Preiss Company Enters Joint Venture in Boca Raton, Florida
Thursday January 21, 2016
892 Off-Campus Student Beds Near Florida Atlantic University
Boca Raton, FL., January 19, 2016 – Officials of The Preiss Company, the nation’s third largest privately held owner-operator of private student housing and the 5th largest third-party management company, today announced the closing of a portfolio of three student housing properties located in Boca Raton, Florida together with their joint venture partner Investcorp.
The properties, University View, University Square and University Park are comprised of 892 total beds and located within a mile of the Florida Atlantic University campus and also serve Palm Beach State College and Lynn University. Each property provides unique floor plans, a wide array of amenities and impressive accommodations for student lifestyle.
University Park was built in 2015 and spans across 11 acres on Northwest 20th Street. It is comprised of 599 beds and 160 units offering 1, 2, 3 and 4 bedroom floor plans. It features a 13,500 square foot, 2-story clubhouse with a 24-hour fitness center, computer labs, juice bar, resort-style pool, hammock lounge and grilling stations among other modern features. The property also offers a shuttle for transportation to and from both Florida Atlantic University and Palm Beach State College. The property is the only community in the city to offer 4 bedroom apartments.
University View was constructed in 2009 and is located adjacent to Florida Atlantic University on NW 4th Court. It is comprised of 55 3-bedroom townhomes totaling 165 beds. Among other features, University View offers direct-access parking to 2-car garages attached directly to each unit. Both standard and upgraded units are available.
University Square, while initially constructed in 1969, has benefited from extensive clubhouse and interior unit renovations in 2014 and 2015. It is comprised of 128 beds and 90 units offering 1 and 2 bedroom floor plans. University Square is a favored choice for upperclassmen and graduate students who prefer a more residential setting while still offering all of the desired community amenities expected in a student property.
“TPCO is excited to add three properties to our Florida portfolio”, said founder and chief executive officer, Donna Preiss. “We have been very successful with our projects in Orlando and Gainesville. The Boca properties will increase operational efficiencies and allow us to enjoy the excellent student housing growth in Florida.”
About The Preiss Company:
Celebrating its 29th year, Raleigh-based, The Preiss Company specializes in the development, acquisition and management of off-campus student housing. The company currently is the nation’s third largest privately held owner-operator of private student housing and the 5th largest third-party management company in the nation. The company¬¬’s portfolio currently is comprised of over 28,000 beds located in 16 states and 33 markets. For more information, visit www.tpco.com.