Student Housing: Not for Amateurs
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|We’ve seen it before: a property type becomes too popular too fast, too much is built, and a lot of investors end up on the short end of that stick. (Lindsay Lohan is a classic example.) Is that happening to student housing even as student populations rise?|
|“Student housing is like any other area of real estate, where certain markets can get over-heated,” Harrison Street Real Estate Capital SVP Brian Thompson tells us. In fact, he adds, it’s pretty much inevitable in some markets, given the sector’s success over the last two to three years. Brian (right, with Mike Gordon and Justin Gronlie) will be on hand for Bisnow’s Chicago Student Housing Summit next Thursday at W Chicago City Center hotel to discuss the state of student housing. Youc an sign up here.|
|Overbuilding in some places doesn’t mean a lack of opportunities going forward, Brian stresses. “The space abounds with opportunities for those knowledgeable about individual markets, who can identify areas of potential oversupply, and who aren’t simply looking for a quick trade,” he says. Pictured: the 1,527-bed Sterling Central Apartments near the U of Central Florida, the first acquisition by Harrison Street Core Property Fund. Harrison Street Real Estate Capital owns more than 25,000 student housing beds.|