Student Housing

The portfolio totals 219 bedrooms and are all legally zoned and approved by the City of Bethlehem.

The project was financed primarily through a tax-exempt bond issuance with Collegiate Housing Foundation, a nonprofit 501(c)(3) organization, serving as the borrower and owner of the project.

The student housing market is on track to keep pace with the strong leasing activity last year.

The 598-bed property near Clemson University has been rebranded as The Collective University.

New apartment projects have both by-the-bed leasing for students and conventional by-the-unit apartments for adult professionals.

The project is a joint venture with The McKinney Fund & Company, with Central Bank of St. Louis and Central Bank of the Midwest providing the construction financing for the project.

The 99-year ground lease will bring UMass $235 million and has the potential to foster 3.4 million square feet of mixed-use development at the property.

The firm looks to continually expand its student housing portfolio, which currently spans across 13 states.