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Student Housing Daily - May 21 - Core Spaces acquires Illinois community

Student Housing Daily - May 21 - Core Spaces acquires Illinois community

Stonebridge acquires 1,006 beds. Fresno City College selects partner. Parallel adds new accounting manager. Student housing unlocked. Four new student housing deals.

Aid Sopjani & Matt H
May 21, 2025

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NEWS ROUNDUP

ACQUISITION: Core Spaces acquires Illionois community. Core Spaces has acquired 212 East, a student housing community serving the University of Illinois. Further details on the acquisiton were not released.

ACQUISITION: Stonebridge acquires 1,006 beds. Stonebridge Property Group has acquired The Trails at Wolf Pen, a 1,006-bed student housing community near Texas A&M University in College Station, Texas. Eli Zakay and Morris Levy led the acquisition team for Stonebridge, whereas Jeyton McNair and Mitch Holt of McNair Collegiate Partners represented the undiscoled seller.

DEVELOPMENT: Fresno City College selects Servitas for student housing project. The State Center Community College District Board of Trustees has unanimously approved a deal with Texas-based developer Servitas to lead a $94 million, 360-unit student housing project on the Fresno City College campus. Planning for the project began in 2022 following a $34.1 million state grant. The district will now enter into a $215,000 pre-development agreement with Servitas to conduct a feasibility study, expected to take five months. The final development agreement is anticipated by early 2026. If completed, the project will offer housing at an estimated cost of $261,000 per bed.

PEOPLE MOVES: Parallel adds new accounting manager. Parallel has appointed Jennifer Davila as its new Accounting Manager. Davila brings over two decades of experience in development and multifamily accounting.

LISTEN: Student housing unlocked with Coastal Ridge’s Co-CEO.

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