Premier Student Housing commercial real estate news, analysis, trends and information for private and public college dormitories, and on- and off-campus university apartments.
San Francisco has an estimated 80,000 students but an inventory of only 9,000 beds, creating a significant shortfall, resulting in the construction of another 600-plus beds in the form of City Gardens.
“We are seeing a lot of opportunities across our bank footprint and nationally, our multifamily lending base continues to be robust,” says Paul Woodworth, senior vice president and head of agency lending for SunTrust.
University enrollments are growing, prompting the need for housing, which was the underlying reason for Lynd's acquisition of a distressed bank note on 384-bed student housing community, Village at Lamar.
The Marc does not rely on the university for residents because the population of Bryan/College Station is growing and year-round rentals can capture young professionals and students.
Lincoln40 will be developed on a 5.9-acre infill site along Olive Drive, near the intersection of Richards Boulevard, three-quarters of a mile east of the University of California, Davis campus.
Most reports peg total investment sales in this category to be in the $8-billion to $9-billion range, which would make 2017 the second-largest volume in industry history, behind the $10-billion-plus in 2016, Pierce's Fred Pierce tells GlobeSt.com.