ATLANTA and CHICAGO, Oct. 23 /PRNewswire/ — The Place/BV Student Housing Fund, LLC, a real estate investment fund focused on the acquisition and development of student housing properties nationwide, announced its four most recent investments valued at over $80 million. These student housing development projects, all opening July 2008, are: Bryant Place serving the students of University of Central Oklahoma, Coleman Place serving the students of University of Arkansas-Little Rock, Vista Place, serving the students of Arkansas Tech University and Hill Country Place serving the students of University of Texas-San Antonio. BVP Managers, LLC, a joint venture between Atlanta, Georgia-based Place Properties, L.P. and Chicago, Illinois-based Blue Vista Capital Management, LLC, serves as the Manager of the Fund.
Brent Little, National Development Partner for Place Properties said, “We have been very fortunate to be successful at acquiring superlative locations for new student housing developments at these four schools which have a tremendous demand for new student housing.”
Bryant Place is the Fund's first investment in Oklahoma. This project is valued at over $17 million will be the first institutional grade student housing asset in the upscale community of Edmond and consists of 108 units/432 beds. Bryant Place will offer a clubhouse with onsite management, activity room, gaming center, computer lab, tanning beds, grilling stations, sand volleyball, resort-style swimming pool with hot tub, and carports.
In conjunction with the University District Revitalization Plan, Coleman Place, valued at over $18 million, will assist in the improvement of the University's surrounding residential and commercial areas. Positioned as the premier gated off-campus student community, Coleman Place will be a garden style community offering one-bedroom, one-bathroom, two-bedroom, two-bathroom or four-bedroom, four-bathroom units and an amenity package that includes a clubhouse with onsite management, swimming pool, activity center, computer lab, tanning bed, sand volleyball court and carports. The community consists of 132 units/420 beds and is located across the street from campus.
Vista Place situated on the site previously occupied by the on-campus graduate housing, is the Fund's second development in Arkansas. Valued at over $17 million, Vista Place enters the market as the only purpose-built student housing project with a deluxe student-oriented amenity package. The 108 unit/432 bed gated community offers a clubhouse, onsite management, gaming center, activity room, fitness center, tanning bed, sand volleyball court, swimming pool, grilling stations and carports.
Hill Country Place, valued at over $28 million, is Fund's third investment in Texas. Hill Country Place is positioned to serve the students of University of Texas-San Antonio which is experiencing tremendous growth, converting it to a regional academic powerhouse. Conveniently situated close to the University, Hill Country Place will offer a variety of 1, 2, and 4- bedroom units in which all rooms have private baths. Community amenities include a clubhouse, onsite management, gaming center, activity room, fitness center, tanning bed, basketball court, sand volleyball court, swimming pool, grilling stations and carports. Hill Country Place will be a gated community with select 24-hour amenities.
Blue Vista Capital Management, LLC, www.bluevistallc.com , Chicago, IL, is a leading national real estate investment management firm with in excess of $550 million in capital under management. Through its Blue Vista Sponsor Equity Fund series of funds, Blue Vista co-invests with acquirers and developers of all property types across the United States and select international markets. To date, Blue Vista has participated in joint ventures representing over $1.5 billion in total capitalization. In addition, Blue Vista has made investments in more than 6,600 student housing beds at nine universities since August, 2003.
Place Properties, L.P., www.PlaceProperties.com, has over 14 developments in various stages of construction nationwide making it one of the largest multifamily development and construction organizations in the country. Place Properties has developed more than $525 million of student housing properties since 1996 and currently manages more than 15,000 beds.
Contact: Jessica H. Nix
Director of Marketing and Public Relations
jnix (at) placeproperties (dot) com
SOURCE The Place/BV Student Housing Fund, LLC
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