Preiss Returns to Charlotte Market Managing 569 Beds at UNC Charlotte Communities
Preiss, a national student housing and multifamily owner, developer, and operator, announced it has been awarded property management of The Mill and The Union, two student housing communities near the University of North Carolina at Charlotte.
The company secured the management contract following the acquisition of both assets by New York-based Triangle Capital Group. According to the release, the agreement marks Preiss’ strategic re-entry into the Charlotte market, expanding its managed portfolio by 569 beds across 230 units.
The Mill is located just east of UNC Charlotte and features 386 beds across 131 units in 2×2, 3×3, and 4×4 floor plans. The Union is located adjacent to campus and features 183 beds across 99 units in studio, 2×2, and 3×3 floor plans.
Ownership plans to invest approximately $5 million in capital improvements across both properties to modernize the communities and elevate the overall resident experience, according to the announcement.
Planned upgrades include a complete overhaul of both property clubhouses and amenity spaces, comprehensive interior unit renovations, integration of smart home technology, resolution of deferred maintenance items, and full brand transformations for both communities.
Mike Kivitz, Director of Strategic Partnerships at Preiss, stated, “We’re thrilled to be back in the thriving Charlotte student housing market with these two standout communities. Our immediate priority is enhancing the daily living experience for our residents, while working hand-in-hand with Triangle Capital Group to execute their long-term vision for both properties.”