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Place/BV Adds Two More Complexes

ATLANTA-The student housing fund invests $48 million near Ole Miss and Texas A&M.

By Carl Cronan | Updated on February 12, 2009

ATLANTA-Locally based Place Properties LP is expanding its student housing portfolio with Chicago-based Blue Vista Capital Management LLC with new apartment complexes near the campuses of the University of Mississippi and Texas A&M University. The Place/BV Student Housing Fund LLC will invest $48 million in both properties.

The 366-bed Lafayette Place development, a quarter-mile from the Ole Miss campus in Oxford, will cater to graduate and senior undergraduate students with one- and two-bedroom units, rather than the usual four-bedroom units normally found in student housing complexes. The apartments will be fully furnished and wired for cable TV and Internet, and will offer various community amenities.

Brent Little, national development partner with Place Properties, says the smaller units allow for greater privacy, as demanded by older college students. That type demand is factored into deciding where Place/BV builds its communities, either on or off campus, along with occupancy and lease-up demand in college cities.

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