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| Susan Folckemer |
ATLANTA, GA, Feb. 3,
2020—Officials at
The Preiss Company (TPCO), one of the nation’s largest, privately-held,
student housing owner-operators, and Investcorp, a leading global provider
and manager of alternative investment products, today announced the joint
venture acquisition of the 525-bed Signature West Midtown student housing
complex in Atlanta, Ga.
“This acquisition marks
our fourth student housing complex in Georgia and our entry into the attractive
and growing Atlanta market,” said Susan Folckemer, chief acquisitions
& development officer, TPCO.
“Signature West Midtown benefits from an exceptional location just steps from Georgia Tech and aligns with The Preiss Company's business strategy of targeting properties based on school selectivity, the health and diversity of the job market in which the asset is located and the asset itself.
"The recently completed building and units are in excellent physical condition, and we foresee minimal, if any, new renovations in the immediate future.
"We are confident that the Signature West Midtown will benefit from our proprietary marketing and management tools and fully expect to see increases in both rentals and resident satisfaction scores.”
“Signature West Midtown benefits from an exceptional location just steps from Georgia Tech and aligns with The Preiss Company's business strategy of targeting properties based on school selectivity, the health and diversity of the job market in which the asset is located and the asset itself.
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| 525-bed Signature West Midtown student housing complex at 800 Marietta Street NW, Atlanta, Ga |
"The recently completed building and units are in excellent physical condition, and we foresee minimal, if any, new renovations in the immediate future.
"We are confident that the Signature West Midtown will benefit from our proprietary marketing and management tools and fully expect to see increases in both rentals and resident satisfaction scores.”
CONTACTS:
Kasey Munsch,
Vice President of
Marketing
The Preiss Company
(919) 706-0668
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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