CHARLESTON, SC – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing, has closed $600 million for three mixed-use university student housing projects at the University of Maryland, College Park and University of Texas at Austin (UT Austin).
The investment includes two projects at UT Austin, a tier 1 research institution, the fifth largest enrollment in the nation, and is the 15th ranked public university in the nation. Union on San Antonio, a Public Private Partnership (P3) with St. Austin Catholic Parish is a $170.7 million high-rise, delivering 425 units and 991 beds, and the new Catholic parish, rectory and K-8 school for $32 million. The Union is located on the corner of San Antonio and 21st street, one block from the UT Austin campus. Amenities include a pool, rooftop deck, and a fitness center. The project designed by Page and Greystar’s Austin team will oversee development and construction management with Hensel Phelps as the general contractors.
The second UT Austin project, The Union on 24th includes a $262 million high rise, delivering 552 units and 1,448 beds to the West Campus submarket. Greystar will lead the development and self-perform construction.
The University of Maryland’s Knox Road development is a $140 million Public Private Partnership with Terrapin Development Company (TDC) an entity comprised of the University of Maryland College Park (UMCP) and the University of Maryland College Park Foundation. The gateway project consists of 341 units, 788 beds, 22,000 square feet of retail, a multi-use outdoor common space, and a fitness center. The 1.66-acre site sits on the research institution’s corner of Knox Road and Sterling Place, adjacent to the residence halls and surrounding retail corridor. The project was designed by WDG, and Greystar’s Mid-Atlantic team will oversee the construction of the project with JMA as the general contractor.
“The successful financial close and ground-breaking of these three projects is a tremendous achievement by our development, finance, investment and university partnerships teams,” said Julie Skolnicki, Senior Managing Director of Greystar. “We’re seeing an increase in demand for high-quality student housing and complex mixed-use P3 structures at top tier institutions in the US and we’re thrilled at the opportunity to support the evolutions of these campuses. Greystar is consistently seeking innovative ways to elevate the collegiate living experience on and off campus, and we look forward to seeing these projects come to life.”
Construction on all projects is set to start in October 2021 and slated for completion in Fall 2024.

Powered by WPeMatico

ARLINGTON, TX – Leading commercial real estate firms Vertical Street Ventures, Invest in Multifamily, and Limitless Estates announce the joint acquisition of Garden Park Apartments in Arlington, Texas, a 252-unit apartment complex. The teams are led by Steven Louie, Jenny Gou, and Ronnie Gou of Vertical Street Ventures, Jon Winick of Invest in Multifamily, Kyle Mitchell of Limitless Estates, and alongside Partners Gil Ficke and Kathy Jang.
“We are excited to add Garden Park to our current portfolio and expand further into the Dallas Fort Worth Market. Texas continues to be a strong market for population and job growth” said Steven Louie, Managing Partner of Vertical Street Ventures. “As new residents arrive, we’re proud to provide housing solutions in areas of demand like Arlington. We are excited to improve and upgrade the Garden Park community and further serve the residents.”
Garden Park is a 252-unit institutional-quality apartment complex built in 1968 and partially renovated in 2020. This is a prime location in Arlington, which is considered to be the entertainment capital of Texas. It is three miles from the AT&T Stadium, home of the Dallas Cowboys, Globe Life Field, home of the Texas Rangers, and the Arlington Convention Center.
Garden Park’s amenities include a pool, brand-new playground, reserved parking, large outdoor patios, central barbecue area, fireplaces in selected units and an outdoor yoga space.
This is the fourth asset across multiple Texas markets to be added to the collective portfolio. Together, this team owns and operates more than 1,000 multifamily units worth over $130 million across Texas and Arizona. They are uniquely positioned to lead the optimization and growth of this property.

Powered by WPeMatico

MOUNTLAKE TERRACE, WA – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Maple Glen Apartments in the desirable Lynnwood/Edmonds/Mukilteo submarket of Seattle, Washington. The firm bought the property in 2015.
During their ownership, Hamilton Zanze completed numerous exterior and landscaping improvements, and renovated units with new lighting, windows, hardware, and balcony repairs to improve leasing efforts and quality of life at the community.
“We are elated with our business plot execution with Maple Glen and the outcome for our investors. Since acquisition, we were able to renovate units and implement expense saving measures and improve this community alongside the growth in Mountlake Terrace,” said Anthony Ly, director of dispositions at Hamilton Zanze. “The early delivery of the nearby light rail expansion will certainly make the property a very desirable location for a long time to come.”
The Maple Glen Apartments were built in 1986 and is located at 5424 212th Street SW in Mountlake Terrace. The property comprises 106 one- and two-bedroom units averaging 794 square feet. The community features a fully renovated clubhouse with fitness center, lounge, swimming pool, sauna, and spa.
Maple Glen Apartments is in the Lynnwood/Edmonds/Mukilteo submarket of the Seattle metro area. The community is centrally located near Interstate 5, Interstate 405, and the Seattle-Tacoma International Airport, which provides nonstop flights to domestic and international destinations. The property is in proximity to large employers including Amazon, Naval Station Everett, and Boeing. Seattle’s economy benefits from stable employment growth in mid- and high-paying sectors and is home to eight Fortune 500 companies.

Powered by WPeMatico