Monday, May 16, 2016

The Preiss Company Acquires Two Student Housing Properties in New Joint Venture; Brings to Seven Acquisitions Year-to-Date

Donna Preiss
 RALEIGH, NC, May 16, 2016—Officials of The Preiss Company, the nation’s third largest, privately-held, student housing owner-operator, today announced that it had formed a joint venture with a private investment group to acquire two student housing complexes in Raleigh, N.C., for an undisclosed amount. 

The transaction brings to seven the number of properties transacted by Preiss year-to-date.  Both student housing units -- the 440-bed College Inn and the 288-bed University Village at 2505 -- will continue to be operated by The Preiss Company.

“Preiss previously was a joint venture partner in these properties,” said Donna Preiss, founder and CEO of The Preiss Company.  “Our former partner had achieved its objectives with these assets and wanted to harvest the return on their investment.  

“We have a diverse number of strategic partners with different investment criteria.  This allowed us to work with another of our investor partners to acquire these assets which still have great upside,” she said.

“Coming into 2016, Preiss set a goal of adding 10 properties,” she noted.  “We have the largest pipeline in our history and could exceed that goal by as early as this summer.

“ Based on our current rate of acquisitions, we will have an exceptional year, perhaps a record. There are a large number of properties on the market, ranging from those that would benefit from major renovation/repositioning to those that need more focused management. 

“There also remains opportunities to develop new properties.  Financing remains attractive, and we see continued demand growth.  We continue to believe this is an excellent time to be investing in student housing.”

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

Amy Barger, Vice President of Marketing
The Preiss Company
(919) 532-1114

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