GRAPEVINE, TX – The Praedium Group, a New York City-based national real estate investment firm, announced the acquisition of Terrawood in Grapevine, TX. Peter Calatozzo, Managing Director of The Praedium Group, made the announcement of the investment firm’s most recent acquisition.

Built in 2010, Terrawood consists of 291 units comprised of one-, two-, and three-bedroom units ranging in size from 701 square feet to 1,455 square feet. Unit interiors feature expansive 10′ ceilings, granite countertops, hand-scraped wood floors, stainless steel Energy Star appliances, side-by-side refrigerators with water and ice dispensers, kitchen islands with undermount sinks, 2-inch blinds, full-size Whirlpool washer & dryers, walk-in closets with wood shelving, oval soaking tubs, gourmet islands with pendant lighting, spacious balconies, and accent walls. Community amenities include a glass encased conference center, fitness center with premium cardio and free weights, private bark park, salt water pool, outdoor seating and kitchen area, and a splash fountain.

Terrawood is located in Grapevine, a highly desirable Dallas-Fort Worth suburb with one of the top ranked school districts in Texas. “The Property boasts strong demographics and is situated amongst one of suburban North Dallas’highest-end single family residential neighborhoods; a submarket with high barriers to entry that has seen few deliveries since 2010 and has limited projected supply,” added Calatozzo.

“The Dallas-Forth Worth market continues to demonstrate some of the strongest population growth in the U.S., and this Property will benefit from the robust employment growth which has occurred across North Dallas and is projected to continue for some time,” noted Kelsey Durels, Associate of the Praedium Group.

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HYATTSVILLE, MD – Safanad Limited, the global principal investment firm, and Vie Holdings, a US-based real estate investment company specializing in student and multifamily housing, confirmed the acquisition of The Towers at University Town Center, Maryland.

Safanad led the $69.5 million transaction, its second with Vie Holdings, primarily deploying capital from its own balance sheet to bring forward an attractive opportunity for US, GCC and Asian private and institutional investment partners.  

The firm’s strategy is to identify and actively manage stable value-creation opportunities in sectors that are underpinned by long-term trends and market displacements to grow its strong and diversified baseline portfolio. 

A $5 million renovation program will commence immediately to enhance the living experience with new rooftop finishes, expanded services, upgraded units and potentially additional facilities.

Chris Aiken, Senior Director of Real Estate at Safanad, said: “We are seeing a consistent increase in demand for purpose-built and well-managed student housing as US and international students expect high quality and lifestyle-led accommodation. Demand is compounded in locations where there is undersupply of on-campus housing and growing student populations.

Aiken added: “In the case of The Towers, we already have fantastic housing that is well connected and surrounded by entertainment options. Our priority is to support the management and initiate an upgrade program to further improve the living experience and make greater value for our investors.”

The Towers student housing community consists of two 16- & 17-tale buildings of two, three and four-bedroom homes. Located just minutes’ walk from two metro lines and 7 miles from the center of Washington, D.C., it meets demand from students attending nearby Howard University and the University of Maryland and other universities and colleges in the Washington, D.C. metropolitan area.

It is surrounded by well loved restaurants and nightlife and has extensive amenities including a fitness center, rooftop pool, spa, dining services and a large study lounge to provide convenient and sociable student living.

A principal global investment firm, Safanad deploys its own capital as a lead investor with the support of its investment partners and private and institutional clients.  

The firm’s priority sectors to date include healthcare, education, student housing, suburban offices, automotive technology, data centers and retail operations.  Inclusive of this transaction, Safanad currently owns or controls over $9 billion in real estate and private equity assets worldwide.  

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