The Preiss Company (TPCO), a student housing owner-operator, has recently acquired and rebranded Elevate 231 as The Collective at Columbia. This property, located in Columbia, MO and currently fully occupied, offers 318 units with a total of 972 beds for students attending the University of Missouri.
According to TPCO’s COO Adam Byrley, The Collective at Columbia is an excellent option for student living due to its top-notch amenities and well-designed living spaces that foster a strong sense of community and enhance the overall college experience.
In order to further elevate the property’s appeal, TPCO plans on launching a comprehensive interior renovation project for approximately half of the units. These upgrades will include new cabinets, countertops, lighting fixtures,and flooring as well as modern furniture packages. Additionally,the installation of key fob entry systems and smart thermostats will bring cutting-edge technology into each unit.
To finance this transaction through a life company,TCPA worked with Newmark’s Ben Roelkeand Ian Walker who arranged full-term interest-only financing.
