PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: FireBrand Marketing, Inc.

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

The Preiss Company and HSBC Real Estate Equity Partners USA Acquire University Estates at Austin - Venture makes Raleigh real estate company the largest student-housing provider for the University of Texas in Austin
The Preiss Company and HSBC Real Estate Equity Partners USA Acquire University Estates at Austin

 

NewswireToday - /newswire/ - Raleigh, NC, United States, 2008/03/04 - Venture makes Raleigh real estate company the largest student-housing provider for the University of Texas in Austin.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The Preiss Company (“TPCO”), the largest off-campus student housing provider for North Carolina State University, Clemson University, and UNC Charlotte, is pleased to announce its recent strategic venture with HSBC Real Estate Equity Partners (USA), L.P. with the purchase of University Estates at Austin, a 1,548-bed apartment property located within three miles of the University of Texas. The acquisition was made by TPCO’s Acquisition and Development (A&D) Team, which includes Susan Folckemer, Dan Leff, John Preiss, Alexis Lambeth, and Kyle Barger.

University Estates, formerly known as Campus Estates in Austin, is located in Southeast Austin off of Riverside Drive. The 498-unit apartment property features three distinct floor plans: two-bedroom/two-bathroom, three-bedroom/three-bathroom, and four-bedroom/four-bathroom garden-style units. University Estates offers a full-range of amenities including clubhouse, fitness center, computer lab and study room, large club/party room, resort-style swimming pool with fountain and expansive deck, outdoor basketball court, and multiple sand volleyball courts.

The acquisition of University Estates makes The Preiss Company the largest off-campus housing provider at The University of Texas. Last year, the company acquired University Village at Austin—a 1,152-bed apartment complex located directly beside University Estates—and has since spent almost $2 million in property renovations and upgrades. TPCO Founder and CEO, Donna Preiss, says the location of their existing property made the University Estate acquisition even more valuable to her company.

“The increased presence of The Preiss Company in the Austin area clearly helps our company in a number of ways,” explains Preiss. “The ability to create efficiencies amongst staffing needs and marketing, the ability to pool resources and allocate them more efficiently, and the ability to facilitate more favorable rates in many of our contracts or services all serve to benefit our residents. By streamlining our administrative processes, we’re able to allocate more funds to property improvement, which increases resident satisfaction and retention. It’s this kind of forward thinking that continues to position The Preiss Company as a leader in the student housing industry.”

Preiss says that TPCO is planning on making $5.7 million in capital upgrades to University Estates including pool upgrades, unit improvements, landscaping, clubhouse renovation, and exterior building improvements. Upon completion of the capital upgrades, Preiss says that Campus Estates will offer the most amenities currently available in the Riverside market.

Andrew DiMiero of HSBC Real Estate Partners (USA), L.P. said, “We are excited to partner with an operator of Donna Preiss’ caliber. She and her team have proven time and again they understand student housing as well as anyone out there, and we are looking forward to working with them on this as well as future projects.”

“The Preiss team has a vision for this property, and we’re excited to help make that a reality," added Will Henderson, also of HSBC Real Estate Equity Partners (USA), L.P.

GE Real Estate provided senior debt financing for the Venture.

About The Preiss Company
Founded by Donna Preiss, TPCO provides a wide range of services including acquisition, property management, disposition, development, and consulting for multi-family real estate investments. Beginning its 21st year, TPCO has formed over 50 partnerships and has been the developer or co-developer of over 20 projects stretching from Texas to Maryland. The company recently acquired their first property in Alabama—University Village at Auburn.

About HSBC Real Estate Equity Partners (USA), L.P.
HSBC Real Estate Equity Partners (USA), L.P. is an investment vehicle managed by HSBC Private Equity Advisors, LLC. It invests in real estate transactions throughout the United States across a wide variety of asset types including student housing, traditional multi-family, office and hospitality. HSBC Private Equity Advisors, LLC, with over $1 billion in capital under management, manages private equity and mezzanine funds that invest in private companies and real estate ventures.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: FireBrand Marketing, Inc.

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Real Estate/Property Management articles,
CATCH Visitors via Your Competitors Announcements!


The Preiss Company and HSBC Real Estate Equity Partners USA Acquire University Estates at Austin

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Meghan Saliba 
919-532-1132 meghan.saliba[.]tpco.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any FireBrand Marketing, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Real Estate/Property Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From FireBrand Marketing, Inc. / Company Profile


Read Real Estate/Property Management Most Recent Related Newswires:

Ede Costa Team Joins Berkshire Hathaway HomeServices California Properties
Berkshire Hathaway HomeServices California Properties Opens New Office in Brea
Berkshire Hathaway HomeServices Nevada Properties Opens New Southwest Las Vegas Office
Berkshire Hathaway HomeServices Nevada Properties Appoints New Las Vegas Branch Manager
Homenova, Inc. Launches A Website for Private Home Sales
Real Estate Executives Appointed to GLVAR Board in Nevada
Westcorp CFO Named Top Tech Exec in Nevada
Berkshire Hathaway HomeServices Arizona Names New Manager
Berkshire Hathaway HomeServices California Properties Names Larry Tait Yorba Linda Branch Manager
Progressive Realtors Launches New Website to Connect Home Buyers & Sellers
Americana Holdings Forms Alliance with ListHub Global in Three States
Manhattan Boutique Real Estate Joins South China’s Leading Luxury Property Show
17th Annual Kansas City Pagan Pride Day - Harvest Festival and Craft Faire on September 13th
Celebrity Staging Expert Announces Ask The Stagers Platform
Berkshire Hathaway HomeServices Arizona Properties Welcomes Hamlet Terry Team

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  JobsWare.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)