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| Campus Edge Apartments, 3551 Cum Laude Court, Raleigh, NC |
RALEIGH, NC, April 7, 2016—Officials of The Preiss Company,
the nation’s third largest, privately-held, student housing owner-operator,
today announced the acquisition of the 546-bed student housing complex, Campus Edge, in Raleigh, N.C., in a
joint venture with a private investment group for an undisclosed price.
Located at 3551 Cum Laude
Ct., Campus Edge is within walking distance to the North Carolina State
Centennial campus and approximately two miles from the main campus. The acquisition comes on the heels of the
company’s first quarter student housing acquisitions of a three-property
portfolio in Boca Raton, Fla., and a transaction in Greensboro, N.C.
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| Donna Preiss |
“This off-market transaction continues our
aggressive growth through both acquisition and third-party management
contracts,” said Donna Preiss,
founder and CEO, The Preiss Company.
“While we have expanded to 23 markets nationwide, we continue to look
for in-fill opportunities in existing markets.”
“Raleigh is our
headquarters city and we have unparalleled expertise here.
"This is our 14th property in the market which
gives us tremendous economies of scale, supported by a deep, experienced
infrastructure.
“Our national footprint
exposes us to new practices and opportunities.
However, North Carolina remains an important market. We are the largest student housing provider
in the state, as well as at NCSU. We see
continued opportunity throughout North Carolina and have excellent
relationships with the leading colleges and universities,” she added.
Preiss will commence an
extensive $2.2-million renovation this year, which the company expects to
complete ahead of the 2017 – 2018 school term.
The project includes fully renovating the clubhouse and significant
upgrades such as new flooring, countertops, upgraded black appliances and
lighting in a substantial number of the units.
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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