June 4, 2014 | Week 23
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New Student Housing Brokerage Firm Launches

Chris Bancroft, pictured, Chris Epp and Meredith Wolff are now leading FourPoint Student Housing Investments.

Austin, Texas
- Chris Bancroft and Chris Epp have founded FourPoint Student Housing Investments, a primarily disposition-focused brokerage firm based in Austin. Just launched, FourPoint already has three listings. Bancroft, Epp and Meredith Wolff were colleagues running the National Student Housing Group for the investment sales firm Apartment Realty Advisors (ARA). Epp and Meredith Wolff were his partners and colleagues there. At FourPoint, Wolff, whose title is director of national Private Client Services Group, will be responsible for the marketing and client relationships involving student housings assets valued at $10 million or below. Combined, Bancroft, Epp and Wolff have approximately 25 years of real estate brokerage experience. The team will focus on the disposition of any large and small assets.
 
Kim Cory Named President of Annex Student Living           
 
Indianapolis
- Student housing developer Annex Student
Kim Cory
Kim Cory developed forrentuniversity.com in her previous position with For Rent Media Solutions.
Living has named Kim Cory president. Cory, who has more than 15 years of marketing and operations experience in the student housing sector, is responsible for all aspects of leasing and managing Annex properties as well as developing customer relations initiatives to meet the needs of residents, parents, the universities and the communities in which Annex properties reside across the Midwest. The Annex portfolio amounts to more $35 million, and contracts are in place to grow total assets to approximately $100 million by 2016, according to the company. Here's more on Cory's new position.
South City Partners and Gateway Under Construction in Atlanta Near Georgia Tech

Atlanta - South City Partners and Gateway Development are under way on a $49.2 million project near Georgia Tech. Centergy will be a 25-floor, 230-unit, 828-bed building when it is complete in August 2015. The first two floors will be devoted to retail. It is located next to the Centergy One building and Georgia Tech's Technology Square. The total square footage is 325,000, and amenities include a pool, fitness center, a club room with fireplace, and a rooftop terrace with another fireplace and an outdoor kitchen. The general contractor is JE Dunn Construction. Here's more.
Interwest Capital Acquires 876 Beds in Tallahassee Near FAMU and FSU          
 
Interwest
Interior of West 10 in Tallahassee.
Tallahassee, Fla.
- Interwest Capital Corporation, a private equity firm specializing in the acquisition, operations and repositioning of commercial real estate, has closed escrow on the purchase of an 876-bed student housing complex in Tallahassee, Fla. CBRE's National Student Housing Group of Ryan Lang, Jaclyn Fitts and Ryan Reid brokered the transaction. The complex, West 10, is located next to Florida State University and Tallahassee Community College. Florida A&M University's students are within three miles of West 10.   Originally built in 2006, West 10 includes nine garden-style residential buildings on 20 acres. The complex will undergo a major capital improvement campaign of its 11,500 square-foot clubhouse that includes a 2,500-square-foot air conditioned indoor basketball court. Here's more on Interwest's new asset.
Asset Campus Housing Managing Property Near The University of Alabama          
Asset Alabama
University Downs in Tuscaloosa.
 
Tuscaloosa, Ala.
- Asset Campus Housing has been awarded management of University Downs, a 360-bed property located a half mile from the University of Alabama. The community offers one-, two and three-bedroom floor plans. Units have hardwood floors and granite countertops. Amenities include five conference rooms, four study lounges and two pools. The 8,000-square-foot clubhouse features a fitness center, game room, movie theater, executive business center and conference room.
 
Market Profile: Austin, Texas  
The Callaway House
The 757-bed Callaway House Austin, owned by ACC, opened in August 2013.

The University of Texas at Austin is known as an academically competitive university with appeal to prospective students who not only desire its prestigious degree, but who also want to receive their education in one of the most culturally dynamic (and fun) cities in the country.

 

The university keeps its enrollment close to the 50,000 mark, even though the number of applications rises each year, which means UT is extremely selective in the caliber of student it admits. It has a reputation of becoming even more selective each year. Historically, the university itself has housed a very small number of its students. Click here for the rest of the story. 

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