Chapel Hill, N.C. — Capstone Real Estate Investments (CREI) has sold University Apartments, a 154-bed student housing community located near the University of North Carolina at Chapel Hill campus. The property was acquired by Magma Equities for an undisclosed price. Elmington has been tapped to manage the community.
Wilmington, N.C. — A joint venture between Pearlmark, Timberline Real Estate Ventures and Tramview Capital Management has acquired a multifamily property located near the University of North Carolina Wilmington campus. The property, located at 420 Racine Drive, will be renovated and positioned as student housing. The community will be managed by B.HOM Student Living. Details on the renovation were undisclosed.
Boone, N.C. — A public-private partnership between RISE: A Real Estate Co. and Appalachian State University has opened a 640-bed residence hall named Laurel Creek Hall. The property represents Phase II of development in a $200 million multi-phase project currently underway on the university’s campus in Boone. The project’s development team included Niles Bolton Associates, Choate Construction, Stanley D. Lindsey and Associates, RBC Capital Markets and Beyond Owners Group. RISE closed on financing for Phase III of the project in December 2020 and will deliver 753 beds and a 700-space …
Raleigh, N.C. — Core Spaces has acquired Stanhope Student Apartments, an 822-bed community serving students attending North Carolina State University in Raleigh. The property offers a mix of studio, one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a resort-style swimming pool; movie theater room; cyber cafe; art studio and drafting room; study lounges; a two-story fitness center; fire pit and grilling area; spray tanning; a stand-up tanning bed; game room; and ground level retail occupied by CVS/pharmacy, Smoothie King, Penn Station Subs, Cha House and Mulan Ice …
Winston-Salem, N.C. — Innovation Quarter (iQ), an entity that controls a 2.1 million-square-foot life sciences and higher education campus of the same name, has revealed plans for its second phase. The upcoming project will expand the mixed-use development in downtown Winston-Salem by 2.7 million square feet across 10 buildings. Established in 2010 in downtown Winston-Salem near Wake Forest University, iQ is anchored by Wake Forest School of Medicine and IQ Labs, as well as community spaces and more than 1,000 residences. The property houses 3,700 workers from various life sciences and technology …
Greenville, N.C. — A joint venture between XFD Real Estate Partners, Ash Real Estate, Saxum Real Estate and Anchor Real Estate Capital has acquired The Landing, an 888-bed community serving students attending East Carolina University in Greenville. The property offers a mix of two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include three resort-style swimming pools, a spa and sun deck, 24-hour fitness center, volleyball and basketball courts, study rooms, a computer lab and dog park. The new ownership plans to deploy $2 million in capital improvements to …
Wilmington, N.C. — Balfour Beatty Campus Solutions is on track to deliver Phase 1 of its New Student Village project, a multi-phase residence hall development built through a public-private partnership with the University of North Carolina at Wilmington. The first two buildings are set to open in August and will offer 1,038 beds for freshman students, a Port City Java coffee shop and a convenience store. The second phase of the project will include an additional 776 beds. The development is being built by Balfour Beatty Construction.
Durham, N.C. — University Partners has been awarded management of The Blue Light Living, a 211-bed student housing community located near Duke University in Durham. The property was built in 2020 and offers two- and three-bedroom units with bed-to-bath parity. Shared amenities include a rooftop pool lounge, fitness center, clubhouse, dog park, private study rooms and a restaurant on the ground floor. “We are excited to have the opportunity to continue to grow our third-party management platform with the addition of The Blue Light Living near Duke University,” says Carlie Cresse, …
Boone, N.C. — Construction is underway on The Finmore, a 564-bed student housing development located near Appalachian State University in Boone. The community will offer fully furnished studio, one-, two- and four-bedroom units with bed-to-bath parity. Shared amenities will include a 24-hour fitness center; package concierge; an outdoor terrace with hot tubs, fire pits, grills, lounges and tanning areas; private study rooms; and a clubhouse and coffee bar. The project team includes owner Shadowline Student Property; developer Front Street Partners; general contractor Southern Building Group; civil engineer Catalyst Design Group; and …
Boone, N.C. — A public-private partnership between RISE: A Real Estate Co. and Appalachian State University has closed on financing for the development of a third phase of student housing on the university’s campus in Boone. Phase III of the project will deliver 753 beds in fall 2022. Development for Phase II is currently underway with 638 beds set for delivery in fall 2021. Further details on Phase III were not announced. The project team includes Choate Construction, Niles Bolton Associates, Stanley D. Lindsey & Associates, Jenkins-Peer Architects, RBC Capital …