PEAK CAMPUS ADDS 3,155-BEDS TO MANAGEMENT PORTFOLIO
Dec 12, 2014
Atlanta, Georgia – Peak Campus Management announced today that it was selected as property manager for a portfolio of five properties totaling 3,155 beds that serve the students of Florida State University (FSU) in Tallahassee. The properties, Osceola Ridge, Osceola Suites, Park at Forest Ridge, The Park at Midtown, and University Heights, offer a unique mix of floor plans that range from 1-bedrooms to 4-bedrooms.
Each property is located in good proximity to FSU and offers distinct amenities to its residents. Osceola Ridge and Osceola Suites have a combined bed count of 756 with an amenity package that includes a clubhouse, swimming pool, fitness center, and Jacuzzi/hot tub. Park at Forest Ridge is a 947-bed property that offers a unique mix of amenities including a sand volleyball court, basketball court, golf simulator, rock wall, hot tub, swimming pool, fitness center and mini-theater. The fourth property, The Park at Midtown, is 576-beds and features a swimming pool, Jacuzzi/hot tub, volleyball court, basketball court, and covered parking. The last property, University Heights, is an 876-bed property that offers units with in-unit washer/dryers, a swimming pool, fitness center, volleyball court, storage facilities, and covered parking. Significant capital improvements, including full rebranding, clubhouse renovations and unit improvements are planned at all five assets in the coming weeks and months.
“We are delighted to be working with our new partners on these projects,” Bob Clark, President at Peak Campus Management said. “This particular portfolio further expands our management platform in the one of the largest markets in the country, and we are confident that our partners’ planned improvements to the products, coupled with Peak Campus’ management strategy, will do well in creating a world-class housing opportunity for students at Florida State University. Furthermore, this large portfolio transition, the closing of which took place the day before the annual turnover process began, further cements Peak Campus’ capabilities in taking on complex assignments in high pressure situations.”
Benjamin MacFarland, Partner at Collegium said, “In order for Collegium to execute on a portfolio of this size and complexity, which involved a complete management overhaul, we required a best-in-class student housing property manager. Peak stood out as the right choice and had the resources to put the boots on the ground and systems in place prior to our closing.”
Peak Campus is currently well underway in leasing all of the properties for fall of 2015.
Peak Campus Management is an institutional-grade property management company, based in Atlanta, Georgia, focused exclusively on the student housing industry. The Company’s seasoned professionals offer a proven ability to execute on the goals and long term investment strategies of its partners. Peak Campus Management currently oversees 72 assets at over 38,000 beds, with a combined valuation of over $2 billion for investors nationwide. For more information on Peak Campus and its full array of real estate solutions, please visit www.PeakCampus.com.