Are there housing, retail, hotel or office properties near your campus that would benefit from renovation, repositioning or adaptive reuse? Concord Eastridge is actively seeking to acquire:
• Existing student housing complexes that need upgrading
• Existing multi-family residential projects that could be renovated or repositioned to better serve the campus community
• Existing aging neighborhood retail centers that could be transformed into more vibrant commercial amenities for your school
• Existing “tired” hotel and conference facilities that with upgrading could attract higher quality meetings and conferences
Concord Eastridge’s College/Community Improvement Program is successfully executed through either purchasing existing housing or apartments and improving their quality, or purchasing a different existing product such as a shopping center or office building and changing all or part of the use to new housing and other desirable uses.
Off campus housing stock serving university students is often aged and outdated. While this product offers affordable rental rates compared to newly built product, it also frequently provides poor living conditions, and sometimes safety issues. Concord Eastridge has the ability to renovate these products to like new condition while still providing a lower price alternative for students. Additionally, we work with qualified national student housing managers who understand the value a residence life program brings to a community including a better quality of living and increased safety.
As an example of repositioning an existing property adjacent to a university’s main campus, in 2008 Concord Eastridge helped one of its academic clients complete the acquisition of a shopping center in close proximity to its campus. Over the past two years, we have executed a large-scale redevelopment plan by tearing down obsolete portions of the retail center to build new student housing facilities along with new office and retail space, along with a much-needed state-of-the-art parking garage. This project is a great example of improving underutilized real estate in a high demand location. Sites like this exist in many collegiate markets where opportunities are often not identified because of the ability to work around an existing structure is simply overlooked.
If there is an existing property close to your campus which you think could have a better use or the product needs a dramatic improvement, we encourage you to contact us. We have the financial means and creative skill set to help existing real estate better serve the needs of your college and community. Contact: Mike Haller, SVP National Business Development 877-850-5070 or write mhaller@concordeastridge.com .
|
