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| Donna Preiss |
RALEIGH, NC—Officials of
The Preiss Company, the nation’s third largest, privately-held, student housing
owner-operator, today announced that the company posted strong growth in the
2016 first quarter with the acquisition of four properties and expects
continued aggressive growth for the remainder of the year. Officials also said the company has the most
active acquisition pipeline in its history.
“The company added a total
of 16 properties in the last 12 months through acquisitions and new management
contracts, which increased our room count by 33 percent to more than 28,000
beds at year-end 2015,” said Donna
Preiss, founder and CEO, The Preiss Company.
“Both the company and our
institutional investor partners continue to see a significant number of
properties coming to market. Private
equity is readily available, and debt remains at historically low rates. Established players, such as life insurance
companies and traditional banks, still view the student housing sector as a
sound investment.”
Preiss noted that the
company has expanded its acquisition department to handle the significantly
higher due diligence and related acquisition workload.
“The level of seller interest is high, and we
currently are actively pursuing some 10 candidates. Acquisitions don’t follow a
set pattern as there are multiple factors that can either postpone or kill a
transaction, over which a buyer has little or no control,” she said.
“We expected a higher acquisition level last
year, but getting to the closing table was slower than anticipated. We completed some of those acquisitions in
early 2016 and are optimistic about acquisition growth for the duration of the
year.”
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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