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Student Housing Daily - August 18, 2026 - Coastal Ridge sells Pennsylvania community for $66.3M

Student Housing Daily - August 18, 2026 - Coastal Ridge sells Pennsylvania community for $66.3M

ACC advances 898-bed project near UCF. Landmark nears opening of 700-bed community. CBRE arranges sale of development site. Fall 2026 pre-leasing nears 85%. Three new student housing deals.

Aid Sopjani & Matt H
August 18, 2026

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NEWS ROUNDUP

DISPOSITION: Coastal Ridge sells Pennsylvania community for $66.3 million. Coastal Ridge Real Estate has sold a 212-unit apartment community in West Chester, Pennsylvania, to an Invesco-affiliated entity for $66.3 million, or about $312,500 per unit. The sale price represents a 72% increase from the $38.5 million Coastal Ridge paid for the property in 2019. Located at 900 Reisling Lane about three miles south of West Chester University, the 14.7-acre community includes one-, two-, and three-bedroom apartments along with amenities such as a pool, fitness center, business center, dog park, and grilling stations. The property was originally developed by Bozzuto in 1998 and later sold to White Oak Partners in 2015 for $45.7 million before Coastal Ridge acquired it four years later.

DEVELOPMENT: American Campus Communities advances 898-bed project near UCF. American Campus Communities is advancing construction and has begun leasing for a new 898-bed student housing development directly adjacent to the University of Central Florida in Orlando. The project is expected to open in fall 2027 and will offer studios through five-bedroom units, along with study spaces, clubrooms, fitness facilities, and a resort-style pool and spa. James Wilhelm, CDO at American Campus Communities, said the development represents a differentiated offering in the UCF market and reflects the company’s long-term confidence in Orlando student housing. County records previously showed initial construction estimates totaling about $86.7 million, though ACC has not disclosed the final project cost. The development team includes Kelly, Collins & Gentry, Niles Bolton Associates, and Clancy & Theys.

DEVELOPMENT: Landmark nears completion of 700-bed community in New York. Landmark Properties is nearing completion of a 700-bed student housing community in Vestal, just south of Binghamton University, with first move-ins still scheduled for August 14. Major construction is complete at the 44-acre site, which now includes 161 cottage-style residences, while crews are finishing paving and other final site work. Landmark acquired the property from the Kradjian family for $6.8 million in 2024 after years of controversy and unsuccessful legal efforts by local residents to block student housing development on the site. It remains unclear how many of the buildings will be occupied for the upcoming fall semester.

DISPOSITION: CBRE arranges sale of development site. CBRE has sold 647 W. 28th Street, a development site 0.5 miles from the University of Southern California. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Carson Ford, Kamran Paydar, Kadie Presley Wilson, Brad Peters and Victoria Langston of CBRE facilitated the transaction.

READ: Fall 2026 pre-leasing nears 85% as student housing demand holds strong.