The Preiss Company Continues Strong 2017 First Half with Acquisition of Two Student Housing Communities, Builds on Record 2016 with 5 Deals YTD

Donna Preiss

RALEIGH, NC —Officials of The Preiss Company (TPCO), ranked the nation’s fifth largest, privately-held, student housing owner-operator, announced that it continues to build on its record 2016 growth with the acquisition of Cabana Beach Gainesville and Cabana Beach San Marcos, two student housing communities totaling a combined 2,232 beds for an undisclosed amount.

 The two communities, serving the University of Florida and Texas State respectively, will be renovated and repositioned in their respective markets.

            “These acquisitions with a new joint venture partner play to another one of our core strengths: adding value through strategic upgrades and repositioning,” said Donna Preiss, founder and CEO, The Preiss Company.

“TPCO has a proven record in both in-depth renovation and development.  We’ve overseen more than $30 million in construction/upgrades over the past three years.  Only a handful of student housing owner/operators have the extensive experience and expertise in this sector of our business.”

Located just off the Texas State University campus, the 744-bed Cabana Beach San Marcos sits on 19 acres and provides the latest in student resources.

TPCO plans to upgrade 114 units, totaling 306 beds, and to renovate the community’s clubhouse.

Situated roughly a mile from the campus of the University of Florida, the 1,488-bed Cabana Beach Gainesville is housed on 55 acres.

            TPCO is planning to renovate common areas, as well as units, and expects to makeover the building exteriors with power washing and/or new paint, new fencing, upgraded gutters and new window screens.

With these two purchases, TPCO will own and/or manage approximately 4,500 beds in Florida and more than 5,300 beds in Texas.”

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
patrick@dalygray.com
www.dalygray.com

www.tpco.com.