Student Housing Daily - July 31 - MCB Real Estate opens Baltimore student housing complex

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NEWS ROUNDUP

DEVELOPMENT: MCB Real Estate opens Baltimore student housing complex. MCB Real Estate has officially opened The Enolia, a $58 million, 473-bed off-campus student housing community in Baltimore, less than a mile from Morgan State University. It marks the first ground-up student housing development for Morgan State students in two decades. The Enolia includes 151 fully furnished apartments with bed-to-bath parity, stainless steel appliances, quartz countertops, and in-unit washers and dryers. Residents have access to modern amenities such as a fitness center, game room, study rooms with private huddle areas, lounges, and a multi-tiered outdoor courtyard featuring lawn spaces and a firepit.

DEVELOPMENT: Dartmouth College launches $500 million housing expansion. Dartmouth College is embarking on a $500 million, multi-year housing initiative to add 1,000 new beds. The first major development, Russo Hall, broke ground in August 2025 and is set to open in fall 2026. Designed by Cube3, the apartment-style hall will provide 285 beds for juniors and seniors, featuring single bedrooms, private bathrooms, common spaces, and kitchens—alongside large social and study areas. In addition to new builds, Dartmouth will renovate 60% of its current undergraduate housing over the next 15 years.

FINANCING: Vesper Holdings and Fortress Investment Group recapitalize student housing in Kansas. Vesper Holdings and funds managed by affiliates of Fortress Investment Group have recapitalized Hawks Pointe, a 248-unit, 463-bed student housing community located within walking distance of the University of Kansas. The property offers a mix of studio, garden-style, loft, and townhouse apartments, along with amenities such as a resort-style swimming pool and a two-story clubhouse featuring a 24-hour fitness center, business center, and game room. “Investor demand remains strong for recapitalizing Vesper’s student housing assets, driven by our disciplined execution and consistent ability to generate exceptional risk-adjusted returns for our investors,” said Isaac Sitt, Co-CEO of Vesper Holdings. “Institutional partners value experienced sponsors with strong portfolios, active deal flow, and a long-standing presence in the student housing sector.” Hawks Pointe is managed by CLS Living (CLS), Vesper’s property management subsidiary. CLS currently oversees more than 33,000 student housing beds across 43 university markets, making Vesper one of the top 10 largest student housing owners in the United States. The firm’s portfolio, founded by Elliot J. Tamir and Isaac J. Sitt, includes 53 properties spanning student housing, retail, mixed-use developments, office buildings, and parking structures.

PEOPLE MOVES: Landmark Properties names new Managing Director. Landmark Properties has appointed Ioannis Verdelis as Managing Director of Development and Investment for its European operations, as the Athens, Georgia-based firm accelerates its strategy to build a pan-European student housing and residential investment platform. Verdelis will co-lead Landmark’s European efforts alongside Alex Katsnelson and Tom Banning, bringing with him over 15 years of real estate and investment experience, with a particular focus on student accommodation. “We are excited to welcome Ioannis to the Landmark team,” said Wes Rogers, Chairman and CEO of Landmark Properties. “His track record of delivering complex, high-value projects across Europe — particularly in the student housing sector — combined with his reputation for leadership and innovation, will be a significant addition to the leadership of our European-based team.”

READ: Top 5 marketing tactics to fill student housing beds faster.

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STUDENT HOUSING FOR SALE

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517 Beds | 81% Occupancy | Cottage-Townhomes | 83% Preleased For AY ‘25-’26 | Resort Amenities

435 Beds | 46.2% Pre-Lease Occupancy | 28.7% Current Occupancy | Avg. Unit Size: 1,132 SF | CFO: August 4

123 Beds | Built in 2022 | 100% Occupancy | 98% Prelease | Weighted Avg. Rate For AY ‘25-’26: $1,291

480 Beds | 0.5 Miles to Campus | $1.6 Million Invested in Interior Upgrades

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