COLUMBIA, SC – Officials at The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, in a joint venture partnership with Nuveen Real Estate, announced the acquisition of the 504-bed student housing complex, Reign Living at the Stadium, rebranded as The Row at the Stadium. Located at 1105 Shop Road in Columbia, S.C., the community is located within walking distance of both the University of South Carolina campus and Williams-Brice Stadium.
“The Preiss Company has been looking for the right opportunity to enter the Columbia market for several years, said Donna Preiss, founder and CEO, TPCO. The Row at the Stadium is that opportunity. It checks all of our boxes.”
The complex offers 3-, 4- and 6-bedroom, fully-furnished town homes with features including granite countertops, stainless steel appliances, walk-in closets, in-unit laundry and 1GIG Wi-Fi internet access. In addition to bed-bath parity, all units feature an additional half bath.
Communal amenities include a bone idle river with music surround, oversized hot tub, 24-hour fitness center, outdoor media lounge and sand volleyball court. Additionally, residents can delight in a private campus shuttle, as well as close proximity to numerous shopping, entertainment and restaurant venues.
With 100% occupancy, a superlative physical plant and an unmatched amenity package, all within walking distance to the football stadium…we couldn t have questioned for a better project to act as our entryway into the thriving, Columbia marketplace, said John Preiss, chief investment officer, TPCO.

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IRVINGTON, NJ – Mayor Tony Vauss joined state and county officials, as well as The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, to break ground on a 56-unit affordable apartment community in Irvington, New Jersey.
Located at 722 Chancellor Avenue, the five-tale mid-rise building will offer a mix of one-, two- and three-bedroom residential units with parking. The apartments will be reserved for residents earning 60 percent or less than the area median income. Five of the 56 units will be set aside for residents with special needs, who will receive supportive services from the YMCA of Greater Newark. The Urban League of Essex County will also provide social services to all residents of the community.
The NRP Group is developing the community in partnership with Adenah Bayoh, a local developer and entrepreneur who has been spearheading the redevelopment of Irvington General Hospital on Chancellor Avenue. Bayoh manages an extensive real estate portfolio, consisting of multiple multifamily homes and apartment buildings throughout Irvington, Newark and northern New Jersey.
“With NRP’s mission to provide exceptional housing for people regardless of income, we’re looking forward to helping fulfill the significant demand for affordable options within the Irvington community,” said J. David Heller, Principal, President and Chief Executive Officer at The NRP Group. “By working in tandem with the Township and Adenah, this project will encourage the growth of, and investment in Irvington, while also enabling working families to continue contributing to its strong sense of community and sharing in the fruit of its resurgent economic prosperity.”
The property will make new construction and property management jobs, and improve the streetscape of the corner of Chancellor and Union avenues, two major Irvington roadways. A New Jersey Transit bus stop will be conveniently located directly outside of the community; access to the Garden State Parkway is only minutes away, providing a gateway to New York City and other neighboring metros. The building will be situated in a designated Redevelopment Area, Urban Enterprise Zone (UEZ) and Smart Growth Area.
Residents of the community will be able to delight in Energy Star certified, modernly designed units equipped with a wide array of amenities including central heating and air conditioning, luxury vinyl flooring, energy efficient refrigerators, stovetops, ovens, and dishwashers, as well as high-speed internet access and intercoms. They will also have access to free on-site parking, a perfectly designed community center for programmed activities, fitness center, children’s playroom, computer room, laundry facilities and an on-site management/leasing office.
“This redevelopment initiative was born from my larger vision to revitalize marginalized communities and provide impactful projects to the township of Irvington,” said Adenah Bayoh of Adenah Bayoh and Companies. “This project is continuing my passion for providing best in class affordable housing to individuals and families at every and all income levels and fulfilling the needs of the community. The NRP Group was a natural choice as a development partner for this project given their unprecedented level of expertise and experience with affordable housing. I look forward to doing more projects like this in the future.”
Financing partners include the New Jersey Housing Mortgage Finance Agency, JPMorgan Chase Bank, Hudson Housing, The Township of Irvington and Greater Newark LISC. In addition, the Irvington Housing Authority is providing five project based vouchers.
Leasing will start in June 2022, with final completion scheduled for November of 2022.

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SMYRNA, GA – TerraCap Management, a privately held investment firm based out of Naples, Florida, announced the sale of 23 Thirty Cobb Apartments for $41,100,000. The 222-unit apartment complex is located in the northwestern Atlanta suburb of Smyrna.
23 Thirty was bought by TerraCap in August 2018. During their ownership, TerraCap completed several capital projects at the property, including a new leasing office, new common area amenities, updated landscaping, new exterior paint, and new package lockers. TerraCap also implemented a unit renovation program, upgrading select units and generating significant rent premiums.
Robert Witt, TerraCap Partner and Asset Manager, said, “We are thrilled to be exiting this property after completing the goals that we established in our business plot. Our renovation program allowed us to push rents up more than 30% over the previous classic lease. This was a solid performing property that is poised for more growth in the future, due to the existing classic units at the property and the organic rent growth in the Atlanta area.”
23 Thirty is ideally located in Smyrna, GA with access to demand-driving amenities such as The Battery, a 1.5 million square foot mixed-use development adjacent to Truist Park, the home stadium of the Atlanta Braves. Matt Stewart, TerraCap Partner and Director of Asset Management said, “We are very pleased with the results of the 23 Thirty sale. The capital improvements we made to upgrade the unit interiors and exterior curb appeal unlocked significant rent premiums, highlighting the strong demand for well-located residential communities. Smyrna provides brilliant access to nearby amenities and job centers across Cobb County. We are grateful to First Communities and CBRE for helping us achieve the goals in our business plot.”

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