Source: Campus Apartments
PHILADELPHIA, PA - Campus Apartments, one of the largest privately held student housing companies in the nation, has expanded its third party management portfolio in four markets. With many property owners nationwide seeking to consolidate management services under an experienced operator, third party management has become one of the fastest-growing lines of the company’s business.
Recently, Campus Apartments was awarded new contracts to manage student housing portfolios in four different states. In addition to assuming new management accounts of 506 beds in Ann Arbor, Mich., and 756 beds under development in Tucson, Ariz., the company has assumed management of properties in two new markets, with 928 beds in Morgantown, W.Va. and 933 beds in Norfolk, Va.
“Our long history of being developers, owners and operators gives us a unique perspective in the industry,” said Miles Orth, Executive Vice President and Chief Operating Officer of Campus Apartments. “This experience gives our clients great comfort and has allowed us to consistently grow our third party management portfolio and become a trusted, turnkey property management solution.”
Campus Apartments has an advantage over traditional third party management firms as it brings an owner’s mentality to all of its engagements and a unique ability to enhance a property’s value. As such, the company has seen an influx in new management opportunities and has been approached by an increasing number of student housing owners and investors who realize the value of experienced property managers.
Campus Apartments, LLC, the oldest and one of the largest privately held student housing companies in the nation, is a leader in the development and management of university affiliated real estate. The company has more than $1.5 billion worth of assets under management with more than 30,000 beds in 25 states.