Meet the New Homestead U VP of Operations

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Holly Golebiowski, VP of Operations for Homestead U

Holly joins the team as the VP of Operations for Homestead U. She is a graduate of Tiffin University with a BA in Business Administration. She is from the village of New Riegel, Ohio, that is small in size, but known throughout the state for their BBQ Ribs. The village was so small that they did not field a high school football team and there were 32 people in her graduating class!

Holly has over 17 years of industry experience.  In her career, she has served in the full spectrum of operating roles, including several on-site and corporate management positions with such organizations as Peak Campus Management, College Park Communities, the student housing division of GMH Communities Trust (NYSE: GCT), and Dinerstein Companies.

In her free time she enjoys spending time with her husband on their boat. When not on the boat she is typically spending time with one of her 7 brothers or 2 sisters that she is very close with.

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Employee Spotlight: Junior Horn

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HornName: Junior Horn

Job Title: Maintenance Supervisor

Property: Century City

1.) How long have you been with Homestead?: 1.5 Years.

2.) What were you doing before Homestead?: Maintenance.

3.) Where are you originally from?: Inez, KY

4.) What is your dream vacation?: Going to the Grand Canyon or seeing the ocean for the first time.

5.) What do you like to do outside of work?: Fishing and spending time with grand children.

6.) What is the best concert you have ever been to?: George Jones.

7.) What is the most challenging part about your job? Problem solving water leaks.

8.) What is a talent you have?: Carpentry

9.) Tell us something about yourself that would surprise us: If I were to tell you it wouldn’t be a surprise.

10.) What is your proudest moment at HU? Being promoted to supervisor and working with great people.

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River Gate Project Featured in Columbus Business First

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BusinessFirst

Columbus Pacific Properties and Homestead U to co-develop new off-campus student housing at Ohio University

By Brian R. Ball, Staff Reporter

ExteriorColumbus-based Homestead U (a division of Homestead America) will expand its student housing portfolio in Athens next summer with an apartment project currently under construction.

Homestead U and California-based Columbus Pacific Properties have the 232-bed River Gate student housing project on Ohio University’s South Green under construction next to three other properties they have owned and managed for the past three years. The two, three, and four bedroom apartments will join River’s Edge, River Park and River Annex in Homestead U and CPP’s Athens portfolio, marketing director Kathryn Benadum told me.

The River Gate project, slated for an August 2016 opening, will offer higher-end finishes and amenities than the existing buildings, according to a news release.

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Homestead U Featured in Student Housing Business

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Renovations, CapEx and ROI

by Amy Bigley Works

Click here to read on the StudentHousingBusiness.com

Crafting a relevant and balanced renovation strategy can lead to big pay-offs for operators and owners of student housing properties.

Right now, renovation is a hot buzzword in the student housing industry. With the right preparation and plan, a renovation can be a big pay-off for an owner’s return on investment, but it’s not always as simple as a fresh coat of paint or new appliances. Each property and market is different and requires its own dedicated research to understand if a renovation is needed and/or what type of renovation will offer the largest rent driver or value-add potential.

First Steps

For the River Park at Ohio University in Athens, Ohio, Homestead U executed a $1.2 million renovation for the 958-bedroom property. The crowning jewel of the renovation was the addition of an exterior amenity area, including a new resort-style pool, pool house and barbecue area.

For the River Park at Ohio University in Athens, Ohio, Homestead U executed a $1.2 million renovation for the 958-bedroom property. The crowning jewel of the renovation was the addition of an exterior amenity area, including a new resort-style pool, pool house and barbecue area.

There are many approaches to renovating student housing properties, but the first step is identifying properties and.solidifying a plan. On the acquisition side, there are two trains of thought on how to approach a new asset: 1) simply as a cash-flow property with no renovations, or 2) as a value-add property with potential rent increases from renovations. For many in the student housing industry, the potential of rent increases from renovations wins.

 

 

 

 

Creating a successful property with premium rents that compete with new product is a huge draw, and many companies have crafted business plans around that idea.

