The Preiss Company Adds 2,664 Beds During 2024 First Quarter

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The Preiss Company Adds 2,664 Beds During 2024 First Quarter

RALEIGH, N.C. , April 18 /Businesswire/ - Officials at The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, today announced the company added 2,664 beds to its portfolio during the first quarter of 2024. Comprised of seven third-party management assignments and one joint venture acquisition, the eight properties further strengthen the company’s footprint in multiple markets throughout N.C., Texas and Ga.

“Over the past four years, we have invested heavily in our personnel and organizational infrastructure to create significant bandwidth for our organization allowing us to add these new properties to the portfolio,” said Adam Byrley, Chief Operating Officer. “With these eight additions, our total portfolio grows to 34,799 beds nationwide. We are expanding at a historically fast pace, and we hope to maintain this rate for the remainder of 2024 and beyond.”

The new properties include:

Third-Party Assignments

The 732-bed/271-unit East Village in Charlotte, N.C.
The 48-bed/12-unit The Lookout in Chapel Hill, N.C.
The 504-bed/168-unit Madera in San Antonio, Texas
The 696-bed/211-unit The Province in Greensboro, N.C.
The 96-bed/48-unit Blue Hill Apartments in Raleigh, N.C.
The 52-bed/32-unit Green Spring Apartments in San Marcos, Texas
The 388-bed/76-unit Sparq on Rio in Austin, Texas

Joint Venture Acquisition

The 148-bed/32-unit The Collective at Kennesaw in Kennesaw, Ga.

“With eight new properties in our portfolio, four of which introduce new client relationships, we’re enhancing our presence in familiar markets and expanding into new ones,” said Mike Kivitz, Director of Strategic Partnerships at TPCO. “Our understanding of these market’s fundamentals empowers us to immediately enhance resident satisfaction and financial outcomes, reflecting our commitment to excellence in property management.”

About The Preiss Company

Now in its 37th year, Raleigh-based The Preiss Company specializes in developing, acquiring, and managing multifamily and off-campus student housing. Ranked among the top 10 largest, privately held student housing owner-operators in the nation, TPCO is a recognized leader in the industry. For more information and career opportunities, visit www.tpco.com.