The Preiss Company (“TPCO”), the largest housing provider of off-campus student housing at North Carolina State University, Clemson University, and UNC Charlotte has announced the creation of an Acquisition and Development Team. This group, comprised of key TPCO brokers, will focus on the market research and identification of key value-add acquisitions over the next three years.
The Team is headed by Susan Folckemer, Vice President of Development & Sales for The Preiss Company and includes key team members Dan Leff, John Preiss, Alexis Lambeth, and Elizabeth Pardue. The team represents over 75 years’ of real estate experience with over $250 million in student housing development and acquisitions, with an additional $145 million in the development/acquisition pipeline.
Donna Preiss, CEO of The Preiss Company, knew that her company’s growth plan over the next several years was aggressive and required individuals with the experience and capability to effectively charge in to these new markets. “Our objective is to grow our portfolio by approximately $150,000,000 in acquisitions or development during 2007 alone," says Preiss. "Our Property Management platform allows us rapid growth in markets where we currently have product. In new markets, we have developed quick due diligence and transitional programs that allow for successful adaptation to this aggressive growth initiative. It’s an ambitious goal, but I believe we’ve put together the right team that will enable us to realize our goal and achieve our overall corporate objectives."
TPCO recently acquired University Village Austin, a 1,152-bed student housing project at the University of Texas-Austin. It was the company’s first student housing acquisition in Texas. In less than 12 months, TPCO has started development on or has acquired four properties representing over 2,932 beds.
"University Village is our first footprint in to the deep south and western markets," says Susan Folckemer. "Our team is focused primarily on the east coast, down through the Texas marketplace; however, we are working on several opportunities throughout the United States. This is all inline with The Preiss Company’s goal of growing our presence throughout targeted university markets and becoming the largest off-campus provider in each of the markets we select."
The Preiss Company team is a regular participant in the National Multi-Housing Council meetings. Donna Preiss has become a sought after Student Housing national speaker for NMHC, NNCREW and NAA. The company has been a multi-year recipient of the Raleigh Chamber of Commerce’s coveted Pinnacle Business Award, winner of Metro Magazine’s Metro Bravo Award for Residential Real Estate, and winner of the Triangle Fast 50 Award for fastest growing company. The Wake County Homebuilders Triangle Sales and Marketing Council has also recognized The Preiss Company on multiple occasions as a Top Sales Awards winner. Recently, the company was recognized by Triangle Business Journal as one of the Triangle’s Top Women-Owned Businesses.
About The Preiss Company
The Preiss Company was founded in 1987 by Donna Preiss with a mission of maximizing real estate investor returns by helping in all aspects of real estate investment. This includes the selection, purchase, sale, exchange, and management of property. Since that time, it has formed more than 50 partnerships, has been the developer or co-developer of over 20 projects in North and South Carolina and Texas, and has provided residences for more than 7,000 college students annually.