The Preiss Co. (TPCO) has announced the acquisition of the 928-bed Valentine Commons in North Carolina for an undisclosed amount. The off-campus student apartment complex will undergo a $10 million renovation to further upgrade certain public and private spaces.
“Valentine Commons is an ideal addition to the Preiss portfolio," said John Preiss, president of TPCO. "This iconic asset is centrally located to a plethora of schools and attractions. The NC State market has been one of the top performing markets in our portfolio, and we believe the upside potential in Valentine Commons is huge. Boasting the largest capex plan in the company’s history, we plan to build out new amenities, including a pool and rooftop terrace, as well as interior upgrades.”
Located at 3009 M. E. Valentine Drive in Raleigh, N.C., the student apartment complex serves multiple North Carolina institutions of higher learning, including North Carolina State University, Meredith University, Campb