Valdosta, Ga. — RISE: A Real Estate Company, formerly Ambling University Development Group, has purchased Ambling Student Housing, and its management platform of more than 17,000 student housing beds at 36 properties in 16 states.
“This acquisition is a key component to RISE’s vision to strategically grow both its development and management portfolios over the next few years,” Greg Blais, RISE’s president, told Student Housing Business. “Our extended platform allows us to capitalize on long lasting relationships and dive deeper to serve our partners, to serve our employees and to serve our residents. Through leveraging our two decades of experience on- and off-campus, we are excited by our ability to add value today and tomorrow.”
Ambling Cos. Inc. first formed a management company in 1995. In 2011, Ambling Cos. restructured, at which time several owners took the student housing development platform, Ambling University Development Group (AUDG), independent. In 2014, AUDG ownership started its own management company that rebranded to RISE in June 2015.