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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