Campus Evolution Villages Acquires a 535 Bed Property Serving Students at the University of North Ca.
[USPRwire, Wed Jul 22 2015] Campus Evolution Villages, LLC, announces today that it has acquired a pedestrian to campus student housing property in Wilmington, North Carolina serving students at The University of North Carolina Wilmington ("UNCW"). The acquisition of Campus Walk represents Campus Evolution Villages' continued growth by adding 535 beds to the company's growing portfolio. Campus Walk is just steps from UNCW and the heart of campus.
The property, comprised of 434 units, will be rebranded under the Campus Evolution Villages name as the company commences a property-wide $2MM comprehensive renovation plan. This transaction represents the 16th acquisition for Campus Evolution Villages which now owns and manages 25 student housing assets across the country.
"This property is a natural extension of Campus Evolution Villages' footprint in the Carolinas, where we own six properties and have our national operations headquarters. We are excited to add this asset to our portfolio in advance of the upcoming academic year." says Andrew Stark, CEO of Campus Evolution Villages. "The community offers students the best location in the market; it is the most proximate to campus in a beautiful setting in the heart of a student-focused city."
Evan Denner, Chief Investment Officer of Campus Evolution Villages, states "the addition of this property fits well with the portfolio we have assembled over the past few years. We plan to deploy another $2MM into renovating the property which will enhance the lifestyle and living experience for our residents. Our onsite team is already sharing the Campus Evolution Villages culture, benefiting from our brand immersion and looking forward to bringing the best we have to offer to the students of UNCW."
CBRE, Inc.'s National Director of Student Housing Jacklyn Fitts brokered the sale. The transaction was completed with an affiliate of Elliott Management Corporation as part of its student housing partnership with Campus Evolution Villages.
About Campus Evolution Villages, LLC
Campus Evolution Villages (www.cevillages.com), a top 16 owner/manager of student housing assets in the U.S., is a thought leader and change agent setting a new standard in student living. Campus Evolution Villages owns and manages a diverse portfolio of student housing assets across the U.S. It's a lifestyle built to support the student experience both in and out of the classroom. It is where students study hard and Live Big!
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