GMH Communities and AEW Capital Management Acquire Prime Student Housing Near Top Universities
The multifamily apartment industry continues to evolve with strategic acquisitions that align with the contemporary needs of university students. GMH Communities, renowned for pioneering innovations in student housing, along with AEW Capital Management, with its substantial portfolio underpinned by sound investment strategies, have recently amplified their market presence with the acquisition of two student housing communities — Dockside at Clemson University and Flatiron at Louisiana State University.
Situated in proximity to their corresponding campuses, these properties are not simply about location; they are about delivering a living experience that accords with modern student expectations. The Class-A amenities they feature stand as a testament to the discerning standards students now hold for off-campus housing. Through the acquisition of Dockside, soon to be rebranded as The Cove at Clemson, and Flatiron, students will now have the opportunity to thrive in premier living conditions that facilitate not just academic success, but social engagement as well — factors that are increasingly recognized as essential for a comprehensive university experience.
The choice of Dockside and Flatiron by GMH and AEW aligns with their commitment to fostering communities within strong educational markets. In the eloquent words of Gary Holloway Jr., CEO and President of GMH Communities, “For 40+ years, GMH has been a leader and innovator in the student housing industry. We stay ahead of trends in the industry and understand what students seek in a community. The acquisition of Dockside and Flatiron underscores GMH’s commitment to investing in high-quality, well-located assets within fundamentally strong markets.”
AEW is equally invested in the longevity and success of these housing markets, as Adam Schwank, portfolio manager and managing director, shares, “AEW is thrilled to expand its student housing portfolio in partnership GMH. Dockside and Flatiron exemplify the attributes we seek in high-performing student housing assets: modern construction, generous common area spaces for students, and prime locations adjacent to growing Power 4 universities.”
The drive to offer students an environment that encourages academic excellence and personal growth is further buoyed by the current trends — a growing demand for off-campus housing propelled by increasing university enrollments. Both GMH and AEW are positioned to respond to these trends innovatively, ensuring that their properties not only meet but exceed the expectations set by today’s collegiate population. This move symbolizes more than just a business acquisition; it reflects an acute understanding of the higher education terrain and the student accommodations sector’s dynamic future.