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The Preiss Company Acquires the 288-Bed Estates at San Antonio

January 15, 2019

GREENVILLE, N.C.--(BUSINESS WIRE)--Jan 15, 2019--Officials of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, along with Centaline Investment Management Co., a diversified platform with 13 divisions, offering professional advisory and transactional services for real estate investments and financial planning, today announced the acquisition of The Estates at San Antonio. Located at 6515 Hausman Road, the 288-bed, 58-building complex is comprised of 104 units in cottage-style, two-story buildings and is less than two miles from the University of Texas – San Antonio (UTSA).

The Estates at San Antonio feature a variety of layouts, including two-bedroom/2.5 bath, three-bedroom/3.5 bath and four-bedroom/4/5 bath units. TPCO will manage the property.

“We remain bullish on the Texas university marketplace and are pleased to add our first student housing community serving the UTSA market,” said Adam Byrley, chief operating officer. “This marks our seventh community in the I-35 Corridor between Austin and San Marcos, creating numerous economies of scale and the ability to share best practices. Following its multi-million refurbishment, we are confident that The Estates at San Antonio will take its rightful place as the market leader.”

With an average size of 1,712 square feet, each unit provides a first-floor powder room, granite tile kitchen countertops, stained concrete flooring, modern light fixtures, full-size washer & dryer and patio/balcony. Additional community amenities include a large, resort-style pool, sand volleyball court, private campus shuttle, grilling/picnic stations and 24-hour fitness center.

The property is within biking distance to all university classrooms and athletic facilities, as well as a large offering of nearby retail and restaurant outlets.

“With enrollment of more than 30,500 students, UTSA is well on its way to becoming a Tier 1 University,” noted Donna Preiss, founder and CEO, TPCO. “Since making it their goal to achieve this status, the university has increased research spending by 97 percent, provided numerous nationally ranked programs, expanded multiple campus learning facilities and substantially improved the academic prowess of students attracted to UTSA. Between the plan’s implementation in 2007 and fall 2017, first-time freshman applications increased by more than 5,000 applicants annually, and the first-time freshman acceptance rates fell by 13 percent.”

The Estates at San Antonio shortly will begin a multi-million refurbishment program focusing on the clubhouse and amenity spaces.

About The Preiss Company

Celebrating its 32 nd year, Raleigh-based, The Preiss Company specializes in the development, acquisition and management of off-campus student housing. The company is ranked in the nation’s top 10 largest, privately-held, student housing owner-operator. For more information, visit www.tpco.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190115005193/en/

CONTACT: Amy Barger, Vice President of Public Relations

The Preiss Company

(919) 532-1114

amy.barger@tpco.com

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA TEXAS

INDUSTRY KEYWORD: EDUCATION UNIVERSITY TRAVEL LODGING REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: The Preiss Company

Copyright Business Wire 2019.

PUB: 01/15/2019 08:57 AM/DISC: 01/15/2019 08:57 AM

http://www.businesswire.com/news/home/20190115005193/en

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