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Student Housing Daily - April 3 - Tailwind acquires 792 beds

Student Housing Daily - April 3 - Tailwind acquires 792 beds

Redstone buys 476 beds. The Prime Company secures $111 million. The Preiss Company recapitalizes five properties. Landmark breaks ground on 678 beds. Newmark's EOY student housing report. Four new student housing deals.

Aid Sopjani & Matt H
April 03, 2025

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NEWS ROUNDUP

ACQUISITION: Tailwind acquires 792 beds. Tailwind Group has acquired Connection at Huntsville, a 288-unit, 792-bed student housing community located in Huntsville, Texas. The deal was brokered by Berkadia’s Brandon Buell and his team. Tailwind Group secured a $19.5 million loan from Old National Bank for the acquisition, with the loan maturing in 2030, as noted in Walker County public records.

ACQUISITION: Redstone buys 476-bed community in Utah. Redstone Residential acquires The Factory, a 476-bed community in Logan, Utah. Newmark’s Ian Walker helped the company secure a Freddie Mac execution, whereas Ryan Lang and Jack Brett of Newmark brokered the transaction. Grant Collard, Kevin Turner, Joseph Tolman, Gavin Danley, Jake Jarman, Collin Snow, Mackenzie Jones, Jeff Clark, Melinda Herz, and Ellie Hansen are part of Redstone’s team.

FINANCING: The Prime Company secures $111 million. The Prime Company (TPC) has successfully secured $111 million in fixed-rate financing from affiliates of Apollo for a portfolio of five student housing properties spread across four states. This transaction marks the largest single financing deal in TPC’s 20-year history and represents the first collaboration between the real estate development firm and Apollo. TPC developed each of the five properties over the past decade, comprising a total of 998 units with 1,778 beds. “We are excited about the newly established relationship with the team at Apollo and to complete this transaction, which enabled us to secure attractive financing on a fixed-rate basis and free up a significant portion of our invested equity to be redeployed across our portfolio,” said Zane Sweet, Vice President of Capital Markets for TPC.

FINANCING: The Preiss Company recapitalizes five properties. The Preiss Company (TPCO) has successfully completed the recapitalization of a five-property student housing. The portfolio comprises nearly 3,700 beds located in highly sought-after student housing markets serving students attending The University of Texas at Austin, North Carolina State University, Texas State University, The University of Florida, and Indiana University. As part of the recapitalization, TPCO plans to implement targeted renovations across all five properties. “This transaction is a milestone for The Preiss Company and reflects our ongoing commitment to investing in and enhancing top-tier student housing communities,” said John Revington, Executive Vice President of Investments at The Preiss Company.

DEVELOPMENT: Landmark breaks ground on 678 beds. Landmark Properties, in partnership with Manulife Investment Management, has officially broken ground on The Standard at West Lafayette, a 678-bed student housing community set to rise adjacent to Purdue University in West Lafayette, Indiana. Peninsula Investments has also joined as a partner in the project, which is being built by Landmark Urban Construction, Landmark’s in-house general contractor. The 253-unit development is expected to be completed in time for the 2027 academic year.

READ: Newmark’s EOY student housing report.

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