Colliers Launches National Student Housing Group
Company jump-starts initiative by hiring two of the nation's top student housing real estate pros
SEATTLE and CLEARWATER, Fla., Jan. 10, 2012 /PRNewswire-USNewswire/ -- Colliers International today announced the launch of its National Student Housing Group, and the hiring of two of the nation's top student housing real estate brokerage professionals, Dorothy Joffe Jackman and Travis Prince.
Jackman and Prince have a long track record as one of the top-performing teams in the country in student housing brokerage sales. Jackman, who transitioned to brokerage nine years ago after a six-year career in student housing management, has closed over $540 million of sales and won a number of industry awards, including designation as a "Woman of Influence" by Real Estate Forum. Prince has handled over $500 million worth of student housing and multifamily assignments.
"Colliers' wide range of services and capabilities will be a great fit for our work," Prince said. "We look forward to finding high-quality opportunities for buyers, while helping sellers by leveraging our deep database of knowledge and contacts with Colliers' global access to investment capital."
Based in Clearwater, Fla., Jackman and Prince have been named managing directors of Colliers' Student Housing Group, and will serve Colliers clients nationwide. "The changes in student housing real estate in recent years—demand for new amenities, changes to campus footprints and residence strategies, scarcity of public funding—all call for more specialized expertise," said Dwight Hotchkiss, Executive Managing Director of Client Services for Colliers International. "Prince and Jackman are proven leaders in this sector, whose innovation, creativity and leadership immediately place this national group on the cutting edge."
Student housing has been one of the bright spots in the commercial real estate market—total annual sales in this niche have been estimated to be much as $2.5 billion, as demand continues for newer facilities that better fit the needs of today's students.
"Purpose-built student housing has become much more sophisticated having to meet the needs of universities and students alike," Jackman said. "Amenities packages continue to be a focus for students, and developers are delivering state-of-the-art fitness centers, swimming pools, Jacuzzis, tanning beds, media rooms and, in some cases, concierge services. The Class 'A' student property of today delivers those amenities one used to associate only with Five Star hotels."
This niche requires market knowledge and student housing experience for success, because each local market is different. Experienced real estate brokers like Jackman and Prince consider many factors as they study a market, such as school enrollment trends and the local competitive landscape.
Colliers will be actively recruiting real estate professionals to join the student housing practice, building on the collective experience of Jackman and Prince to quickly become a major player in this industry.
"Student housing has grown in scale and sophistication to become an asset class in its own right," said Warren Dahlstrom, President of Colliers' Investment Services Group in the U.S. "Investors have responded to the sector's unique benefits and resilience, year-in and year-out. It's a definite global trend, as evidenced by the billion-dollar portfolio transactions breaking out in Europe recently."
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world with 15,000 professionals operating out of more than 512 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most-recognized commercial real estate brand in the world.
SOURCE Colliers International