Student Housing Daily - January 6 - GMH and AEW acquire two assets

Good morning. Welcome to Student Housing Daily! In each issue, we cover the top stories, trends, and listings in student housing.

→ Make someone’s day! Forward Student Housing Daily to clients and colleagues. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: GMH and AEW buy two class A assets. GMH Communities and AEW Capital Management have acquired two purpose-built student housing communities: Dockside at Clemson University in South Carolina and Flatiron at Louisiana State University in Baton Rouge, adding more than 900 beds. Gary Holloway (GMH) and Adam Schwank (AEW) said the deals reflect a focus on modern, well-located assets in high-growth university markets. JLL arranged the financing, led by Mike Brady, Jake Wisness, Bill Maloney and Jake Davidson.

FINANCING: Affinius Capital finances 14-story tower next to ASU. Affinius Capital has originated an $81.2 million construction loan for The Samuel, a 14-story, 224-unit mixed-use student housing project next to Arizona State University in Tempe, developed by Fields Holdings led by Eran Fields. Tyler Figley of Affinius said the deal fits the firm’s strategy of backing high-quality student housing near major universities. Scheduled for delivery in fall 2027, The Samuel will include 408 beds, 8,200 sq ft of retail.

DEVELOPMENT: University of Akron closes $158.8M P3 to renovate 2,323 beds. The University of Akron has closed a $158.5 million bond-financed public-private partnership to renovate and revitalize its 2,323-bed on-campus housing portfolio. Radnor Property Group was selected as developer, led by David Yeager, with design and construction by Indovina Associates Architects, Studio Lokken, and Rycon Construction. Radnor Campus Management (RCM) — a JV between Radnor and COCM — will manage the portfolio alongside UA’s Residence Life team; Grey Bekurs (COCM) highlighted the model’s potential as a national benchmark. Chris Hicks (Provident) said the structure helps the University unlock value and manage risk. RBC Capital Markets underwrote the bonds, with Brailsford & Dunlavey, PFM Financial Advisors, and Calfee, Halter & Griswold advising the University.

DEVELOPMENT: Penn State approves 1,505-bed on-campus housing project with Greystar. Penn State has advanced plans for a 1,505-bed, four-building student housing complex on 16.8 acres at Hastings Road and University Drive at University Park under a public-private partnership with Greystar Development. Construction will start in spring and deliver in two phases: 876 beds in 2028 and 629 beds in 2029, said Chris Nasuti of HRG. Matt Lamm of WDG Architecture said the six-story buildings will use fiber-cement panels, brick, metal accents and glazed aluminum storefronts with a neutral palette. Daniel Nickerson, Greystar’s development director, said units will be apartment-style with in-unit kitchens and laundry.

READ: Federal data reveals rising student loan delinquencies.

STUDENT HOUSING FOR SALE

Click each image for more information:

40 Beds | Value-Add Opportunity | <0.5 Miles to Campus | 100% Occupancy | Avg. Rent: $873

748 Beds | Value-Add Opportunity | Built in 2014 | Priced at 50% of Replacement Costs

176 Beds | Built in 1965 | Renovated in 2014 | 85% Occupancy for AY ‘25-’26 | Projected to Stabilize at 95% for AY ‘26-’27

47 Units | 247,400 SF | Washer & Dryer in Every Unit | Fully Furnished Units

ONE MORE THING

→Try our resources for student housing pros:

Search Properties (beta) | Student Housing News | Comps (coming soon) | Professional Network (coming soon) | Advertise Listings | Share a Closing Announcement