Student Quarters Makes First Housing Purchase in OK
- Aug 29, 2018
Atlanta-based Student Quarters has expanded its student housing portfolio into Oklahoma, acquiring Millennium Student Apartments near the University of Oklahoma, which houses 698 residents in 196 apartments.
“This is SQ’s largest acquisition, and our first in Oklahoma,” Andy Feinour, Student Quarters president & CEO, said in a prepared statement. “We worked hard over the summer to get it ready for students who joined us this fall.”
The firm’s management art, SQ Caliber, a property management joint venture with Caliber Living, will handle management, leasing, marketing, accounting and maintenance at the upscale student community.
“Caliber’s expertise will help us create and maintain an excellent atmosphere for our residents to live and study,” Feinour said.
Millennium’s residences range from studios to five-bedroom apartments—each with a private bedroom, bath and study space. The apartments can be rented fully furnished and come with energy-saving appliances, large flat-screen smart TVs, washers and dryers and walk-in closets. The apartments also feature keyless entry, high-speed Internet access and a patio or balcony.
Community amenities at the community include a resort-style pool and sun deck, hot tub, grilling areas, gated pet park, fire pits, TVs and athletic fields. The clubhouse has a 24-hour fitness center as well a computer lab, study lounges, coffee bar and pool tables. Wi-Fi is available through the community. Transportation to the OU campus is available.
Student Quarters, formed in 2013, targets the Southeast and Midwest and has experience in underwriting, repositioning and managing quality student housing. The portfolio includes at least 13 other properties—three in Murfreesboro, Tenn.; two each in Carrollton, Ga., and Greensboro, N.C.; one each in Athens, Ga.; Johnson City, Tenn.; Tuscaloosa, Ala.; Valdosta, Ga.; Colorado Springs, Colo., and Atlanta.
Oklahoma Student Housing
A new student housing community is open for the fall semester on the campus of the University of Oklahoma. Managed by Balfour Beatty Communities, Cross Village at 1691 Asp Ave. is a 413-unit mixed-use community for upper classmen. The four buildings have one-, two- and four-bedroom luxury suites and a total of 40,000 square feet of retail, fitness and entertainment space. The property also has a 1,000-space garage. Balfour Beatty Campus Solutions and partner Provident Resources Group developed the $194 million project.
Also on the University of Oklahoma campus, a partnership of KWK Architects and ADG Architects, both of Oklahoma City, completed the $75 million development of two residential colleges, Headington and Dunham, last fall. The 600-bed project is the first of its kind in Oklahoma and serves as living-learning communities for undergraduate residents.
Elsewhere in Oklahoma, Peak Campus announced in February it had a new management contract for a student housing property near the Oklahoma State University in Stillwater, Okla. Progress 405 is a 544-bed property with one-two and four-bedroom apartments in three buildings.