Campus Advantage Highlights 2011 Accomplishments
AUSTIN, Texas, Dec. 21, 2011 /PRNewswire/ -- Campus Advantage, a leading student housing company, highlights 2011 accomplishments and looks forward to 2012.
"Campus Advantage had a solid list of accomplishments for 2011," said Mike Peter , President and CEO of Campus Advantage (CA). "Marketing, operations and consulting produced record results, while our acquisition team met their targets by purchasing more than $70 million worth of Class A purpose-built student housing."
- For the 2011-2012 leasing season, CA set a new industry milestone upon achieving a 45 percent returning resident ratio, while securing significant rental rate increases for its clients. Companywide, CA's occupancy reached more than 97 percent, with 17 of its properties reporting 99 percent or greater occupancy.
- The Campus Advantage Residence Life program held over 6,000 events with an attendance of more than 125,000. Based on resident surveys, the Company's "Students First" program had a direct impact on resident retention, saving its clients an average of $380 per bed on marketing, leasing and turn costs that would have been spent replacing unsatisfied residents.
- CA Consulting also enjoyed record results, as more investors seek out their services. In 2011, the group performed market studies and programmatic consulting on 20 projects with a projected combined market value of more than $600 million.
- Campus Advantage opened five new development projects for its clients with an average occupancy of 97 percent.
- For 2011, CA added more than 2,600 beds to its managed portfolio of student housing properties. Scott Duckett , Chief Business Development Officer for Campus Advantage stated, "Today, we operate nearly 30,000 beds at 48 communities in 21 states."
- CA closed a $100 million joint venture equity program with one of the nation's largest pension funds.
- Partnering with Property Solutions, the Company launched true online leasing with digital signatures. "This service provides ease-of-use to residents and guarantors, while further advancing the student housing industry," said Mark Hager , Campus Advantage's Chief Operating Officer.
- The National Apartment Association announced that it has selected Dan Oltersdorf , Vice President of Residence Life for Campus Advantage, to serve as the vice-Chair of its Student Housing Committee for 2012.
"Our nearly 700 employees worked hard to build a strong foundation this year, and with the continued demand for student housing and improving credit markets, we anticipate even better results in 2012," said Peter.
About Campus Advantage
Campus Advantage (CA) is an Austin-based real estate firm that offers higher education management, development, acquisition and consulting services. The Company works to create winning partnerships between colleges, universities, investors, developers and owners in an effort to help students achieve their academic and personal goals. Campus Advantage is committed to providing innovative and customized solutions for premier student housing communities. For additional information, please visit http://www.campusadv.com.
SOURCE Campus Advantage
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