Austin, Texas — Management of this UT highrise represents the firm's push for growth in the United States.
Austin, Texas — Campus Living Villages (CLV) has been awarded management of Dobie Center, which is owned by Carlton Strategic Ventures. Built in 1972, the tower is an iconic building around Austin. It is 27 stories high, offers full dining services for its residents and is the largest of the privately owned residential options for students attending UT. The adjoining Dobie Mall is a two-level shopping center providing retail and restaurant options to the surrounding area. CLV will be responsible for all of the facilities operations, including the student housing, dining, retail and parking components. Carleton Strategic Ventures is planning several capital improvement projects for the mall and living spaces. CLV transitioned to the management role on Nov. 9.
Kevin Bradt, CLV chief executive officer for the United States, told SHB that this managementassignment represents the firm's next phase of strategic growth in which a larger focus will be placed on obtaining complex management assignments. "CLV is one of the largest players in the market," he says, "but we've also been one of the more quiet players. We're at a point where we want to reintroduce our capabilities to the market, and Dobie shows we can manage complex projects. Those types of deals don't come down the road often."
Bradt says CLV plans to leverage its on-campus experience to create relationships with the universities it works with to tailor its clients' assets to market demands and unique university culture.
CLV manages and owns housing for more than 36,000 students at 53 properties in the United States, Australia, New Zealand and the United Kingdom.