The Preiss Co Acquires Three More Student Housing Developments
The Preiss Co and a private equity group acquired three student housing properties in Tampa, Indianapolis and Raleigh. The acquisition consists of 4050 Lofts, a 722-bed community adjacent to the University of South Florida; The Avenue, a 358-bed property serving Indiana University-Purdue University; and the 162-bed Campus West at Tyron near North Carolina State University.
Preiss has acquired 11 properties this year, surpassing its acquisition goal.
"We already have achieved our previously stated goal of adding 10 properties in 2016 by the midpoint of the year and continue to have an aggressive appetite for more," says Preiss founder Donna Preiss.
The 4050 Lofts (shown) offers three- and four-bedroom units, each with a private bedroom and bath, and a common living room and kitchen. The property is directly across the street from campus classrooms and the student center.
The Avenue is the closest housing complex to Indiana University and offers studios up to four-bedroom units, each with its own private bath.
Campus West at Tyron, at North Carolina State University Centennial Campus, was developed by Preiss in a JV in 2014.
All three developments will get significant upgrades.
