The Dumes | Teets | Mullowney Group of Marcus & Millichap

We’re excited to announce the closing of Lexington Crossing in Gainesville, Florida! This sale showcases the increasing demand for quality student housing from newer investors in the sector and represents an exciting opportunity for everyone involved. The property offers significant value-add opportunities, and we look forward to seeing the new owners implement their business plan. Thank you to the Priderock Capital Partners team for their hard work and to The Collier Companies for placing your trust in us throughout this transaction. The Collier Companies, Nathan S. Collier, Jennifer Clince, Angela N. Tharpe, Michael Rosenblatt, Tim Blakemore, Paul Richards, Jason Puckett, PRIDEROCK CAPITAL PARTNERS, LLC, PRIDEROCK CAPITAL MANAGEMENT, LLC, David Khoury, Daniel Ng, Sal A., Barbara Gaziano, Andrea Aboulhosn. Joel Dumes, Lauren Bounsall, Jacob Westgerdes, Jacob Bobo. #StudentHousing #GoGators

Relaxing student housing availability has increased interest in shadow market properties across U.S. universities. Shadow markets are most commonly defined as conventional apartment units within three miles of a college campus. In other words, apartments near a university that is not purpose-built student housing. With availability of near campus housing higher in Fall 2024, we could see an increase in interest show to shadow markets than in prior years. The Dumes | Teets | Mullowney Group of Marcus & Millichap #wisdomwednesday #studenthousing #CRE

Multi-Housing News shares a recap of NMHC's student housing conference. - Investors are finding new ways to finance deals in order to get deals done. - Many traditional investors are still on the sidelines, but with interest rates coming down, this will change soon. - Developers are still seeing a lot of construction delays, but student housing's strong rent growth has cushioned this challenge. - Architects are working to keep projects affordable while adapting to the needs of students. If you're interested in reading our team's recap of the conference, check out our quarterly report. #studenthousing #student #multifamily #apartments #cre #commercialrealestate #realestate #college #university #investorinsight #investment #investmentproperty #dtmgroupcre 

Last week, we finalized the closing of Garden Village in Berkeley, CA. This milestone is a true testament to the remarkable perseverance of both the Buyer and Seller teams (us brokers too). It’s incredibly rewarding to see everyone’s hard work pay off, and we're thrilled for everyone involved. Thank you to the Hawkins Way team for their relentless dedication and to Randy Miller with R2 Building for placing your trust in us throughout this transaction. R2 Building, Hawkins Way Capital, LLC,Randy Miller, PE,Carol Enoch, Julian Rude, Andrew Olsen, Joshua Bird, Joel Dumes, Jacob Bobo, Lauren Bounsall, Jacob Westgerdes

One of the key differences between traditional multifamily properties and student housing is that student housing is typically fully furnished. But what kind of furniture do students want? Multi-functional and durable furniture will always remain important to both students and property owners/developers, but the look, feel, and style of the furniture students desire is constantly changing. Thanks to social media, students are becoming more sophisticated with their design style. Right now, this means neutral colors with natural and earthy tones, furniture that offers an open concept, and modular or space saving furniture. The Dumes | Teets | Mullowney Group of Marcus & Millichap #dtmgroupcre #wisdomwednesday #cre #studenthousing 

Joel Dumes and Patrick Mullowney share their thoughts on the state of the student housing industry after returning from NMHC's student housing conference last week and wrapping up the 2024-25 pre-leasing cycle. #studenthousing #student #multifamily #apartments #cre #commercialrealestate #realestate #college #university #investorinsight #investment #investmentproperty #dtmgroupcre #quarterlyreport

The Wall Street Journal recently released their rankings for the best colleges in the nation. Princeton, Babson and Stanford won the top three spots. When talking about universities' rankings, it is important to look at multiple sources, especially if these rankings are playing a part in determining which markets you invest in. Our team keeps up with rankings from U.S. News & World Report, WSJ, Forbes, and Niche, and we dive deeper into the rankings of each university we do business in. #studenthousing #student #multifamily #apartments #cre #commercialrealestate #realestate #college #university #investorinsight #investment #investmentproperty #dtmgroupcre 

With the holiday season approaching, shoppers are expected to spend 31.7% more on gifts, food, décor and experiences than they did in the previous year. The average shopper is expected to spend $1,261, about $300 more than last year. This increase is due to easing economic constraints that have affected shoppers in past years. Shoppers are also expected to spend 56% more on holiday experiences and shows than they have in the past. Social media marketing has played a role in this increase as well, with more than 80% of consumers saying they will use Facebook, Instagram and TikTok to help them shop. The Dumes | Teets | Mullowney Group of Marcus & Millichap #wisdomwednesday #studenthousing #CRE

The pre-leasing season for the 2024-25 school year has officially wrapped up. At Yardi 200 schools, the pre-lease rate reached 92.9% in August, 20 basis points above August 2023. This season saw exceptionally strong growth at the beginning and tapered off in the spring, sometimes dropping below 2023 numbers. A handful of universities were over 99% pre-leased at the end of August, including Oklahoma State, Ohio, Oregon State, VCU, Auburn and Illinois State. If you're interested in learning more about how this pre-leasing season wrapped up, keep an eye out for our quarterly report next week. #studenthousing #student #multifamily #apartments #cre #commercialrealestate #realestate #college #university #investorinsight #investment #investmentproperty #dtmgroupcre 

Which college towns does Thrillist deem the best? Sports, traditions, food, and surroundings make a city stand out as an exceptional college town. Thrillist included bigger cities and smaller cities, some that might not be considered a traditional college town. Which college towns do you think they missed? The Dumes | Teets | Mullowney Group of Marcus & Millichap #dtmgroupcre #wisdomwednesday #cre #studenthousing