Investments Valued at $64M Announced by Place/BV Student Housing Fund

ATLANTA and CHICAGO /PRNewswire/ -- The Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announced its most recent investments.

Hill Place serves the students of the University of Arkansas at Fayetteville and Rebel Place serves the students of the University of Nevada at Las Vegas (UNLV). Both communities will open summer of 2009.

BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, LP and Chicago, Illinois-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.

Hill Place, located directly across from the campus on Sixth Street, is in one of the most desirable locations for students of the University of Arkansas.(middle left photo)

Known as "the hill," the site is closer to campus than the parking lots for football and basketball games.

Hill Place will provide the purpose- built, contemporary housing that is in short supply near campus.

This garden- style community will house 840 students in 288 one, two and four bedroom apartments.

All apartments will offer contemporary furniture with full kitchens including washers and dryers. Each bedroom will have its own private bathroom.

Community amenities include a clubhouse with WIFI and a game room, a 24-Hour fitness center, tanning beds, with outdoor amenities to include two basketball courts, a study garden, walking/jogging trails throughout the property, and two resort-style swimming pools.

Rebel Place, located only a half mile from campus, will also be a garden style community serving the growing student population at UNLV.

Offering 480 beds in unit types that include two, three and four bedroom units, all with private bathrooms, the property will offer an alternative to the on-campus suite-style housing.

Bob Clark, (top right photo) Executive Vice President said, "Place is very excited about the addition of Hill Place and Rebel Place to our student housing portfolio.

"Both universities are growing and the markets have high barriers to entry. These projects compliment our portfolio and represent quality assets in excellent markets."

Blue Vista Capital Management, LLC is a leading national real estate investment management firm with in excess of $550 million in capital under management. Blue Vista has participated in joint ventures representing over $3 billion in total capitalization.

Place Properties, LP, has over 11 developments in various stages of construction nationwide making it one of the largest multifamily development and construction organizations in the country. Place Properties has developed more than $800 million of student housing properties since 1996 and currently manages more than 17,000 beds.

CONTACT: Jessica H. Nix, Director of Marketing and Public Relations of Place Properties, LP, +1-404-495-7591, jnix@placeproperties.com

Web site: http://www.placeproperties.com/