June 11, 2014 | Week 24
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Greystar Real Estate Partners Acquires Riverstone Residential Group 

Charleston, S.C. - Greystar Real Estate Partners has acquired Riverstone Residential Group, in effect uniting the two largest multifamily property management companies in the country. The companies' combined portfolio totals more than 385,000 units.


Earlier this year, Greystar and Riverstone were ranked No. 1 and No. 2, respectively, on the National Multifamily Housing Council's "NMHC 50 Largest U.S. Apartment Managers" list. The companies' combined total assets under management more than doubles that of the No. 3 ranked management company, Lincoln Property Co.


Greystar purchased Riverstone from London-based CAS Capital Limited, a wholly owned subsidiary of Regis Group PLC. "Riverstone is one of the nation's most highly respected multifamily firms, and we are proud to have them join our Greystar family," says Bob Faith, chairman and CEO of Greystar. "Combining forces makes us even stronger, especially in local markets where we are bringing together some of the most talented and experienced multifamily professionals in the industry."


Prior to the acquisition, Greystar's management included units in 35 states and Washington, D.C., while Riverstone's management portfolio included units in 36 states and Washington D.C. The combined portfolio will cover 41 states and the nation's capital. "We are excited to complete this transaction with Greystar," says Nick Gould, chairman of the board for CAS Capital Limited. "The combining of these two great companies represents the realization of our vision to create the highest-quality multifamily residential service provider in the U.S."  


Here's the rest of the story. 

Dorm Designed By Award-Winning Architect Under Construction at University of Chicago            
Studio Gang Architects has designed the residence hall and dining commons that will open in 2016.
- Construction has begun on an 800-bed undergraduate housing development on the north end of the University of Chicago campus. Studio Gang Architects, led by Jeanne Gang, is the architect on the project and is working alongside Mortenson Construction to build the facility, which includes a dining commons. It will open in 2016, and the team is pursuing LEED-Gold certification. Gang has led the design on several award-winning buildings in Chicago, including Aqua, an 82-story, mixed-use residential tower.


Jeanne Gang says the project presents an opportunity to advance the university's goals toward a cohesive, sustainable campus populated by great architecture and strong ties to the Hyde Park community.


"We are excited to develop our design that focuses on creating vibrant student communities within the residence halls, connected to a series of new, active public green spaces and environments," says Gang.


The residence hall will include eight houses of approximately 100 students each, with first- through fourth-year students living together.


Here's more on this project.
InterFace On-Campus Housing Conference to be Held November 5-7 in Orlando 

Orlando, Fla. - The 2nd Annual InterFace On-Campus Housing conference will be held November 5-7 at the Walt Disney World Swan Hotel in Orlando. The event will once again bring together college and university housing and business officers, and on-campus developers, operators and vendors, for high-value education and information sharing, in addition to valuable networking opportunities. Project tours at the University of Central Florida will be "back by popular demand."


Last year's inaugural InterFace On-Campus Housing conference attracted over 260 attendees and received extremely positive reviews from both college and university officials, as well as operators and vendors. Please "save the date" now and put InterFace On-Campus Housing in your calendar. Here is the timeline of the event:


November 5th: Opening Networking Reception, 5:00-7:00 pm


November 6th: Conference 8:00 am-4:30 pm, Networking Reception 4:30-6:15 pm


November 7th: Project Tours at University of Central Florida, 8:30 am-Noon


And perhaps stay the weekend and enjoy some time at Disney.


The conference agenda is in the planning stages and registration will be available soon. For now, please put the November 5-7 dates in your calendar and if you would like to be notified when registration becomes available, please contact Alicia Lewis at (404) 832-8262 or alewis@francemediainc.com. For speaking or sponsorship information, please contact Richard Kelley at (914) 468-0818 or rkelley@francemediainc.com. For exhibiting opportunities, please contact Mark Aden at (404) 832-8262 or maden@francemediainc.com.

Choate Tops Out New Residence Hall 
at West Virginia State University
Each apartment unit in the Keith Scholars Hall on the West Virginia State University campus includes a full kitchen and living room. All units have semi-private bathrooms inside the unit.

Charleston, W.Va. - Choate Construction Company has topped out the new Judge Damon J. Keith Scholars Hall Student Housing Building on the West Virginia State University campus in Charleston. The building will be completed in August before the new school year begins.


The student housing building sits on the main campus green of West Virginia State University, located between the student union and campus quad.  Within the 88 residential units capable of housing 291 students, there are 10 apartment units for graduate students and research assistants from around the world, and 78 single-occupancy, suite-style dorms.


Each apartment unit includes a full kitchen and living room, and the suite-style units contain a small common area.  All units have semi-private bathrooms inside the unit.  Building amenities include five separate, shared laundry facilities; a large meeting room with capacity for 150 people; coffeehouse café; lounge and game room; and study lounge.


The project developer, Ambling University Development Group of Valdosta, Ga., is working with architecture firms Niles Bolton Associates of Atlanta and Silling Associates of Charleston. Pray Construction of Scott Depot, W. Va., has partnered with Choate to provide various construction support.

Northeastern State Kicks Off On-Campus New Construction And Renovations

Tahlequa, Okla. - A project that consists of construction of one new residence hall and renovations of two existing residence halls is under way on campus at Northeastern State University. The new construction, the first in 13 years, will build 344, semi-suite-style beds. Renovations of Wyly Hall will upgrade the exterior shell and interior spaces including lobbies, lounges, restrooms and individual student rooms. Wyly Hall has 134 traditional residence hall living spaces within 26,452 square feet. In addition to the surface renovations, the mechanical systems will be updated to more energy efficient equipment. Leoser Hall renovations will focus on mechanical equipment and spaces that deliver heating, cooling and hot water to the approximately 600 residents. The Regional University System of Oklahoma (RUSO) Board approved the $15 million project through the Oklahoma State Regents of Higher Education's Real Property Master Lease Program.
Stay A Step Ahead Of Big Changes Coming To The U.S. Postal Service  

As the semester winds to a close and student housing communities across the nation settle in for the long hot summer, minds are usually anywhere but at your apartment community's mailbox. Thoughts of prepping for the mass return of students are quickly brushed away with images of swimming pools and relaxing in the sun. Mail delivery is rarely a consideration, and why should it be? It's never been before. But don't ignore the possibilities of a change, because the post office is looking for and thinking about new ways that can save money. This could mean that as an operator, you may be stuck with new time challenges and expenses like you've never experienced. I should know. I am a retired United States Postal Service (USPS) postmaster, and I am going to share with you what is likely coming your way.

Here is the rest of Scott Pope's column. Pope is the director of operations for The Postal Solutions Company.
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