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| Susan Folckemer |
CLEMSON, SC and RALEIGH, NC—Officials at The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, and a private real estate fund advised by Crow Holdings Capital, announced the acquisition of the 598-bed student housing complex, Aspen Heights, for an undisclosed amount.
Serving Clemson University, the property has been rebranded
The Collective at Clemson and is undergoing major upgrades.
“Year-to-date, we are averaging nearly one major transaction
a month and believe the second half of 2019 will be as robust as the first
half,” said Susan Folckemer, TPCO chief acquisitions &
development officer.
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| Adam Byrley |
“We continue to see favorable investment opportunities in
markets across the country and have the most active pipeline ever in our
32-year history.”
The significant upgrade program will have special emphasis on enhancing
the clubhouse, the complex’s social and study center, as well as improving
amenities. Other improvements include flooring upgrades and new furniture in select units, as well as
painting the exterior.
“We have a long and successful history with the Clemson University student
community,” said Adam Byrley, chief operating officer, TPCO.
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| John Preiss |
"With strong academic programs and high visibility
athletics, Clemson currently is ranked 24th
among all public universities by U.S. News & World Report, which bodes well for continued enrollment growth.”
Situated at 673 Old Greenville Highway in Clemson,
the property consists of a collection of cottages and townhouses surrounding a
well-landscaped resort-style pool, hot tub, outdoor fireplaces and full-court
volleyball and basketball courts.
A clubhouse features a computer lab, study lounge, movie
theater, game room and fitness center.
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| Aspen Heights, a 598-bed student housing complex at 673 Old Greenville Highway in Clemson, SC, has been rebranded The Collective at Clemson |
The complex offers two-, three-, four- and five-bedroom
floor plans, each providing a private bedroom, bathroom and ample closet space.
The open space
layout features a living room and spacious kitchens with granite countertops,
black appliances and shaker-style cabinets. Linen closets and extra
storage are provided, as well as a full-sized washer and dryer.
“We have passed the half billion-dollar mark in transactions for a single
year in record time and believe we will exceed our previous record year of
acquisitions, dispositions and development in the third quarter,” said John
Preiss, chief investment officer, TPCO.\
“We have a strong
group of institutional investors with whom we have built trust and great
working relationships. Together we continue to see excellent growth
opportunities in student housing.”
CONTACTS:
Amy Barger
Vice President of Public
Relations
The Preiss Company
(919) 532-1114
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