Chicago — Core Spaces has announced a number of executive team updates, including the naming of John Wieker as chief financial officer, Brendan Miller as chief investment officer of student housing, and Cliff Payne as chief investment officer of build-to-rent. As CFO, Wieker will oversee fundraising, asset management and financial reporting activities across the company’s student housing and build-to-rent platforms. Lucero Castellanos will continue to lead the expansion of the finance and accounting functions across Core’s residential real estate platform and will report to Wieker. As chief investment officer of …
Chicago — Harrison Street has sold two student housing portfolios totaling over 23,000 beds for a combined $1.9 billion. The Chicago-based firm sold a 12-property portfolio totaling 8,182 beds to Global Student Accommodation (GSA) and a 25-property portfolio totaling 15,817 beds to a joint venture affiliated with The Scion Group. Both transactions were brokered by Peter Katz and Institutional Property Advisors (IPA) Student Housing. The portfolio sold to GSA — which includes The Hub at Tucson near the University of Arizona — is located across 12 university markets. The communities …
Chicago — Michael Hales is set to depart his role as president of CA Student Living (CASL). Hales has served in a number of positions within the Chicago-based firm, including chief financial officer and chief operating officer. The company’s board of directors has opened up an executive search to identify a presidential candidate, with Sean Spellman and Thierry Keable to act as interim presidents until the decision has been made. Spellman and Keable will be working alongside Hales and members of the board to ensure a seamless transition over the …
Chicago and Charleston, S.C. — Harrison Street has acquired a minority interest in a five-property portfolio of on-campus communities as part of its joint venture with Greystar Real Estate Partners. The five communities total 3,833 beds and are located at Cornell University, Boise State University, Lehigh University, Mississippi University and Northern Michigan University. The portfolio has an average age of three years and is comprised of 1,456 one-, two-, three- and four-bedroom units. Greystar will continue the day-to-day operation and management of the portfolio in collaboration with the universities’ housing …
Chicago — The Scion Group has hired Kenneth Funk as senior vice president of operations. Prior to joining The Scion Group, Funk worked as senior vice president of operations for Great Wolf Resorts and vice president of Walt Disney Theme Parks Strategic Planning. “Scion’s operating platform is already among the strongest and most sophisticated in the student housing industry,” says Robert Bronstein, president of The Scion Group. “But we recognize that our nascent sector needs to look much more broadly to learn from what’s truly the state-of-the-art of for complex …
Chicago — Chicago-based Alliant Credit Union has provided over $51 million in financing for three student housing properties located near Louisiana State University (LSU) in Baton Rouge, Baylor University in Waco, Texas, and the University of Tennessee in Knoxville. In Baton Rouge, Alliant provided acquisition financing to Versity Investments for a student housing property comprising 244 residential units and 466 beds. Located one mile south of the LSU campus, the property was 100 percent occupied at the time of sale for the 2021/2022 school year. The undisclosed seller completed renovations …
Chicago — JLL’s Public Institutions division has added Eric Conrad as executive vice president of education. In his new role, Conrad will be responsible for working with the Chicago-based company’s clients and existing teams to drive facilities management, transactions, public-private partnerships, project management and technology strategies. “Eric is an expert at instituting smart real estate strategies that help institutions thrive,” says Kevin Wayer, president of JLL Government and Education. “Both K-12 schools and universities continue to face challenges in ensuring the health and safety of their students, faculty and staff …
Chicago — Core Spaces has announced a partnership with Grammy-award winning DJ White Shadow, also known as Paul Blair. Through the partnership, Blair has curated music playlists specifically for Core Spaces residents at home and on-the-go through the company’s Lifestyle resident mobile app. His playlists will also be used in many of the amenity areas within each property. In addition, Core Spaces and DJ White Shadow plan to focus on resident events and exclusive content centered around personal development and creativity. “I, like most creatives, had a difficult journey coming into …
Chicago — Blue Vista Capital Management has formed a joint venture partnership with Koramco Asset Management, one of South Korea’s top real estate investment management firms, and a second South Korean institution to acquire core student housing assets across the U.S. The partnership recently acquired Villas on Rio, a 856-bed property at the University of Texas at Austin, and recapitalized Theory Syracuse, a 601-bed property at Syracuse University. These initial student housing investments represent approximately $250 million in total combined asset value. “Blue Vista is proud to be the partner …
Chicago — CA Student Living has completed four student housing communities totaling 2,241 beds. Deliveries include HERE Atlanta, a 784-bed property located near the Georgia Institute of Technology in Atlanta; Uncommon Flagstaff, a 587-bed community serving students attending Northern Arizona University in Flagstaff; HERE Tuscaloosa, a 430-bed property located near the University of Alabama campus; and IDENTITY Davis, a 440-bed community serving students attending the University of California, Davis. HERE Atlanta offers studio through five-bedroom fully furnished units, alongside shared amenities including a study cafe, community kitchen, fitness center, game …