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| Donna Preiss |
RIVERSIDE, CA —Officials
of The Preiss Company (TPCO), ranked the nation’s fifth largest,
privately-held, student housing owner-operator, announced the continuation of
its robust growth plan with its first two joint venture acquisitions of 2017:
· The 760-bedroom GrandMarc at University Village
(proximate to The University of California, Riverside)
· The 416-bedroom Gateway at Huntsville (near Sam Houston
State University)
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| GrandMarc at University Village Student Housing near University of California, Riverside, CA |
Both purpose-built, student-housing properties were acquired in separate joint ventures for undisclosed amounts from different private investment groups. TPCO will operate the facilities, as well as oversee renovations and upgrades.
“These acquisitions reflect
our continued drive for nationwide expansion,” said Donna Preiss, founder and CEO, The Preiss Company. “Our portfolio has more than doubled in size
to more than 50 properties over the past five years.
“ Both of these complexes
reflect the profile we seek: quality assets near large universities that are
experiencing rapid enrollment growth. In
addition, we see opportunities to enhance these properties with upgrades and
installation of our proprietary, student-focused management systems.
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| Gateway at Huntsville Student Housing near Sam Houston State University, Huntsville, AL |
“This is our second
student housing complex in California and our seventh in Texas,” she
commented. “Both campuses are new to our
portfolio, and the outlook is quite positive for continued enrollment
development and strong student housing demand at these schools. We also expect to achieve economies of scale
in operations at both properties.”
The GrandMarc at University Village is located on nearly 12 acres at
3549 Iowa Ave., about five minutes from the UC Riverside campus and across the
street from the University Village retail center. The complex consists of six, four-story
stucco buildings.
The 160-unit Gateway at Huntsville student housing
complex, comprising 416-bedrooms/bathrooms, is located at 5050 Sam Houston
Avenue. Situated on an approximate 12-acre site, the property features six,
four-story buildings, a swimming pool and basketball and volleyball courts.
For a complete copy of the company’s news release,
please contact:
PATRICK DALY
OFFICE MANAGER
DALY GRAY PUBLIC
RELATIONS, INC.
620 Herndon Parkway, Suite
115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289
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