Student Housing Daily - July 1 - GMH and Wexford complete project near UC Davis

Good morning. This is Student Housing Daily, and we are in on the joke.

→ We are here to serve the owners, brokers, managers, and capital providers that specialize in student housing. Do us a favor, and forward this email to your favorite student housing pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

DEVELOPMENT: GMH and Wexford complete project near UC Davis. A JV between GMH Communities and Wexford Science & Technology has officially completed ANOVA Aggie Square, a new 252-bed student housing community near the UC Davis Sacramento campus. The property features 190 units in a mix of studio, one-, two-, and four-bedroom floor plans, complemented by high-end amenities such as a 2,500-square-foot fitness center, yoga and spin studios, soundproof office pods, a wellness lounge with sauna and massage chairs, billiards game room, and an amenity patio with grilling stations.

DEVELOPMENT: CRG and Shapack secure financing for 625 beds in Michigan. A JV between CRG and Shapack Partners has acquired the site and secured construction financing for Chapter Ann Arbor, a new 183-unit, 625-bed student housing high-rise located in Ann Arbor, Michigan. Construction is expected to begin in August 2025, with delivery planned ahead of the 2027 academic year. Project partners include Lamar Johnson Collaborative as the designer and Findorff as the general contractor.

DEVELOPMENT: Trinitas Ventures and Mitsui Fudosan to begin construction on 27-story tower. Trinitas Ventures and Mitsui Fudosan America are set to break ground on Astria Tempe, a 27-story, 380-unit student housing development within walking distance of Arizona State University. The tower is expected to deliver by summer 2027. Project partners include Layton Construction as general contractor and Niles Bolton Associates as architect. TSB Capital Advisors arranged equity, while BMO Bank is providing construction financing.

DEVELOPMENT: Core Spaces and Harrison Street break ground on 1,492 beds. Core Spaces and Harrison Street have launched construction on Hub Bloomington Lincoln, a 1,492-bed, 461-unit student housing project located on Lincoln Street near Indiana University. The five-story development sits within the university’s designated mixed-use student housing zone. The community will offer studio to five-bedroom units and feature 34,000 square feet of indoor and outdoor amenities, including a fitness center, rooftop pool, basketball court, study lounges, and a spa with sauna. Wells & Wells is serving as general contractor, and DLR Group is leading architecture and design. TSB Capital Advisors advised on the joint venture and arranged financing from affiliates of QuadReal Property Group. Completion is expected by summer 2027.

READ: Top 10 Universities for student housing construction.

FROM OUR PARTNERS

Rentametrix is your platform for lease tracking, rate optimization, and market data insights for student housing. Book your demo today: Rentametrix 

STUDENT HOUSING FOR SALE

Click each image for more information:

376 Beds | 100% Bed-to-Bath Parity | 98% Occupancy | 65% Leased | Avg. Price per Bed: $953

2 Properties (Townhouse Assets + Parking Space) | Online Auction Sale | Starting Bid: $1,000,000 | 121 Beds

3 Properties | 81 Beds | 100% Occupancy | 100% Leased for AY ‘24-’25 | 96% Preleased for AY ‘25-’26

796 Beds | Avg. Unit Size: 1,043 SF | 91.73% Current Occupancy | Avg. Market Rent: $872/Bed

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