RALEIGH, NC – Officials at The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, announced the addition of three third-party management assignments to its nationwide portfolio of student housing communities. Totaling 1,887 beds, the three properties include Greene Crossing in Columbia, S.C., Millennium One in Charlotte, N.C. and 33 North in Denton, Texas.
“We remain committed to growing our third-party management business, with these three new additions bringing our student housing portfolio to 32,034 nationwide, said Adam Byrley, Chief Operating Officer, TPCO. As owners ourselves, we know what it takes to provide outstanding service while maintaining profitability for stakeholders. We are familiar with these markets and are confident we can make an immediate, positive difference in their bottom lines.
TPCO brings a wealth of experience to each of the assets. The company has operated in the Charlotte market since 2005, and Greene Crossing marks its second student housing complex in the Columbia market, both at 100% occupancy. Additionally, 33 North is TPCO s 14th asset in Texas serving ten university markets.
Our owned and operated portfolio stretches from coast to coast, providing us invaluable insights into markets that many others simply cannot replicate, Byrley added. We can quickly implement scales of economy and shared best practice that make an improved resident experience and reduce overhead costs. Following the implementation of our proprietary management and marketing systems, we are confident these assets will become the residences of choice in their respective markets.

Powered by WPeMatico

ASHVILLE, NC – Clarion Partners Real Estate Income Fund has strategically added to its property holdings with the acquisition of Retreat at Weaverville, a 176-unit multifamily community located in Asheville, N.C.
Located within two hours of Charlotte, N.C. and four hours of Atlanta, Asheville is a thriving mountain city that offers residents and tourists access to extensive outdoor activities via the Blue Ridge Mountains and surrounding national forests. Asheville continues to expand its employment base in hospitality, healthcare, manufacturing and science and technology, driving higher than national-level population growth. Retreat at Weaverville is located within one mile of Interstate 26, providing direct access to the Asheville Regional Airport and numerous retail and lifestyle amenities in downtown Asheville and the River Arts District.
With its strong market fundamentals, multifamily remains well-positioned to weather today s challenging economic conditions, said Managing Director and Clarion Partners Real Estate Income Fund Portfolio Manager Rick Schaupp. This particular property was an brilliant opportunity to buy a newly constructed and stabilized community in a growing submarket with compelling resident demographics. We believe Retreat will be a strong addition to the fund s holdings as Asheville continues to attract more and more young professionals looking for the best of both city life and the fantastic outdoors.
Completed in 2021, Retreat sits on a 16.85-acre site and is comprised of seven three- and four-tale, wood-framed residential buildings with ample open-surface parking spaces and 28 detached garages. Current community amenities include a clubhouse, coffee bar, dog wash station and off-leash dog park, fitness center, yoga and spin room, office workspaces and a swimming pool. The newly selected property manager will complete numerous amenity upgrades over the next year, including pool furniture upgrades, clubhouse enhancements, the installation of property access gates, the addition of a parcel locker and elevated landscaping.

Powered by WPeMatico

WASHINGTON, DC – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera H Street, a contemporary apartment community located on the east end of Washington, D.C.’s notable H Street Corridor.
Modera H Street, which will feature 325 homes and unimpeded views of Downtown Washington, D.C. and the Capitol, will offer residents an extensive collection of restaurants and some of the city’s trendiest nightlife and entertainment options. The midrise community will sit along the DC Streetcar, an above-ground trolley system which will allow residents to travel along the H Street Corridor without the need for an automobile. First go-ins at Modera H Street are anticipated for early 2025.
“We feel extremely fortunate to have the opportunity to add to the built environment in this neighborhood,” said Peter Braunohler, managing director of development for Mill Creek Residential. “The H Street Corridor is one of the most exciting submarkets in D.C., and unique compared to many quick-growing areas in the District, because of its deep history and authentic DC energy. We look forward to offering a best-in-class product to serve as a premier housing option in this eclectic neighborhood.”
Located at 801 17th Street NE, Modera H Street sits within proximity of six grocery stores, including ALDI and Safeway—which are adjacent to the community—along with Whole Foods, Trader Joe’s, Harris Teeter and Giant, all of which are within a 10-minute walk. The community is also close to the city’s key employment centers in both the public and private sectors, including tech and media companies, law firms, financial and consulting institutions, and the federal government. The site is less than 1.5 miles from Union Station, D.C.’s major train station and transportation hub.
Modera H Street will be built to meet LEED Silver standards, and will feature studio, one-, two- and three-bedroom homes. Community amenities will include a rooftop deck, outdoor swimming pool, fire pit, grilling area, landscaped courtyards, resident clubhouse, coffee bar and a club-quality fitness center with separate yoga studio. The pet-friendly community will also offer controlled-access garage parking, dedicated bike storage, additional storage options and EV-charging stations.
Apartment interiors will include nine-foot ceilings, wood plank-style flooring, stainless steel appliances, quartz countertops, tile backsplashes, soft-close cabinets, under-cabinet lighting, moveable kitchen islands, in-home washers and dryers, walk-in closets and smart thermostats.

Powered by WPeMatico