Student Housing Daily - January 28 - Newmark sells 120 beds

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NEWS ROUNDUP

DISPOSITION: Newmark sells 120 beds. Newmark has successfully arranged the sale of Pine Rock Townhomes, a 120-bed property in Hamden, CT. Ryan Lang, Jack Brett, Ben Harkrider, Mallory Rodriguez, Hope Brunner, Annarose Childress, Daley Heller, John Clark, Ben Roelke, Ian Walker, Trent Houchin and Jeff Barnwell are part of Newmark’s student housing team.

ACQUISITION: Greystar expands UK portfolio. Greystar has expanded its UK student accommodation portfolio with the acquisition of two PBSA assets, collectively known as "The Neighbourhood," located in Cardiff and Exeter. The £60 million deal adds 400 high-quality student beds to Greystar's growing UK portfolio, with 240 beds in Cardiff and 160 in Exeter. This acquisition brings Greystar's UK PBSA portfolio to over 35,000 beds, reinforcing its position as a leading provider of professionally managed student housing.

DEVELOPMENT: Portland State University to build 550 beds. PSU has announced plans to construct a new $85 million student housing complex, slated to open in fall 2028. The facility will provide 550 beds and is designed to enhance the on-campus living experience for students. PSU President Ann Cudd emphasized the benefits of on-campus living, stating, "We know that students who live on campus do better in the classroom, and this beautiful new housing complex will provide Portland State students a modern and accessible option for on-campus housing."

DEVELOPMENT: LV Collective is nearing completion of 7-story building. LV Collective, led by David Kanne, is nearing completion of The Rambler Columbus, a new 889-bed apartment complex adjacent to The Ohio State University campus. The development is set to welcome its first residents in August 2025, coinciding with the start of the academic year. The Rambler Columbus offers a range of floor plans, including studio, one-, two-, three-, four-, and five-bedroom units

PEOPLE MOVES: Landmark appoints new director. Landmark Properties has appointed Nikko Politis as Senior Director of Multifamily Acquisition. Mr. Politis brings 15 years of experience in real estate investment and capital markets, encompassing acquisitions, development, asset management, and fundraising. "We are thrilled to welcome Nikko to the Landmark team. His extensive experience and proven success in multifamily acquisitions will be instrumental as we diversify our portfolio and expand our presence in this dynamic market” - Walt Templin, Landmark Properties.

READ: Franklin Street Q4 2024 student housing report. 

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STUDENT HOUSING FOR SALE

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172 Beds | 99% Occupancy | 5.2% Rent Growth

290 Beds | 97.24% Occupied | $3.26/SF Avg. Rent

Opportunity to Convert Hotel to Student Housing | Class A | Prime Location

200 Beds | 1:1 Parking Ratio | Controlled-Access Gates | 10% YoY Rent Growth

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