The Preiss Co. and a private equity real estate fund advised by Crow Holdings Capital have acquired the 600-bed student housing complex Aspen Heights for an undisclosed amount. Serving Auburn University, the property has been rebranded The Collective at Auburn and is undergoing major upgrades.
“We continue to seek quality assets located in close proximity to major colleges and universities that can benefit from material improvements and our proprietary management and marketing systems,” said John Preiss, TPCO CIO. “The ‘new’ Collective at Auburn is an ideal addition to our nationwide portfolio of student housing complexes as we further target Tier 1 schools in a Power 5 conference.”
TPCO plans to invest a significant amount of capital to improve The Collective at Auburn. The upgrade program will emphasize a complete redesign of the clubhouse and amenity areas to improve the functionality of the space for today’s college student. Other improvements include
