Preiss Adds Three Student Housing Facilities to Florida Portfolio
The Preiss Company, in a joint venture partnership with Investcorp, acquired three student housing facilities in Boca Raton.
By Adelina Osan, Associate Editor
Boca Raton, Fla.—The nation’s third largest privately held owner-operator of private student housing recently announced the closing of a three-property portfolio in Boca Raton. The Preiss Co. acquired the assets in a joint venture partnership with Investcorp.
University Park
The three student housing facilities University View, University Square and University Park, are located within a mile of the Florida Atlantic University campus and also serve Palm Beach State College and Lynn University.
Adjacent to Florida Atlantic University on NW 4th Court, University View offers 55 three-bedroom townhomes totaling 165 beds. Community amenities include a resort-style pool, clubhouse and direct-access parking to two-car garages attached directly to each unit.
University Square was initially constructed in 1969 and was renovated in 2014 and 2015. Featuring 90 units and 128 beds, the student housing facility offers one- and two-bedroom floorplans. Due to its residential setting, University Square is a favored choice for upperclassmen and graduate students. The property comprises a range of amenities such as a lounge area, swimming pool, fitness center, sand volleyball court and study lounge.
University Park spans across 11 acres on Northwest 20th Street and offers 599 beds in 160 units with one-, two-, three- and four-bedroom floorplans. Amenities include a resort-style pool, two-story fitness center, clubhouse, gaming area and study rooms. The property also offers a shuttle for transportation to and from both Florida Atlantic University and Palm Beach State College.
“TPCO is excited to add three properties to our Florida portfolio”, Donna Preiss, founder & chief executive officer, said. “We have been very successful with our projects in Orlando and Gainesville. The Boca properties will increase operational efficiencies and allow us to enjoy the excellent student housing growth in Florida.”
Image courtesy of University Park
