The Preiss Company Named Manager of 323-Bed Student Housing Complex
Tuesday October 04, 2016
October 04, 2016 08:55 AM Eastern Daylight Time
BALTIMORE & RALEIGH, N.C.--(BUSINESS WIRE)--Officials of The Preiss Company, ranked the nation’s third largest privately held owner/operator of private student housing today announced they have been named managers of The Varsity at UB Apartments in Baltimore, MD, consisting of 323 beds.
Built in 2012 to serve Baltimore’s urban universities, The Varsity at UB Apartments is located directly across the street from the University of Baltimore and also attracts students from seven other universities within a five- to 15-minute radius, including the Maryland Institute College of Art (MICA), Johns Hopkins University, Loyola University of Maryland, Notre Dame of Maryland University, Towson University, Stevenson University and Goucher College. Located at 30 West Biddle Street, the 11-story brick building is comprised of 323 beds in 114 units, offering studio, two- and four-bedroom floor plans. Amenities in the fully furnished, upscale units include granite counter tops, black appliances and private bedrooms and baths. Other features include a 24-hour state-of-the-art fitness center, computer lab, private study rooms and an on-site Dunkin Donuts.
“Preiss will have a record growth year in 2016 with well over half-a-billion dollars in transactions, and third-party management will continue to play an important role in our planned expansion,” said Donna Preiss, chief executive officer. “We now serve 12 different ownership groups as a third-party operator. We continue to have a healthy appetite for third-party management opportunities, but remain highly selective in the type of properties we operate and acquire. We work only for those properties where we are confident we can add immediate and long-term value to the owner/investors.
‘The Varsity at UB Apartments is somewhat unique in serving so many diverse universities within a close radius,” Preiss added. “That situation offers a number of opportunities for our property management team to create a unique experience for all of our student tenants.”
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 is ranked the nation’s third largest privately held owner-operator of private student housing in the nation. For more information, visit www.tpco.com.