Norman, Okla. — Virtus Real Estate Capital, a real estate private equity firm, and Aspen Heights, a student housing development and management company, have partnered to develop a 684-bed cottage-style student housing community, located close to the University of Oklahoma.
With a completion date of August 2015, construction has begun on the development that will begin preleasing in late October. According to the partnership, this project will offer the largest units in the market.
“We’re excited to work closely with Aspen Heights to bring a unique brand of cottage-style student housing that will provide students with a superior experience,” says Kevin White, acquisitions director, Virtus Real Estate Capital. “Aspen Heights is widely respected as an industry leader in development, marketing and customer service, and we expect to find more opportunities to work on together.”
“Aspen Heights is excited to bring our signature student housing product to the University of Oklahoma community,” adds Greg Henry, founder and CEO of Aspen Heights. “We have had our sights set on Norman for some time, and we feel our partnership with Virtus is a winning combination. The University of Oklahoma is a dynamic institution of higher learning, and Aspen Heights looks at this as a great opportunity to have a positive impact on the student living experience in Norman.”