The Preiss Company’s Donna Preiss to Discuss State of Student Housing at 2010 InterFace Conference
Monday April 05, 2010
Raleigh Real Estate leader says student housing continues to remain robust despite sluggish economy
RALEIGH, NC – April 5, 2010 – Donna Preiss, Founder and CEO of The Preiss Company, will serve on this year’s panel at the InterFace Student Housing Conference to be held on April 8th at the New York City Bar Association in New York. The one-day conference will discuss the state of the student housing industry as it relates to opportunities to build or buy projects off-campus, as well as engage in public-private partnerships with colleges and universities on-campus.
On its website, Interface states that the student housing industry is “one of the most active and healthy niche markets in commercial real estate today. College and university applications continue to increase—a trend that may actually be enhanced by the economic downturn, which makes it harder to get a job and increases the premium on education. All of these students need a place to live and many increasingly look to private student housing operators, making student housing a recession-resistant, if not recession-proof, property type.”
Preiss, a frequently-requested speaker at student housing conferences, forums, and events, echoes the sentiment that the current state of student housing is indeed very strong despite the downtown in real estate.
“The [student housing] fundamentals have not worsened significantly during this downturn period. There are many expressions such as ‘Pray and delay’, ‘Extend and pretend’, ‘Kick the can down the road’, and my personal favorite, ‘A rolling loan gathers no loss’. All of these have been used to describe the current loan default period. Student housing may be the only niche where this hopeful strategy may actually be successful.”
The Preiss Company is currently the 12th largest provider of off-campus student housing in the nation. The company employs over 200 team members and is largest provider of off-campus student housing at North Carolina State University, Clemson University, Auburn University in Alabama, Coastal Carolina University in SC and the University of Texas in Austin and the second largest provider at UNC Charlotte. Their Myrtle Beach property—University Village at the Coast—was featured in the November/December 2009 issue of Apartment Finance Today as one of the publication’s “13 Most Creative Deals of 2009”.
Preiss adds that student housing opportunities lie in operations and that the industry is a specialty niche that requires an experienced and specialized workforce. She says that investors or banks dealing with student housing should ensure that their management team is experienced and has a clear understanding of the industry.
“The Preiss Company is getting quite a few requests to do student housing property management across the country,” says Preiss. “Our company is working with groups that are developing new apartments, banks who have foreclosed, and investors who realize they cannot sell and must have good annual cash on cash return.”
The InterFace Student Housing Conference targets owners and operators of student housing and explores leading issues and trends in the recession-resistant student housing industry. This year’s conference will serve to [re]introduce the student housing industry to Wall Street and the institutional investment community as both a niche asset class and strong investment and financing opportunity. For more information, visit http://www.interfaceconferencegroup.com/.
About The Preiss Company
Founded in 1987 by Donna Preiss, The Preiss Company employs over 200 team members and is largest provider of off-campus student housing at North Carolina State University, Clemson University, Auburn University in Alabama, Coastal Carolina University and Winthrop University in SC, and the University of Texas in Austin and the second largest provider at UNC Charlotte. TPCO provides a wide range of services including acquisition, property management, due diligence, construction management, development, and consulting for multi-family real estate investments. Beginning its 23rd year, the company has formed over 50 partnerships and developed over 20 projects stretching from Maryland to Texas. In 2009, the company was awarded the Steady Growth and Profitability Master Award by the Greater Raleigh Chamber of Commerce. For more information, visit www.tpco.com.
About InterFace Student Housing
InterFace Student Housing Investment & Finance is produced by France Publications, the leading publisher of commercial real estate news and information in the United States. France Publication titles include Heartland Real Estate Business, Texas Real Estate Business, Southeast Real Estate Business, Northeast Real Estate Business, Western Real Estate Business and Shopping Center Business, along with six other commercial real estate-oriented magazines and five regionally driven magazines focused on wealth management.
Amy Barger, Marketing Director
The Preiss Company