For the student housing sector, the decline of campus enrollment, overdevelopment and pull back from capital sources continue to harm the market.
Co-Founder and CEO, Ari Rosenblum, sat down with
Units Magazine to discuss the markets that are struggling with
occupancy rates, as well as the markets that continue to thrive
despite the obstacles in the industry.
Renovations of the property included newly renovated floor plans including one and two-bedroom options, which come with new kitchen countertops, cabinets and matte appliances, as well as faux-wood flooring and much more.
Amherst Bee shared more about the renovations and future plans for Colonie Apartments in an online article and print edition.
In a market where student housing deals are getting harder and harder to make, buying and repositioning a six-property portfolio wasn't the only big win for Vie, explained Ari. It was really how using international investors played a huge role in funding the deal.
Ari took a deep dive into what it takes to secure this type of funding. "If they can pull this off, it can open up large sources of funding," he told reporter Les Shaver.
Student Housing Business: Creating Value
Vie Management prides its self in being one of the original players in the "value-add" space and still has a strict definition of value-add as part of our core philosophy. With nearly 20 years in the business, Vie currently owns and manages 6,000 beds and has had as many 50,000 beds in our portfolio in our history.
Sitting down with editors Randy Shearin and Richard Kelley, Ari and Derrick talked about where Vie is headed and gave their thoughts on the crowded "value-add" space.
"Our thoughts and prayers go out to all of those affected by Hurricane Dorian," said Ari Rosenblum, Vie Management co-founder and CEO. "As we closely watched the projection of Hurricane Dorian and saw the destruction and devastation it left behind, we knew that we needed to help."
Yahoo! Finance shared more about how our individual communities rallied together to gather donations for those in need.