**Newmark Brokers Largest U.S. Student Housing Sale of 2024**
Newmark has arranged the sale of a five-property student housing portfolio consisting of 1,248 units and 3,693 beds, spanning across Florida, Texas, Indiana, and North Carolina. While financial terms of the deal were not disclosed, Newmark confirmed the transaction as the largest student housing portfolio sale in the United States so far this year. The sale represents the largest single transaction to date for The Preiss Company (TPCO), which owned the portfolio in a joint venture with global investment manager Nuveen.
The transaction was facilitated by a Newmark team led by Ryan Lang, Head of Student Housing, along with Managing Director Jack Brett and Director Ben Harkrider. The sale was supported by local Newmark advisors, and on the financing side, Co-Head of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Chris Kramer, Executive Managing Director Ben Roelke, and Senior Managing Director Peter Griesinger played key roles.
The properties in the portfolio are located near some of the nation’s largest universities, including the University of Florida, Texas State University, Indiana University, North Carolina State University, and The University of Texas at Austin. These institutions have an average enrollment of more than 47,000 students, highlighting the scale and strategic location of the assets involved.
“This record portfolio transaction reinforces the burgeoning demand for premium student housing assets adjacent to prestigious universities,” said Ryan Lang. “As enrollment numbers continue to rise and campuses expand, investors are seeking more opportunities in well-located, high-quality student housing—a resilient and attractive asset class.”
TPCO described the transaction as a recapitalization. John Revington, Executive Vice President of Investments at TPCO, stated, “The recap not only reinforces our national presence but also allows us to implement cutting-edge enhancements that will add value to the properties while improving the resident experience.”
This landmark deal underscores the continued investor interest in the student housing sector, which has remained robust amid broader market uncertainty.
