STATESBORO, GA - FM Capital continues to expand their student housing portfolio with the recent acquisition of Campus Evolution Villages at Statesboro, a 528-bed (132 units) student-life community near Georgia Southern University.
"We capitalized on this opportunity and recognized the quality of this asset. With the growth of GSU, we knew it was the ideal fit for our portfolio approach and value-add strategy," says Joe Fishman, VP Acquisitions, FM Capital.
FM Capital plans to rebrand the property, The Vault at Statesboro. An exclusive, well-located, and amenity-rich place for students to call home. FM Capital has many exciting enhancements in the works, including a new clubhouse/game room featuring game-viewing lounge seating, café seating, ping-pong and billiards tables.
In addition, a full improvement will be made to the outdoor amenities, including a new hot tub, cabanas, fire pits, and grill stations by the pool. A new dog park will be added to the property as well. To suit student's active lifestyle, a new fitness center overlooking the pool, with on-demand exercise video software, will be completed by 2018. Lastly, to help students excel in their studies, a computer room and two private-study rooms will be built adjacent to the clubhouse.
FM Capital is actively acquiring student housing properties, in strong markets near and adjacent to universities with growing student populations.
FM Capital is a full service vertically-integrated Commercial Real Estate (CRE) investment firm, headquartered in New York and South Florida. FM Capital invests in commercial real estate and debt strategies. FM Capital has a proven track record. Since their inception in 2007, they've acquired and disposed of more than $1 Billion in assets, over 15,000 multifamily units, and over 3,000 student beds.