GTIS Partners and RISE Unite for Student Housing at University
GTIS Partners and RISE Join Forces for a New Venture
GTIS Partners LP (GTIS), a reputable global real estate investment firm, has partnered with RISE, a company known for its expertise in student housing developments. Together, they are expanding their joint venture to bring forth a remarkable student housing community near Auburn University.
Addressing the Student Housing Demand
Recent trends show a significant increase in enrollment at Auburn University, leading to a tighter student housing market. There has been a noticeable lack of new Class A developments in the vicinity of the campus. However, through their collaboration, GTIS and RISE have secured and developed a 4.3-acre site located just half a mile away from the university. This innovative project is projected to feature 718 beds distributed across 240 units, designed to offer a comprehensive living experience with ample amenities.
Features and Amenities for Students
The planned living community is designed to cater to the needs and preferences of modern students. It will include structured parking and a range of amenities aimed at enhancing the student experience. Among these are a full-scale gym, resort-style pool, golf simulator, and study lounges, ensuring that residents have access to both leisure and study spaces.
Excitement from Leadership on Expansion
Casey Chayet, Vice President of Acquisitions at GTIS, shared his enthusiasm regarding the expansion of their collaboration with RISE. He noted, "We are excited to expand our partnership with RISE and further strengthen our presence at SEC schools. Our previous successful development, Ivy & Elm at Ole Miss, serves as a model for this new venture, enabling us to create a premier student housing experience that we believe will cater to the growing student community for years to come.“
Commitment to Quality Housing
Echoing Chayet's sentiments, Ryan Holmes, CEO of RISE, expressed his dedication to delivering high-quality and contemporary housing solutions. He stated, "Partnering with GTIS again reinforces our shared commitment to providing housing where it's needed most. With RISE Auburn, we aim to craft thoughtfully designed spaces that enhance the student living experience in meaningful ways."
Project Timeline and Future Outlook
The anticipated delivery timeline for this project is set before the academic year 2028-2029. This timeframe not only underscores the urgency of addressing student housing needs but also positions both companies for sustained involvement in the education sector's real estate market.
About GTIS Partners
Founded in 2005, GTIS Partners stands as a prominent global real estate investment firm headquartered in New York. It manages approximately $4.7 billion in gross assets and operates in various sectors including residential, industrial, office, and hospitality. The company has established a strong presence in diverse markets across the Americas and is recognized for its strategic focus on growth areas.
About RISE: A Real Estate Company
Established in 1995, RISE specializes in student housing as well as multifamily and mixed-use developments. With over 104 projects completed nationwide, RISE has successfully developed more than 61,000 beds across numerous states, continuing to impact the student living landscape. Their approach emphasizes innovation and community focus, shaping developments that resonate with students' needs.
Media Contacts
For further information, please contact:
Mary Beth Grover / Keely Gispan
ASC Advisors
(203) 992-1230
Email: mbgrover@ascadvisors.com / kgispan@ascadvisors.com
Frequently Asked Questions
What is the focus of the new student housing project?
The project aims to provide modern student housing equipped with various amenities to enhance the living experience for Auburn University students.
When is the expected completion date for the project?
The project is set to be completed before the 2028-2029 academic year.
What are some features of the student housing community?
The community will feature structured parking, a full gym, a pool, a golf simulator, and study lounges.
Who are the key players in this joint venture?
GTIS Partners LP and RISE are the primary organizations collaborating on this student housing venture.
How does this project align with the demand for student housing?
This project addresses the rising demand for housing, particularly in light of increasing enrollment at Auburn University.
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