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Campus Apartments Announces $175 Million in New Development

PHILADELPHIA – September 27, 2016 – Campus Apartments, one of the nation’s largest providers of on and off-campus student housing, has announced three new student housing developments, totaling more than 1,700 beds, in Tennessee, South Carolina and Pennsylvania.

Through a joint venture with Collegiate Development Group, Campus Apartments will develop two off-campus student communities at the University of Tennessee-Knoxville (603 beds) and Clemson University (706 beds). Both projects will offer a pedestrian-to-campus location, state-of-the-art amenity package and ground floor retail. Currently under construction, the Clemson development is scheduled for delivery in August 2017, while the Knoxville development is slated for an August 2018 completion. Campus Apartments has also partnered with University of the Sciences in Philadelphia to develop a 400-bed freshman residence hall to mark the start of a multi-phase effort to improve facilities across the University over the next several years. The third-party development is scheduled for completion in August 2018.

“Each of these student communities responds to a specific market need,” said Daniel Bernstein, President and Chief Investment Officer at Campus Apartments. “At USciences, we’re creating a true live-learn community equipped with social and academic space that will support the institution’s rigorous academic culture and student life objectives. At UT-Knoxville, we’ll provide a value-conscious market with high-density unit types at an affordable price point, and at Clemson we’ll cast a wide net by offering studio through five bedroom units in the heart of downtown.”

The two new off-campus development projects are the latest investment of the Campus-Clarion Student Housing Partners, LP Fund. Closed in April 2015, the fund targets investments in university-related real estate through acquisition and development, both on- and off-campus, throughout the US.

“We’re confident that each project will be well-received by its respective student body. It’s an exciting time for Campus Apartments and our fund,” continued Bernstein.

About Campus Apartments
Founded in 1958, Campus Apartments is one of the nation’s largest providers of on- and off-campus student housing. As a vertically integrated firm, Campus Apartments is experienced in all facets of the student housing industry. The company has $2 billion in assets under management in 24 states, serving more than 70 colleges and universities. For more information, visit: www.campusapts.com and connect with Campus Apartments on Twitter and Facebook.

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