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- Student Housing Daily - October 23 - Pumphouse JV acquires 1,188-bed portfolio
Student Housing Daily - October 23 - Pumphouse JV acquires 1,188-bed portfolio
Inland expands in Charlottesville with $107M acquisition. Cardinal Group and PGIM break ground. Desai and York plan $45M project. Why University partnerships are the future. Four new student housing deals.
Aid Sopjani & Matt H
October 23, 2025
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NEWS ROUNDUP
ACQUISITION: Pumphouse JV acquires 1,188 beds. A JV between Pumphouse Residential Group, WeldenField Development, and SPM has acquired The Lodge of Athens (University of Georgia) and Wildwood Baton Rouge (Louisiana State University) from Alden Street Capital Management. The two student housing communities total 444 units and 1,188 beds. Peter Katz of IPA, along with Steve Greer and John Leonard of Marcus & Millichap, represented the seller.
ACQUISITION: Inland expands in Charlottesville with $107 million acquisition. Inland Real Estate Group and The Scion Group have acquired The Flats at West Village in Charlottesville for $107 million. Scion’s Amy Finn confirmed plans to evaluate upgrades to the building and highlighted the company's focus on value and resident experience.
DEVELOPMENT: Cardinal Group and PGIM break ground on 493-bed project. A JV between Cardinal Group Development and PGIM has started construction on a 493-bed student housing community near Virginia Tech in Blacksburg, Virginia. The project will consist of 215 units across two five-story buildings and 50 three-story townhomes, each offering a private rooftop terrace and two-car garage. The project is expected to be completed before the 2027–2028 academic year.
DEVELOPMENT: Desai Companies and York Developments plan $45 million project. Desai Companies and York Developments have proposed a $45 million mixed-use redevelopment on a former stormwater detention site behind Walk-On’s in Starkville, Mississippi.
STUDENT HOUSING FOR SALE
Click each image for more information:
Legacy Village | 18000 Legacy Village Court, South Bend, IN, 46635
84 Beds | 10% Occupied Since Delivery in 2009 | Over 100% Leased For ‘25-’26 and ‘26-’27 | 5.7% Average Annual Rent Growth For the Last 7 Years
Mac 4460 | 4460 S Macgregor Way, Houston, TX, 77021
327 Beds | Built in 2014 | 94%+ Occupancy in Consecutive Lease-Ups | CFO: October 30th
Distinct Management & Investment Student Housing Portfolio | Bloomington, IN
Four-Property Portfolio | 119 Units | 100% Occupancy | Value-Add Potential
Student Housing Site Near UVA Grounds | 2306 Price Ave, Charlottesville, VA 22903
0.46 Acres | By Right: 28 Units (48 Bedrooms) | With Density Bonus: 56 Units (96 Bedrooms) | Price: $900,000
ONE MORE THING
31% of student loan borrowers with a payment due are in “late-stage delinquency,” or over 90 days past due on payments, the highest share ever recorded, per TransUnion.
— unusual_whales (@unusual_whales)
12:17 PM • Jul 2, 2025
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