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Student Housing Daily - May 7, 2026 - Elevate secures $116M loan for student housing development

Student Housing Daily - May 7, 2026 - Elevate secures $116M loan for student housing development

Preiss and FD Stonewater plan two projects. Greystar and UT Austin break ground. Palatine Capital Partners names new Head of Student Housing. Resurgence of student housing development in 2026. Four new student housing deals.

Aid Sopjani & Matt H
May 07, 2026

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

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NEWS ROUNDUP

FINANCING: Elevate secures $116 million loan for student housing development. Elevate Development Partners has secured a $116 million acquisition and construction loan to build a 260-unit, 759-bed student housing community serving Texas State University in San Marcos, Texas. S3 Capital provided the financing in a deal arranged by Walker & Dunlop, marking the lender’s first student housing transaction. Steven Jemal, managing director of origination at S3 Capital, said the deal reflects strong student housing fundamentals at large public universities like Texas State. The Walker & Dunlop team arranging the financing included Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, and Dustin Stolly.

DEVELOPMENT: Preiss and FD Stonewater plan two projects. A JV between Preiss and FD Stonewater is preparing to break ground on two student housing developments in Raleigh and Knoxville that together will add more than 1,200 beds. The projects include a 679-bed community near North Carolina State University and a 528-bed community near the University of Tennessee. Both are scheduled for completion in fall 2027 and will offer fully furnished units in studio through five-bedroom layouts.

DEVELOPMENT: Greystar and UT Austin break ground on 340-bed residence hall. A public-private partnership between Greystar and the University of Texas at Austin has broken ground on a 340-bed housing development for UT’s law school students. The 14-story project will include 280 units in studio, one-, and two-bedroom layouts and is scheduled for completion ahead of the 2028–2029 academic year. The development was designed by Lemmo Architecture and Design, with Meeks + Partners as architect of record. The university is fully financing the project, while Greystar is serving as third-party developer, general contractor, and facility manager.

PEOPLE MOVES: Palatine Capital Partners names David Storch Head of Student Housing. Palatine Capital Partners has hired David Storch as principal and head of student housing. In the role, Storch will lead the Miami-based firm’s student housing platform, overseeing sourcing, underwriting, and execution, while also helping shape portfolio strategy and asset management across the sector.

READ: Resurgence of student housing development in 2026.