AUSTIN, TX--(Marketwired - January 31, 2017) - Campus Advantage, a leader in student housing, providing property management, consulting, acquisitions, and development services, today announced the takeover of six student housing properties near East Carolina University, Penn State University, and the University of South Carolina. This is the second phase of acquisitions resulting from the company's recent investment partnership with Saban Real Estate, a subsidiary of Saban Capital Group.
In November, Campus Advantage announced a collaboration with Saban Real Estate and a three-phased acquisition plan for a 19-property American Campus Communities (ACC) portfolio. The first phase, which closed on November 16, 2016, included eight tier one university student housing properties for the University of Missouri, Louisiana State University, and the University of Alabama.
"Our phase one properties are benefiting from a fresh set of eyes, new programs, upgraded amenities, and capital improvements that provide enhanced, supportive communities for students," said Mike Peter, President and CEO of Campus Advantage. "We are now both excited and ready to bring our expertise and time-tested approach to these next six university communities."
Through programmatic joint ventures, Campus Advantage has built its property portfolio of owned and managed properties to ~30,000 beds, making Campus Advantage the sixth largest owner/operator in the United States. This investment further builds upon the Company's dedication to provide rewarding living, learning, and career experiences. This dedication to residence life combined with an integrated marketing approach results in a nearly 97% occupancy rate, industry-leading resident renewal rates, and low maintenance costs thanks to satisfied residents.
Campus Advantage continues to add new corporate team members, and upgrade resources and capabilities to the benefit of all portfolio assets.
About Campus Advantage
Campus Advantage is an Austin-based real estate firm that offers student housing management, development, acquisition, and consulting services. The company has been creating successful communities since its founding in 2003. Its proven expertise and time-tested approach creates better student living experiences, which in turn creates financial success. For additional information, please visit www.campusadv.com.