South Carolina Student Housing Asset Changes Hands

The Preiss Co. joined forces with a major global asset manager to purchase the 504-bed community near the University of South Carolina.
1105 Shop Road. Image via Google Street View

The Row at the Stadium, a 504-bed student housing asset in Columbia, S.C., has changed hands. Joint venture partners The Preiss Co. and Nuveen Real Estate acquired the property—formerly known as Reign Living at the Stadium—from Reger Holdings, according to Yardi Matrix.

The property opened its doors last summer, after one year of construction. Fortress Investment Group originated $33.1 million in construction financing for the project in 2019.

Located at 1105 Shop Road near the Williams-Brice Stadium, the community is 1.5 miles southeast of the University of South Carolina’s campus. Two other schools—Allen University and Benedict College—are approximately 3 miles north.

The Row at Stadium has 10 buildings with a mix of fully furnished three-, four- and six-bedroom units. Community amenities include a lazy river, hot tub, 24-hour fitness center, outdoor lounge and volleyball court. The property is also near a variety of restaurants and shops.

At then end of last year, Preiss acquired Aspen Heights, a 600-bed student housing property in Auburn, Ala. The investor partnered with a private equity real estate company advised by Crow Holdings Capital.