CA Ventures to Manage North Carolina Student Housing Property
- Oct 01, 2020
The property management division of CA Ventures has been tapped by Dewitt Carolinas to manage The Jolly Roger, an 804-bed student housing community being built adjacent to East Carolina University in Greenville, N.C. The property is expected to be ready by August 2021.
The Jolly Roger will have one- to four-bedroom floorplans ranging in size from 583 to 1,517 square feet. Apartments will come fully furnished and feature modern kitchens with quartz countertops and stainless steel appliances. The units will also have walk-in closets, private baths off each bedroom and in-unit laundry. Residents will share access to study lounges on each floor as well as a two-story fitness center with a yoga studio and outdoor exercise area. Other community features include a technology lab with complimentary printing, coffee bar, clubroom and rooftop pool deck with a large-screen television, grilling stations and seating areas.
The property will also focus on student wellness, a hallmark of all CA student living communities. Noby Takaki, vice president of wellness at CA, said in a prepared statement the company approaches wellness holistically and focuses not only on the resident’s physical well-being but also on how management can support them socially, emotionally, intellectually and environmentally. Takaki said third-party owners are seeing increased demand for the kind of programming CA does at its properties. The programming includes helping foster connections among residents, enhance study habits, encourage financial planning and assisting in attaining career goals.
Beth Pinder, head of operations at CA, said The Jolly Roger’s campus-adjacent location and wellness-oriented design aligns with the company’s existing portfolio. Pinder said the Chicago-based real estate investment management company looks forward to expanding its North Carolina presence while simultaneously growing its third-party management business.
CA has more than $13 billion in assets across the U.S., Europe and Latin America including student living, senior living, multifamily, industrial and medical office/life sciences. It also offers and has been growing its third-party management services for student, senior and residential assets.
In September, CA completed development of nine student housing communities totaling 3,867 beds in North Carolina, Alabama, Minnesota, Nevada and Pennsylvania. Three of the properties are located in North Carolina including two in Raleigh, N.C., and one in Wilmington, N.C. All nine properties are managed and leased by CA’s property management team.
In August, the company launched a new management platform to operate its student housing platform in Europe. Earlier this year, CA announced it was expanding its Latin American footprint by investing $325 million in new, ground-up student housing developments in the Mexican cities of Merida, Mexico City and Monterrey.