CA, a vertically integrated real estate investment management company based in Chicago, delivered nine new student living communities with more than 3,900 beds for the start of the 2020-21 academic year. According to RealPage, approximately 41,000 beds were slated for delivery in the U.S., with CA representing nearly 10% of that total.
The newest additions to the firm’s student portfolio are in prime locations near top colleges, including Auburn University, North Carolina State University, Penn State University, and the universities of Alabama, Minnesota, Nevada, and North Carolina Wilmington.
“Delivering nine student assets in one year is a record for CA and a notable accomplishment by industry standards,” said Michael Hales, president of student living at CA. “To have successfully executed on our biggest year ever while also navigating the countless, unforeseen challenges posed by COVID-19 is something we are all incredibly proud of. We are thrilled to be welcoming our staff and residents into these exceptional new communities—communities they can call home no matter what obstacles lie ahead this year.”
While campus operations are in flux due to COVID-19, according to CA, its properties will remain open, allowing students to complete their studies from their campus-adjacent homes. Floor plans range from studios or one- to five-bedroom apartments, with private bathrooms for each student in most units. The residences also include furniture packages, mounted smart TVs, high-speed Wi-Fi, modern kitchens with stainless steel appliances and quartz countertops, and in-unit laundry.
All nine of the student properties are managed and leased by CA’s property management team. Each community also offers robust programming to foster connection among the students, enhance study habits, and assist in attaining career goals.
The developments opening for this academic year include:
- HERE Minneapolis and Uncommon Dinkytown: 195 beds and 421 beds, respectively, at the University of Minnesota in Minneapolis;
- HERE State College: 755 beds at Penn State in State College;
- Latitude on Hillsborough and Uncommon Raleigh: 523 beds and 345 beds, respectively, at North Carolina State in Raleigh;
- Uncommon Auburn: 610 beds at Auburn University in Auburn, Alabama;
- Uncommon Reno: 330 beds at the University of Nevada in Reno;
- Uncommon Tuscaloosa: 296 beds at the University of Alabama in Tuscaloosa; and
- Uncommon Wilmington: 392 beds at UNC Wilmington in Wilmington.
