December 08, 2021
LUBBOCK, TX - Officials at The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, and a private equity real estate fund, announced the acquisition of The Collective at Lubbock, an 847-bed student housing complex. TPCO plans to begin a multi-million capital improvement project scheduled to begin Spring of 2022 and completed in phases over the next three years to minimally impact residents. Acquisition financing was arranged by Ben Roelke and Ian Walker at Newmark. The 70% LTC senior loan featured a 5-year, interest-only term and a sub-2%...