Author Archives: ipgocorp

Campus Advantage Acquires 930-Bed Off-Campus Student Housing Community in Orlando, Florida

Posted on by

AUSTIN, TX – Campus Advantage, a leading student housing company, bought The Edge in Orlando, Florida, as part of the company’s investment strategy to buy highly occupied properties near major, high-growth universities such as the University of Central Florida (UCF).

The acquisition of The Edge makes Campus Advantage one of the largest acquirers of student housing assets with more than $675 million in acquisitions. The Edge acquisition is the first acquisition under a second round of funding received by Campus Advantage from a major state pension fund. The Orlando student housing market is just one of the markets nationwide in which the company is expanding its presence in response to local market demands.

“We have a lot of acquisitions in the pipeline,” said Michael Orsak, senior vice president of investments for Campus Advantage. “We expect 2016 to be the most active year our company has seen so far. We are excited for these new opportunities and look forward to growing our portfolio of student housing properties and in serving students during this vital time of their lives.”

The Edge is located just to the west of the University of Central Florida campus and includes 312 units and 930 beds. The University of Central Florida is the largest university in the nation (undergraduate enrollment) with more than 60,000 students, according to U.S. News and World Report. Campus Advantage is plotting significant capital investments in The Edge, including a complete renovation of all units.

The property’s amenities include a 24-hour fitness center and recreation center with billiards, foosball and ping pong, swimming pool with hot tub and sundeck, barbecue grills, movie theatre room, tennis court, sand volleyball court, basketball courts and study rooms. Its units feature private bedrooms, leather-style furniture, washer/dryer and fully-equipped kitchens. 

The Edge is in close proximity to UCF and also along the university’s shuttle bus route. It is just minutes from Bright House Networks Stadium and the UCF student union. The Edge also has convenient access to Valencia College, Seminole State College of Florida and Full Sail University.

Powered by WPeMatico

Housing Myths, Debunked: Millennials, Not Baby Boomers, Are the Driving Force Behind the Recent Surge in Apartment Demand

Posted on by

(RECAP: Well loved notion holds that Baby Boomers downsizing their homes are a major force behind the recent apartment boom. One recent article noted that the “magnitude of Boomers’ rental demand [has stunned] some industry observers,” while another asserted that “boomers are renting apartments and buying condos at more than twice the rate of their millennial children.” The problem with these accounts is that they aren’t supported by the data. By far, the most vital generational driver of apartment demand growth between 2009 and 2014 was the Millennials. Even within the large-building market segment, where Boomer apartment demand is increasing most rapidly, Millennials are still the dominant driver of growth: The increase in Millennials’ consumption of rentals in 50+ unit buildings during the last five years was more than three times as fantastic as that of Boomers.)

Powered by WPeMatico

‘A Great Proposal in the Wrong Place:’ Old Arcola School Reuse Plan Under Fire

Posted on by

(RECAP: Windy Hill Foundation’s proposal to save ancient Arcola Elementary School by converting the building into affordable housing is under fire. Last March, the county questioned for proposals for a public-private partnership to save ancient Arcola Elementary School, which is listed on both state and federal registers of historic places. The Windy Hill Foundation, which builds affordable housing in Northern Virginia, made the only proposal that met all of the request’s requirements. Windy Hill proposes to renovate the building into apartments and build a separate two-tale, 36-unit apartment building on the property. The foundation would also include five units for the intellectually and developmentally disabled. But the building is about two and a half miles from the end of one of Dulles Airport’s runways. Airport representatives and some supervisors wonder whether putting in housing there might not be doing future residents any favors.)

Powered by WPeMatico