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The Preiss Company Announces Grand Opening of The Eastern on 10th in Greenville, N.C.

October 9, 2018

GREENVILLE, N.C.--(BUSINESS WIRE)--Oct 9, 2018--Officials of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, today announced the opening of the recently completed 425-bed student housing complex The Eastern on 10 th in Greenville, N.C. Located at 2301 E. 10 th Street in downtown Greenville, the three-building complex sits atop 10.13 acres and is less than one mile from East Carolina University (ECU).

The ground-up development, featuring a variety of one-, two- and three-bedroom units, incorporates the student lifestyle with Bohemian vibes to provide students with the finest academic living arrangements available to the campus. TPCO will manage the property.

“With our corporate headquarters in Raleigh and an additional 23 student housing complexes in North Carolina, we clearly have very deep roots in the state,” said Donna Preiss, founder and CEO, TPCO. “This concentration allows for a number of benefits to both students and TPCO as a whole. All our properties share best practices and shared economies of scale, and one obviously gains the best knowledge from players already active in a marketplace. We will use our vast wealth of local, regional and statewide insight to ensure The Eastern on 10 th takes and maintains its rightful place as the student accommodations of choice for area students.”

Completed earlier this year, the property features some of the markets’ largest garden-style units in studio, one-, two- and three-bedroom floor plans. All units include private bedrooms and bathrooms, as well as walk-in closets. Additionally, rooms are outfitted with granite countertops and stainless-steel appliances. The Eastern on 10 th also provides a resort-style pool, outdoor lounge with cabanas, grilling/picnic stations, 24-hour resident clubhouse, 24-hour fitness center and private study rooms. The complex also features a cybercafé, self-serve coffee bar and a 438-space parking lot.

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.

“While typically known for our acquisitions and rehab projects, we continue to seek development opportunities where we see room for improved student accommodations beyond what the market currently provides,” stated Susan Folckemer, chief acquisition and development officer. “With the addition of The Eastern on 10 th, we currently manage more than 3,342 beds in the ECU market. TPCO enjoys a strong market presence in key locations throughout the city and state, and we continue to seek additional growth opportunities to expand our presence serving the North Carolinian student body.”

About The Preiss Company

Celebrating its 30th 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/20181009005271/en/

CONTACT: The Preiss Company

Amy Barger, Vice President of Public Relations

919-532-1114

amy.barger@tpco.com

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA

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

SOURCE: The Preiss Company

Copyright Business Wire 2018.

PUB: 10/09/2018 08:50 AM/DISC: 10/09/2018 08:50 AM

http://www.businesswire.com/news/home/20181009005271/en

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