Austin-based Endeavor Real Estate Group has a new student housing platform, enlisting former American Campus Communities exec Jake Newman to lead the new business unit.
During his 21-year tenure with ACC, the nation’s largest student housing company, Newman was involved with developing more than 40,000 beds with a value of more than $4 billion.
“Given the strong macro fundamentals of the sector, we look forward to deploying our expertise and capital into student housing, which we believe offers yet another diversified investment option to our investors," said Endeavor managing principal Jamil Alam.
Enrollment growth coupled with a lack of new housing supply at many colleges, Alam noted, has spurred the market’s interest in driving more investment in the sector.
Following its development of the Lyndon at Springtown, a 233-unit, 515-bed student housing complex at Texas State University in San Marcos. Endeavor was selected by Texas Christian University to enter a pre-development partnership for a mixed-use development on the southern edge of campus. The university issued a request for qualifications for a private partner last summer.
Newman said Endeavor is pursuing on- and off-campus opportunities, adding that the company can offer more than student housing for colleges and universities looking for fully integrated, mixed-use development that can provide retail, office, and other real estate expertise.
