Officials of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, in a joint venture with TH Real Estate (THRE), an affiliate of Nuveen, the investment management arm of TIAA, one of the world’s largest real estate investment managers, today announced the acquisition of the 464-bed student housing complex, Signature 1909. Read more about the sale here.
This construction project was delivered on time and within budget in August of 2018. The project was 100% leased up upon delivery and sold to another leading US student housing operator within 1 month of receiving its Certificate of Occupancy. Its financial and operating performance were tracking above plan at the time of sale.