Peak Campus Expands Portfolio with More Than 1,000 Beds
Peak Campus was named manager of two properties totaling over 1,000 beds in Lawrence, Kan., and Conway, Ark.,s by Collegium Capital Partners.
By Andie Lowenstein, Associate Editor
Atlanta–Peak Campus was named manager of two properties totaling over 1,000 beds in Lawrence, Kan., and Conway, Ark., by Collegium Capital Partners. The properties, both formerly known as The Grove, will be renamed Rockland West and The Wayland, part of a complete rebranding strategy. The assets were acquired from Campus Crest Communities.
Rockland West, situated near the University of Kansas in Lawrence, is a 500-bed property offering both two- and three-bedroom floor plans with bed-to-bath equality. Units are furnished with top-of-the-line finishes. The Wayland, serving the University of Central Arkansas in Conway, is a 504-bed asset built in 2010. The property has two- and three- bedroom units with bed-to-bath parity, fully furnished, high-end finishes and in-unit washers and dryers. Both properties showcase a unique mix of amenities such as a fitness center, study room, sports court, computer lab, resort-style pool, sand volleyball court, full basketball court, fire pit, tavern-style game room, clubhouse, indoor tanning, full coffee bar and grilling area.
Peak Campus has a vigorous capital improvement plan, including clubhouse renovations and unit improvements at both properties. Plans for amenity developments include an expanded, 24-hour fitness center with upgraded equipment and Fitness On-Demand, upgraded computer labs and improved study rooms. Rockland West will have access to the sports court at its sister community, The Rockland, also in Lawrence, KS. Some units will receive enhancements such as vinyl plank flooring, stainless steel appliances, and upgraded furniture packages. Both properties will also be offering a new student shuttle for transportation to and from campus. Peak Campus has leasing at both properties for fall 2015 in full force.
“Peak Campus is pleased to expand our management presence in Lawrence, a market in which we now manage three assets, each with its own unique positioning. It’s exciting to enter the University of Central Arkansas market. We look forward to partnering with our client to reposition these assets within their respective local markets, and to set new standards in terms of product, customer service and performance. Peak Campus believes in the vision and looks forward to partnering to unlock the potential in these assets,” Bob Clark, president at Peak Campus said.