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Student Housing Daily - October 2 - CRG breaks ground on 516 beds

Student Housing Daily - October 2 - CRG breaks ground on 516 beds

Parallel Collective to build 265-unit complex. Dwight Mortgage Trust provides $35M recap. Lawrence Group adds new senior project manager. Winning student residents with design. Four new student housing deals.

Aid Sopjani & Matt H
October 02, 2025

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NEWS ROUNDUP

DEVELOPMENT: CRG breaks ground on 516 beds. CRG has started construction on Chapter Mifflin, a 516-bed student housing community adjacent to the University of Wisconsin-Madison. The six-story project is scheduled to deliver for the 2027–28 academic year, with pre-leasing slated to begin in summer 2026.

DEVELOPMENT: Parallel Collective to build 265-unit complex. Parallel Collective is set to develop a 265-unit, 621-bedroom student housing complex near Baylor University after purchasing half of the land owned by Seventh and James Baptist Church. Construction is scheduled to begin in 2026 with completion expected in 2028.

FINANCING: Dwight Mortgage Trust provides $35 million recap for Texas student housing. Dwight Mortgage Trust, the affiliate REIT of New York-based Dwight Capital, has funded a $35 million recapitalization of Camber Villas, a 490-bed student housing community in Bryan, Texas, across from Blinn College. The transaction was originated by David Scheer and Jack Baron of Dwight Capital and arranged by Culby Culbertson of Culbertson Holdings.

PEOPLE MOVES: Lawrence Group adds new senior project manager. Lawrence Group has hired Nick Naeger as Associate Principal/Senior Project Manager. Naeger, a Kansas State University architecture graduate, launched his career in 2005 and has worked on projects for Penn State, Notre Dame, Colorado State, Texas Tech, and Washington University in St. Louis.

READ: Winning student residents with design.

STUDENT HOUSING FOR SALE

Click each image for more information:

27 North | 27 N. 6th St., San Jose, CA 95112

482 Beds | 98.3% Occupancy | Avg. Unit Size: 1,080 SF | Avg. Market Rent per Bed: $1,302

The Block & Park East | Lubbock, TX

Two Properties | 1,288 Beds | Avg. Market Rent: $563 | Can Be Bought Individually

The Hills of Harrisonburg | 1070 Lois Ln, Harrisonburg, VA 22801

Two Properties | 1,440 Beds | 96% Occupied | 0.2 Miles to Campus

The Vic | 705 Milton Street, Greensboro, NC, 27403

790 Beds | 94% Occupancy | $1.5M Invested in Upgrades by Current Ownership

ONE MORE THING

I told a guy I’d pay $5 million for his property.
He said, “But it appraised for $11 million.”
So I said, “Perfect. Sell it to the appraiser. Maybe they’ll throw in a fruit basket and a commemorative plaque.”
He said, “Appraisers don’t buy property.”
Right. And thermometers
— Mendy Pollack (@creMBP)
7:55 PM • Jun 5, 2025

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