PCH focused on sourcing acquisitions in areas within a close proximity to major public universities where supply and demand fundamentals were indicative of strong future property performance.
In addition, PCH has successfully overseen major rehabilitation projects that brought property condition and amenity packages up to today’s standard. The Case Study section provides a few examples of successful value-add projects. PCH has facilitated the acquisition of over 10,000 student housing beds across the nation.
Property / Location | Units | Beds | NRSF |
---|---|---|---|
Apache Station at Arizona State University | 400 | 684 | 422,592 |
Campus Club at the University of Florida | 252 | 924 | 329,700 |
Campus Park at Oklahoma State | 138 | 384 | 133,596 |
Gateway at Arizona State University | 288 | 918 | 289,704 |
Gateway at Sam Houston State University | 160 | 416 | 180,448 |
Gateway at Texas A&M University | 292 | 960 | 315,412 |
Gateway at Texas Tech University | 264 | 744 | 274,872 |
Gateway at the University of Arizona | 188 | 552 | 201,924 |
Gateway at the University of Missouri | 138 | 450 | 177,054 |
Gateway at the University of North Texas | 228 | 696 | 251,208 |
Gateway at the University of Tennessee | 192 | 720 | 223,296 |
Seminole Suites at Florida State University | 264 | 924 | 433,060 |
University Crossing at Kansas State University | 229 | 700 | 232,400 |
University Edge at Southern Miss | 156 | 552 | 210,732 |
University Glades at the University of Florida | 120 | 432 | 124,416 |
Total | 3,309 | 10,056 | 3,800,414 |
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GATEWAY AT KNOXVILLE, THE UNIVERSITY OF TENNESSEE
2005/06 School Year
•Economic Occupancy = 87.0%
•Average Collected Rent Per Bed = $350
•Average Collected Rent Per Square Foot = $1.13
•Several Leases were 10-month term
Post-Acquisition Capital Expenditures:
New Exterior Paint, Upgraded Interior Furniture, Upgraded Interior flooring and Lighting, Accent Walls within Units, Upgraded Clubhouse
Post-Rehabilitation Performance – 2008/09 School Year
•Economic Occupancy = 93.4%
•Average Collected Rent Per Bed = $395
•Average Collected Rent Per Square Foot = $1.28
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