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Student Housing Daily - April 24 - Monument Square JV acquires 792 beds

Student Housing Daily - April 24 - Monument Square JV acquires 792 beds

PNW breaks ground on residence hall. TCU reveals $500 million expansion. JSU breaks ground on residence hall. HH Group appoints new SVP. Four new student housing deals.

Aid Sopjani & Matt H
April 24, 2025

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NEWS ROUNDUP

ACQUISITION: Monument Square JV acquires 792 beds. Monument Square Investment Group (MSIG), in partnership with Walton Street Capital, has acquired Cottage Row Stillwater, a 792-bed (231-unit) cottage-style student housing community in Stillwater, Oklahoma. Built in 2013, the property is located just 2.5 miles from Oklahoma State University. The community is currently 96.3% occupied for the 2024–2025 academic year and boasts a 99.1% pre-leasing rate for the 2025–2026 school year, signaling strong demand and leasing velocity in the Stillwater market.

DEVELOPMENT: PNW breaks ground on residence hall. Purdue University Northwest (PNW) has officially broken ground on Calumet Hall, the university’s third residence hall. The new 42,000-square-foot facility will welcome its first residents in Fall 2026. Calumet Hall will feature 150 student beds, along with modern amenities including a common kitchen, laundry facilities, study areas, and a student lounge. Berglund Construction is overseeing the build, with development already underway.

DEVELOPMENT: TCU reveals $500 million expansion. Texas Christian University (TCU) is undertaking a campus expansion that will add more than 3,200 new student beds through a $500+ million public-private partnership, the university announced this week. The ambitious initiative, approved by the university's Board of Trustees, includes multiple new housing developments aimed at supporting enrollment growth while enhancing the student experience and Fort Worth’s urban fabric. Construction is already underway and is expected to be completed ahead of the Fall 2027 semester. The initiative is being delivered in partnership with two nationally recognized firms: American Campus Communities (ACC) and Endeavor Real Estate Group.

DEVELOPMENT: Jacksonville State University breaks ground on residence hall. Jacksonville State University (JSU) has officially broken ground on its largest-ever student housing development, the West Village Housing Project, a 700-bed apartment-style residence hall aimed at meeting growing demand for on-campus upperclassmen housing. The complex is scheduled to open in Fall 2026.

PEOPLE MOVES: HH Group appoints new SVP. HH Group has announced the appointment of Tadros “Teddy” Abdelmalek as Senior Vice President of Business Development at HH Red Stone, the firm’s property management division. In this newly created role, Abdelmalek will drive the expansion of HH Red Stone’s third-party management platform, with a focus on student housing, multifamily, and affordable housing across strategic U.S. markets. “Having Teddy onboard at this stage is a real advantage for us,” said Tony Shen, Co-Founder of HH Group. “His background and passion for the business align perfectly with where we’re headed. With HH Red Stone’s proven record of increasing revenues and reducing costs, we’re eager to collaborate with more property owners and help them achieve their goals.”

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