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Student Housing Daily - March 6 - CBRE sells 612 beds

Student Housing Daily - March 6 - CBRE sells 612 beds

Maslow's forms partnership with Pennybacker. San Benito housing to cost $624 million. NC State University to build $800 million housing project. LV Collective brings in new director. February national student housing report. Four new student housing deals.

Aid Sopjani & Matt H
March 06, 2025

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NEWS ROUNDUP

DISPOSITION: CBRE sells 612 beds. CBRE has sold The Oliver, a 612-bed student housing property in Louisiana. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Carson Ford, Eduardo Gamez, Sully Keeley, Brad Peters, Victoria Langston, and Bryce French of CBRE facilitated the transaction.

PARTNERSHIP: Maslow’s forms partnership with Pennybacker. Maslow's Campus Communities (Maslow's) has formed a strategic partnership with Pennybacker Capital Management. The partnership provides Maslow’s with the capital and resources to pursue P3s with universities nationwide to modernize on-campus student housing infrastructure while selectively acquiring and developing off-campus student communities. Founded in 2024 by student housing industry pioneer Bill Bayless, Maslow’s is led by a team of seasoned executives, including Jennifer Beese as Chief Operating Officer and William Talbot as Chief Investment Officer.

DEVELOPMENT: San Benito housing to cost $624 million. The University of California Board of Regents has officially approved UC Santa Barbara’s budget for the San Benito Housing project, a $624.4 million initiative aimed at adding 2,250 student beds to the campus. The San Benito Student Housing project is expected to be ready for occupancy by fall 2027.

DEVELOPMENT: NC State University to build $800 million housing project. North Carolina State University has embarked on its largest housing project in history, the Cates West Project, a nearly $1 billion initiative aimed at alleviating student housing shortages and modernizing campus accommodations. The multi-phase development will add 3,500 student beds in both traditional and semi-suite dormitory styles, along with a 1,500-seat dining facility, while replacing outdated residence halls. To make way for the new dormitories, the university will demolish several aging buildings, including Lee, Bragaw, and Sullivan Halls, which were built in the 1950s and 1960s, before accessibility regulations under the Americans with Disabilities Act (ADA).

PEOPLE MOVES: LV Collective brings in new Director of Acquisitions. LV Collective had appointed Reynold Toepfer as new Director of Acquisitions. Reynold will lead the LV team in identifying, evaluating, and securing student housing investment opportunities nationwide.

READ: February 2025 national student housing report.

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