Washington

Seattle — Peak Campus has been awarded management of Trailside, a new development by Phoenix Property Co. and Barings near the University of Washington campus in Seattle. The 762-bed community is located on the Burke-Gilman Trail in Seattle’s University District. Shared amenities at the property include outdoor amenity space, reserved parking, a 24-hour clubhouse and fitness center, private study lounges, game rooms and a 10,000-square-foot rooftop lounge. “We are thrilled to have been given the opportunity to help bring this fantastic project to life for the University of Washington community,” …

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Seattle — A joint venture between Peak Campus and Blue Vista Capital Management has broken ground on Theory U District, a 441-bed student housing community located near the University of Washington campus in Seattle’s University District. The seven-story development will offer fully furnished units alongside communal amenities including a fitness center, business center, courtyard, rooftop amenity deck, gathering and grilling areas and an outdoor kitchen. Construction financing for the project, set to open in fall 2022, is being provided by the Bank of Oklahoma. 

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The Ruckus

Pullman, Wash. — Highland Realty Capital has secured a $40.95 million bridge loan for The Ruckus, a 976-bed student housing community located near Washington State University in Pullman. The company secured financing — $2 million of which will be used to convert 89 four-bedroom units into three-bedroom units with bed-to-bath parity — through a Los Angeles-based debt fund on behalf of the borrower, NB Private Capital (NBPC). “Bed-to-bath parity is always an issue, and with COVID-19, it became an obvious upgrade for us to make,” says Blake Wettengel, president of NBPC. 

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Lakeview Student Residences

Seattle — Greystar is set to break ground on Lakeview Student Residences, a $145 million student housing community located in Seattle’s U District near the University of Washington. Greystar recently purchased a five-parcel assemblage of existing apartment buildings located at NE 42nd St. and 12th Ave. NE for the development for $17 million. Dan Chhan, Tim McKay and Sam Wayne of Colliers International represented Greystar and the undisclosed seller in the transaction. “This is a core location with high-rise zoning, just three blocks from the University of Washington and one block from the …

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Pullman, Wash. — Aspen Heights Partners has broken ground on Aspen Heights Pullman, a 752-bed, cottage-style student housing community serving students attending Washington State University. The property will offer a mix of two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities will include a community building, hot tub, fitness center and an on-site shuttle to campus. The development is scheduled for completion in fall 2021. 

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Seattle — Peak Campus Development and investment partner Blue Vista Capital Management has acquired a development site located near the University of Washington in Seattle. The new project — titled Theory U District — is set to offer 500 beds in studio, one-, two-, three-, four- and five-bedroom, fully furnished units. Shared amenities will include a rooftop deck, multiple study rooms, a landscaped courtyard for outdoor activities, a fitness room, package lockers and parking. The site was previously owned by the University Christian Church (UCC), which moved out of the …

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Seattle — Landmark Properties has acquired an eight-parcel development site in Seattle’s University District. A group of undisclosed sellers sold the fee-simple assemblage, which was rezoned for greater density and taller buildings in 2017, for $39 million or $950 per-square-foot. Tim McKay, Dan Chhan and Sam Wayne of Colliers International represented the sellers in the disposition. Landmark Properties plans to begin construction on two 25-story residential towers and one seven-story mid-rise building in 2021. The project will sit on a combination of 11 parcels of land, including the recently purchased eight-parcel site. …

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Des Moines, Wash. — Capstone On-Campus Management (COCM) has been awarded management of Campus View, located at Highline College in Des Moines, Washington. COCM will provide full turn-key management services for the residence hall, including facility maintenance and management, capital planning, financial services, marketing and leasing. COCM will also design and implement a comprehensive residence life and student development program for Campus View. 

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