FAYETTEVILLE, AR – Strategic Student & Senior Housing Trust, a private real estate investment trust sponsored by SmartStop Asset Management, announced its acquisition of The District, a 198-unit, 592-bed student housing property adjacent to the University of Arkansas in Fayetteville. The buy price for the building was $57 million.

Formerly known as Sterling District, the 2.3-acre student housing property is located at 376 W. Watson St. and includes one-, two-, three- and four-bedroom, fully furnished floor plans. The District is currently 95 percent pre-leased for the 2017-2018 academic year.

“The District represents a best-in-class, off-campus, purpose-built and pedestrian-to-campus student housing community at the University of Arkansas,” said H. Michael Schwartz, chief executive officer of Strategic Student & Senior Housing Trust. “Completed in 2016, The District is an amenities-rich and modern urban wrap-design property that is consistent with our acquisition strategy of acquiring stabilized and purpose-built student housing assets adjacent to Tier 1 universities. The property includes many safety features, such as gated access, pass-key systems, on-site management with regular security patrols and an on-site, six-tale controlled access parking garage. In addition, we have retained Asset Campus Housing, one of the nation’s premier third-party student housing managers, to provide on-site management.”

Asset Campus Housing, which is a member of The Institute of Real Estate Management and is recognized as an Accredited Management Organization, currently manages in excess of 210 properties and 118,500 beds.

“Situated three blocks from campus and the famed Dickson Street, part of the U.S. National Register of Historic Places, The District provides residents with fantastic access to the campus, community and their peers,” said John Strockis, senior vice president of acquisitions of the REIT. “The property also includes a 500 megabytes-per-second internet service that further promotes connectivity for students and parents.”

Each apartment unit is fully furnished with state-of-the-art amenities and energy efficient appliance packages. Community amenities include a computer lab and business center; study rooms; an expansive pool, spa and courtyard; and a fitness facility with a separate yoga room.

The District is certified by the U.S. Green Building Council as LEED-Gold, the second-highest certification level that recognizes properties that use less water and energy, and reduce greenhouse gas emissions. In addition to its energy efficient appliances and other amenities, the property also provides preferred parking for fuel efficient vehicles, a bike-sharing program, increased natural light and close proximity to mass transit for ride-sharing.

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NEW YORK, NY – UC Funds, a vertically-integrated commercial real estate specialty finance firm, and HAP Investment Developers announced the grand opening of 329 Pleasant Avenue, an eight-tale, luxury apartment complex in East Harlem, New York.

The 21,500-square-foot modern building contains 20 studio, one, and two-bedroom apartments crafted by highly-regarded designer Karim Rashid. UC Funds and HAP have collaborated closely to bring the project to fruition since UC Funds originated the ground up construction loan in April of 2015.

“As development proceeded, UC Funds worked directly with HAP to overcome any barriers that arose along the way, providing them with the time and funding that was necessary to bring 329 Pleasant Avenue to life,” said Joel Pecoy, senior vice president of asset management at UC Funds. “The apartment building’s much anticipated ribbon cutting and grand opening represent the effective collaboration of UC Funds and HAP to successfully complete this project and bring top-notch apartment living to the evolving Harlem community.”

The East Harlem community is currently seeing a renaissance in commercial real estate development. 329 Pleasant Avenue is located near the well loved East River Plaza, which houses Costco, Target, and Best Buy. It’s also situated within close proximity to Thomas Jefferson Park, the Silberman School of Social Work at Hunter College, and local hospitals. Residents can delight in amenities such as: elevator access, private terraces, designer kitchen and baths, in-unit washers and dryers, a roof garden with panoramic views of Manhattan, and more.

Providing over $1 billion of capital solutions to date, UC Funds is UC Funds is known as the “go to” commercial real estate capital provider and the most sophisticated financial ally in the industry dedicated to developing and maintaining long-term relationships with its borrowers and has earned a strong reputation for providing extensive reliability, standing by borrowers through completion.

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HIALEAH, FL – BBX Capital Real Estate, a division of BBX Capital Corporation, announced that the first three buildings of apartment homes at Altis at Bonterra have been completed and the first residents have went in.

In January 2016 BBX Capital Real Estate entered into a joint venture with The Altman Companies to develop Altis at Bonterra. Located within BBX Capital Real Estate’s Master-Plotted community of Bonterra in Hialeah, Florida, Altis at Bonterra will comprise of 314 apartment homes on approximately 14 acres.

Altis at Bonterra features a mix of one, two and three bedroom apartment homes averaging approximately 1,063 square feet. Units feature gourmet kitchens, energy star appliances, granite counters, contemporary espresso cabinets as well as spa-inspired baths with raised vessel sinks, marble counters and spacious linen closets. The development offers a community garden, dog agility park and membership in a resort style 6,245 square foot clubhouse which includes a beach entry pool, pool pavilion, outdoor kitchen, pool-side cabanas, full circuit fitness center, movie entertainment area, game room, and a kids’ play ‘n study area.

“We are pleased to announce our continued progress with Bonterra,” said Seth Wise, President of BBX Capital Real Estate. Bonterra is a desirable location and is easily accessible to Miami, the proposed American Dream mega mall and nearby employment opportunities. Interest in the community remains strong and we are excited to be working with The Altman Companies to bring a luxury apartment community to the city of Hialeah.”

Including Altis at Bonterra, when completed the master-plotted Bonterra community will comprise of approximately 128 acres of land and feature 1,171 highly stylized single-family homes, villas, town homes, and apartments, along with several parks and a 15 acre lake.

BBX Capital Real Estate is also in a joint venture with CC Homes – a Codina-Carr Company, to develop approximately 394 single-family homes at Bonterra, and sold an approximate 36-acre parcel of land in Bonterra to Lennar Corporation, on which Lennar is building approximately 463 single-family homes, villas and townhomes.

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