Ohio

Columbus, Ohio — Parallel has broken ground on a 351-bed student housing development located within walking distance of the Ohio State University campus in Columbus. The five-story community will be located at 76 E. Ninth Ave. and is scheduled for delivery in summer 2023. The property will offer studio through five-bedroom, fully furnished units. Shared amenities will include a terrace-level courtyard with a swimming pool and hot tub; state-of-the-art fitness facility; package lockers; and a first floor bistro and lounge. The project is targeting Green Building Standard (NGBS) Multifamily certification.

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Laura-Formica

Columbus, Ohio – Homestead Cos. has launched Homestead Living, an in-house management team overseeing day-to-day operations of the company’s student housing, multifamily and seniors housing properties. Laura Formica — former vice president of operations, who led the Columbus-based company’s student housing division for five years from 2012 to 2017 and rejoined as vice president of operations in 2019 — will serve as president of Homestead Living. “At Homestead, we are passionate about providing great residential experiences for the student, empty nester and all in between,” says Formica. “The benefits of …

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Columbus, Ohio — CA Student Living has been selected to manage The View on Pavey Square, a 293-bed student housing community serving Ohio State University. The community, which opened in fall 2020, offers studio through four-bedroom floor plans, in addition to five townhomes. The property was developed and is owned by Solove Real Estate. Units are fully furnished and range from 456 to 1,584 square feet. Amenities include a fitness center, study rooms, student lounge, coffee bar and outdoor courtyard. “It is encouraging to see CA’s footprint expanding both nationally …

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The-District

Cincinnati — Trinitas Ventures has received approval for the development of The District at Clifton Heights, a $500 million mixed-use project near the University of Cincinnati campus in Ohio. The development will be completed in two phases. The $315 million Phase I of the project will include The Deacon, an existing 1,029-bed student housing community; The Hub at Cincinnati, a 1,112-bed student housing development featuring 2,300 square feet of commercial space; a 175-room hotel with 22,000 square feet of retail space; a new Delta Delta Delta sorority house; and a …

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Seamus Brennan

Columbus, Ohio — Homestead U has hired Seamus Brennan as director of acquisitions and dispositions. Brennan most recently served as director of capital markets for a retail REIT. “With further dislocation of both the capital markets and real property markets in the dedicated student housing space anticipated over the next two years or so, now is an ideal time to come on board with Homestead U and expand its in-house capabilities,” says Brennan. “I have been humbled and deeply impressed with the knowledge and expertise of the team in place. …

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22 Exchange

Akron, Ohio — Capstone Real Estate Investments (CREI) has acquired 22 Exchange, a 471-bed student housing community located near the University of Akron in Ohio, for $12.5 million. The property offers two-, three- and four-bedroom units alongside shared amenities including a 24-hour fitness center, a computer center and 22,104 square feet of ground floor retail. Sean Baird and Jonathan Holt of Colliers International represented both the buyer and seller, Rialto Capital Management, in the transaction. “The impact of COVID-19 on college campuses has made student housing deals more challenging in …

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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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Akron, Ohio — Capstone Real Estate Investments (CREI) has acquired 22 Exchange, a 471-bed student housing community located near the University of Akron in Ohio. The property offers a mix of two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include 22,104 square feet of retail space, a 24-hour fitness center and yoga room, a game center, study rooms, media rooms and a computer center. Renovations are planned for the community and include the addition of new unit floor plans and security enhancements. Terms of the transaction and the …

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Chicago — CA Student Living, the student housing investment and development arm of CA Ventures, is opening six student housing communities this fall valued in excess of $550 million. The properties — which offer more than 3,000 beds — are located in Florida, Indiana, Illinois, Iowa, Ohio and Pennsylvania. New openings include: Identity Miami, a 621-bed student housing community located three blocks from the Florida International University campus in Miami. The property offers one-, two-, three- and four-bedroom units. Shared amenities include a shuttle to campus; a 24-hour fitness and …

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Columbus, Ohio — Homestead U has hired Cory Ratai as regional manager. Ratai will oversee a portion of the company’s national student housing portfolio including properties at Ohio State University, Ohio University and Texas Tech University. Ratai first joined Columbus-based Homestead U in 2015 as director of marketing for University Village, a 1,900-bed community located near Ohio State University. “I couldn’t be more excited to have Cory back in a regional manager capacity,” says Laura Formica, vice president of Homestead U. “His experience in essentially every function at the property …

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