. The company currently owns 145 properties valued at approximately $200 million and is a third-party manager of 67 properties for the University of Pennsylvania.
Last September, CPN reported on Campus Apartments’ acquisition of a portfolio of 10 student housing properties comprising 1,799 units and 4,605 bedrooms. The portfolio, a mix of properties originally built as student housing and traditional garden-style apartments, is spread across six colleges: the University of California at Riverside; the University of Arizona in Tucson; Louisiana State University in Baton Rouge; Southern University, also in Baton Rouge; the University of Central Florida in Orlando; and North Carolina State University in Raleigh.
On the equity side, that transaction was fueled in part by CA’s $1.1 billion venture with the Government of Singapore, Adelman told CPN. He added that as of now, about 40 percent of the $1.1 billion has been deployed.
Demand for student housing continues to grow, especially in certain regions, Norb Dunkel, president-elect of the Association of College & University Housing Officers–International, told CPN. Those regions include the Northeast, Florida and California, he said, while higher-profile schools like the Big 10 and the Ivy League also are seeing strong demand for student housing.
And private-sector partners play a crucial role in the development of much student housing nationally, Dunkel said, by providing development and construction expertise, access to funding and even land. Working with a private-sector partner, he said, is “a great option for a lot of campuses.”
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