Chicago-based The Scion Group has spent the last six years purchasing older properties (five to 10 years old) from REITs and other companies with a renovation as part of the initial acquisition plan. Birmingham, Alabama-based Capstone Real Estate Investments (CREI) has infused more than $9.1 million in direct construction expenses for 2014-2015 delivery and has nearly $22.5 million in renovations slated for a 2015-2016 delivery across its portfolio. And Raleigh, North Carolina-based The Preiss Company spent more than $10 million on renovations as part of either acquisition or recapitalization plans.
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Columbus Pacific Properties Acquires The Cottages of College Station!

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Purchase of Texas A&M Off-Campus development marks CPP’s continued expansion in Tier 1 and Tier 2 college markets

COLUMBUS, OH–SEPT. 15, 2014—With the acquisition of The Colleges of Cottage Station near the Texas A&M campus, Columbus Pacific Properties has grown to over 7,000 beds in their student housing division since its launch in 2012. Dave Anderson, Founder and President of CPP’s management arm Homestead U, projects further growth in 2015 as the company targets additional properties in the Midwest and Southwestern-U.S. markets. “Our goal is to continue to grow, and double the size of the CPP/HU portfolio in the next 24 months. We are continually evaluating deals as to whether they fit our business model and company strategy,” says Anderson. The Cottages of College Station offers diversity to the portfolio, as it is the company’s first recently built Class A community, and only cottage product in the portfolio. At 1,354 beds situated on 41 acres, The Cottages is the largest luxury student housing complex in College Station. Homestead U’s management team plans to add value to the asset by focusing on enhancing the student experience. “The property is absolutely gorgeous, their presence in the market is strong, and the amenities are A+, so no rebranding or major capital projects are on the horizon,” says Laura Formica, Vice President of Operations for Homestead U. “Our onboarding strategy is to ask our residents what they want…and then deliver. First order of business; valet trash service.” Columbus Pacific Properties and Homestead U have added eight Off-Campus student housing properties to its portfolio in the past two years. The company focuses on Class-A and Class-B properties situated in close proximity to Tier 1 and Tier 2 universities. The company owns and manages off-campus student housing properties at Ohio State University, Ohio University, University of Arizona, Texas Tech University and Texas A&M University.

Click here to read about it in Student Housing Business!

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Student Housing Business – Tier 2 Attraction

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Homestead U’s Dave Anderson and CPP’s Brian Shirken are featured in this article published on 10/4/13

Click here to visit Student Housing Business

TIER 2 ATTRACTION

— Susan Fishman of SHB Magazine

SHB_HeaderIt’s a market with many names — “non-flagship,” “secondary,” “Tier 2” (which tends to have a less desirable connotation and, therefore, may be a misleading moniker), and more and more, it’s a market that’s attracting the American student. Some student housing developers believe non-flagship markets will be relatively untapped for years to come. Still others say they can quickly become overbuilt as many developers seek them out for their enrollment growth stories and often less expensive land. In fact, the bulk of the American demographic is attending non-flagship schools, according to Ted Rollins, CEO for Campus Crest Communities.

“In the past five years, we’ve seen a 12 percent growth in enrollment, which is more than the flagship schools,” Rollins says. “47 percent of the students who attend public state universities go to non-flagship schools, and we’ve seen an average value proposition on tuition of about 17 percent less than flagship schools. We’ve also seen an increase in foreign enrollment and an increase in the average length of stay, which is currently about five years, versus four from the past few years.” Continue Reading →

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Student Housing Business Magazine: Company Profile

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Homestead U Acquires The Reserve at Star Pass

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– Second student housing property managed in the Tucson market –

Tucson, AZ (December 28, 2012) – Continuing their expansion into off-campus student housing, Homestead U (HU) and has added The Reserve at Star Pass to its owned/managed portfolio;  a 336 unit (1,020 bed) resort style student apartment property in Tucson, Arizona, 5.6 miles west of the University of Arizona (UA) for $26 million.
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Homestead U Closes Acquisitions in Tucson and Lubbock

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– New Projects add 1,649 Beds to Growing Student Housing Portfolio –

Columbus, OH (October 5, 2012) – Continuing their expansion into off-campus student housing, Homestead U (HU) and equity partners Columbus Pacific Properties (CPP) has finalized the acquisition of two additional student housing projects; NorthPointe Student Apartments in Tucson, Arizona and The Reserve on Frankford in Lubbock, Texas for $45.25 million. Continue Reading →

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