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| Signature 1505 Student Housing, Hillsborough Street, Raleigh, NC |
RALEIGH, NC—Officials of The Preiss Company (TPCO), one
of the nation’s largest, privately-held, student housing owner-operators, in
a joint venture with Nuveen Real Estate, the
investment management arm of TIAA, one of the world’s largest real estate
investment managers, announced the acquisition of the 525-bed
Signature 1505.
Serving more than 5,000
students in 17 properties throughout the Raleigh market, TPCO has been the
largest off-campus provider of purpose-built student housing for North Carolina
State University (NCSU) for over 20 years.
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| Photo by Christopher T. Martin Donna Preiss |
“Following our recent joint venture acquisition of The
Estates at San Antonio, this marks our second deal in January,” said Adam
Byrley, chief operating officer, TPCO.
“Much of the
diligent work we began last year looks likely to come to fruition over the
coming months, and we project 2019 will be a record growth year for us.
We look forward to expanding our relationships with best-in-class partners like
Nuveen Real Estate as we pursue our aggressive growth goals.”
The student housing community offers several room
configurations, including one-, two-, three- and four-bedroom apartments, all
with private bed/bath suites.
Each apartment provides upscale finishes, including
granite countertops, stainless steel appliances, hardwood-style flooring and
contemporary light fixtures. All suites also include a full-sized washer
and dryer, modern furniture package and 50” Smart TV.
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| Adam Byrley |
Located on
Hillsborough Street adjacent to the YMCA, Signature 1505 is just a two-minute
walk to NCSU and is close to the entertainment centers in Glenwood South and
Cameron Village.
“Having just opened for the Fall 2018 semester, the
Signature 1505 remains the newest student housing community for the Raleigh
marketplace,” noted Donna Preiss, founder and CEO, TPCO.
“With four additional properties in Raleigh, we are
able to easily create economies of scale and systems for sharing best
practices.
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| Hillsborogh Street, Raleigh, NC |
"We are familiar intimately with the market, and perhaps
more importantly, we know and understand what today’s student body requires to
have a successful and fulfilling academic career.”
Celebrating its 32nd year, Raleigh-based, The
Preiss Company specializes in the development, acquisition and management of
off-campus student housing. The company is ranked in the nation’s
top 10 largest, privately-held, student housing owner-operator.
Contact:
Amy
Barger
Vice
President of Public Relations
The Preiss Company
(919) 532-1114
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