Student Housing Is Habit-Forming
Judson King Stewart is, in his own words, “addicted to student housing." The student housing practice lead for PentaRisk has been working with developers and owners since 1999, and is one of only a handful in the US who specializes in student housing insurance in addition to risk management.
So how did he develop this strange addiction? “I had a great time in college at the University of Alabama—Roll Tide,” Judson tells us. “There was a university common in an area I used to go joyriding around, and it was real neat. I started studying it. I had friends who were founders and owners in the business, and I started investing.”
Along with associate Selina Simpson, Judson leads PentaRisk’s student housing division. “It is my understanding we’re the only group focused on student housing risk,” he says. Stewart’s team has facilitated over 100 closings of these unique facilities, representing over $3B in development costs.
Judson sees late deliveries of new properties as one of the biggest issues facing the sector.“I watched projects get delivered on time year after year, and never saw a late delivery,” he says. “But then I went through a late delivery, and it’s the top reason I committed to this business (insurance)."
The experience was enough to make him want to leverage his passion so others would not have to endure the difficulties associated with late deliveries.
Bisnow, a proud enabler of healthy real estate addictions, hopes this one continues unabated—no rehab necessary.
