North Carolina

Aspen Heights University City

Charlotte, N.C. — Aspen Heights Partners has broken ground on Aspen Heights University City, a 188-unit community located at 300 Heritage Lake Drive near the University of North Carolina at Charlotte campus. The property will offer a mix of two-, three-, four- and five-bedroom units, two-thirds of which will feature a cottage-style design. Shared amenities are set to include a swimming pool, grilling areas, a basketball court, sand volleyball court, fitness center, study lounges and an on-site shuttle to campus. Aspen Heights secured $38.1 million in construction financing from Synovus …

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The Jolly Roger

Greenville, N.C. — CA Ventures has been awarded management of The Jolly Roger, an 804-bed student housing community currently under development near East Carolina University in Greenville. The community is set to offer one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include a two-story fitness center with a yoga studio and an outdoor exercise area; study lounges on each floor; a technology lab with complimentary printing; a coffee bar; clubroom; and a rooftop pool deck with a Jumbotron, grilling stations and seating areas. Developed …

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Columbus, Ohio — Coastal Ridge Real Estate has been awarded management of four student housing communities owned by Hallmark Campus Communities. New assignments include West Pine Lofts, a 365-bed community located near St. Louis University in Missouri; University Edge Cincinnati, a 344-bed community serving students attending the University of Cincinnati; University Edge Youngstown, a 546-bed community located adjacent to Youngstown State University in Ohio; and University Edge & Dickinson Lofts, a 413-bed community near East Carolina University in North Carolina. “We’re excited about the opportunity to welcome these four assets …

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Pembroke, N.C. — A joint venture titled PB Pembroke Owner LLC has broken ground on a 192-bed student housing community located near the University of North Carolina at Pembroke. The 192-bed project is Phase 1 of a larger development set to include 20,000 square feet of retail and a second 300-bed student housing community. Financing for the project includes $3 million in opportunity zone equity from the Woodforest CEI-Boulos Opportunity Fund, a $10.8 million loan from Self-Help Credit Union and $840,000 in developer equity. Phase 1 of the development is …

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Rochester, N.Y. and Wilmington, N.C. — OC Ventures has acquired two student housing communities located in New York and North Carolina. Acquisitions include The Hill at Rochester, a 362-bed community located near the Rochester Institute of Technology in New York; and The Lighthouse, a 348-bed community located pedestrian to the University of North Carolina Wilmington campus. Both properties offer fully furnished units with bed-to-bath parity. Shared amenities include fitness centers, study lounges, recreation rooms, pet parks, outdoor swimming pools, hot tubs, grilling stations and hammock gardens. Varsity Campus has been …

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Charlotte, N.C. —Capstone Apartment Partners has arranged the $48 million sale of Willows at the University, a 255-unit apartment community approximately two miles from University of North Carolina at Charlotte. Capstone represented Charlotte-based developer and seller, Gateway Communities NC, and procured the buyer, Salt Lake City-based real estate investment firm Millburn & Co. Willows at the University is Millburn’s third Charlotte-area property. Alex McDermott, Caleb Troop and Bryse Toothaker of Capstone negotiated the deal. Willows at the University was completed in May 2019 and was approximately 95 percent occupied at …

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Cullowhee, N.C. — Construction is underway on Bellamy Western, a 248-bed student housing community located near the Western Carolina University campus in Cullowhee. The property is being developed by Mallory & Evans Development and is scheduled for delivery in fall 2020. The community will offer four-bedroom, townhome-style units with bed-to-bath parity. Shared amenities will include a clubhouse, fitness center, study rooms, an outdoor kitchen and grilling station, a covered outdoor living space, fire pit and hammock garden. The property will be managed by Peak Campus. 

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Charlotte, N.C. — Fountain Residential and BAM Capital will develop the first phase of a three-phase student housing project near the University of North Carolina, Charlotte. Phase I of The Vue on University will comprise 271 apartment units offering one- through four-bedroom floor plans totaling 727 beds. Communal amenities will include a swimming pool, 6,000-square-foot fitness center and multiple private study rooms. The community will be located at the corner of University City Boulevard and East Mallard Creek Church Road. Stuart Roosth Architects and Kimley-Horn Associates designed The Vue on University. …

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Wilmington, N.C. — Xfinity Communities, the Comcast division serving multifamily properties and residents, has acquired Epproach Communications. Wilmington-based Epproach specializes in multifamily technology, including managed wi-fi and internet. “Property managers and owners — particularly those in the off-campus student housing space — are seeking box-less, managed internet solutions that more precisely meet the needs of their residents,” says Michael Slovin, vice president of national field sales at Comcast. “The Epproach acquisition earlier this year has allowed us to expand our managed services offering to provide residents with the constant connection …

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Athens, Ga. — Landmark Properties has been awarded management of 11 student housing communities totaling 5,400 beds. The Athens-based company’s new assignments are located in Tennessee, Oregon, South Carolina, Florida, Louisiana, Connecticut and North Carolina. Properties Include:  “As we continue developing and managing our owned properties, we also remain keenly focused on our third-party management business,” says James Whitley, COO of Landmark Properties. “This allows us to bring our deep industry and operational knowledge, as well as unsurpassed college living experiences, to more student housing developments across the country.”

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