Thursday, April 7, 2016

The Preiss Co. Acquires Fifth Property in Three Months

Campus Edge Apartments, 3551 Cum Laude Court, Raleigh, NC

RALEIGH, NC,  April 7, 2016—Officials of The Preiss Company, the nation’s third largest, privately-held, student housing owner-operator, today announced the acquisition of the 546-bed student housing complex, Campus Edge, in Raleigh, N.C., in a joint venture with a private investment group for an undisclosed price. 

Located at 3551 Cum Laude Ct., Campus Edge is within walking distance to the North Carolina State Centennial campus and approximately two miles from the main campus.  The acquisition comes on the heels of the company’s first quarter student housing acquisitions of a three-property portfolio in Boca Raton, Fla., and a transaction in Greensboro, N.C. 

Donna Preiss
“This off-market transaction continues our aggressive growth through both acquisition and third-party management contracts,” said Donna Preiss, founder and CEO, The Preiss Company.  “While we have expanded to 23 markets nationwide, we continue to look for in-fill opportunities in existing markets.”

“Raleigh is our headquarters city and we have unparalleled expertise here.  

"This is our 14th property in the market which gives us tremendous economies of scale, supported by a deep, experienced infrastructure. 

“Our national footprint exposes us to new practices and opportunities.  However, North Carolina remains an important market.  We are the largest student housing provider in the state, as well as at NCSU.  We see continued opportunity throughout North Carolina and have excellent relationships with the leading colleges and universities,” she added.

Preiss will commence an extensive $2.2-million renovation this year, which the company expects to complete ahead of the 2017 – 2018 school term.  The project includes fully renovating the clubhouse and significant upgrades such as new flooring, countertops, upgraded black appliances and lighting in a substantial number of the units. 

For a complete copy of the company’s news release, please contact:

Patrick Daly
Office Manager
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289

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