Letter 9 Announces Partnerships with Car Share and Bike Share Programs Across Five Student Housing Properties

Convenience of on-site, on-demand bikes and cars to serve residents with alternative means of transportation

Aug 11, 2015, 09:12 ET from Candlebrook Properties

NEW YORK, Aug. 11, 2015 /PRNewswire/ -- Letter 9 announced today two new partnerships that will make transportation simple and easy for all of their residents. Zipcar, the world's leading car sharing network, will offer two cars parked on each property that can be reserved by the hour or day, making it effortless to get downtown or around campus, do errands or even take a road trip. Zagster, the leading provider of bike sharing programs for the real estate industry will provide transportation perfect for student's active and healthy lifestyle.

The multi-property deal includes a total of 40 cruiser-style bikes and ten cars that will be available to residents of all five of Letter 9's student housing properties: The Blake (at Kennesaw State University outside of Atlanta, Georgia), The Dillon (at Indiana University in Bloomington), The James (at Virginia Commonwealth University in Richmond), The Tyler (at IUPUI in Indianapolis), and The Wyatt (at University of Kentucky in Lexington). These partnerships join other Letter 9 amenities and perks, including clubhouses with pools and state of the art fitness centers, study lounges, shuttle busses and several other additions expected to be announced in the coming months.

"Today's students value the ease of communal access over the often burdensome and expensive proposition of individual ownership, from streaming music on their phones to hailing rides from an app," said Adam Zucker, Vice President, Development at Candlebrook, the developer behind the Letter 9 student housing brand. "Having Zagster bikes and Zipcar cars on our properties provide our student residents immediate access to fun and convenient transportation in a manner that fits their lifestyle."

Zipcar is a smart transportation option for students and residents who need a car by the hour or by the day. Each of the five residences will have two Zipcars on property for easy pick-up and drop off.  Prospective Zipcar members can join for $25, with rates for vehicles starting as low as $7.50/hour and $69/day. Gas, insurance, and up to 180 miles of driving per day are included in Zipcar rates.

"Zipcar is pleased to be able to offer Letter 9 residents Zipcar car sharing to meet their transportation needs," said Zipcar Chicago General Manager, Charles Stephens. "From driving to and from activities on campus, to using Zipcars for errands, job interviews, excursions into the city, or weekend trips away, Zipcar provides a convenient and cost effective transportation option for every need."

Zipcars are available for reservation on-demand via the Zipcar mobile app, online at www.zipcar.com or by phone and can be easily accessed 24 hours a day, seven days a week. A Zipcar membership also includes access to all of Zipcar's of 10,000 vehicles in over 470 cities and towns across the globe. Zipcar is located across the United States and internationally including in Austria, Canada, France, Spain, Turkey, and the United Kingdom. Zipcar is presently located at college campus across the United States and Canada.  Its partnership with Letter 9 will bring the first Zipcar location to the University of Kentucky.

All Zagster bikes will be available to residents free of charge for up to a 4-hour period, and $5 per hour thereafter.  "Bike sharing is the perfect amenity for student housing," said Timothy Ericson, co-founder and CEO of Zagster. "Students enjoy riding bikes, but storing and maintaining them can be a hassle. With Zagster, they can swipe and go – to class, local retailers, exercise or hanging out with friends."

To use Zagster's mobile app, riders simply enter the unique ID of the bike they wish to use and an access code for the lock box, which is mounted on the rear of the bike and contains the key to the bike lock, is provided. Alternatively, they can text the bike ID and receive the code in return. Residents of Letter 9 properties can use the code throughout the duration of their rental to lock and unlock the bike anywhere along their trip. Once the bike is returned to the initial Zagster location on property, the touch of a button ends the rental and releases the bike for the next rider.

About Zipcar
Zipcar, the world's leading car sharing network, has operations in urban areas and college campuses throughout Austria, Canada, France, Spain, Turkey, the United Kingdom and the United States. Zipcar offers more than 50 makes and models of self-service vehicles by the hour or day to residents and businesses looking for smart, simple and convenient solutions to their urban and campus transportation needs. Zipcar is a subsidiary of Avis Budget Group, Inc., a global leader in vehicle rental services. More information is available at www.zipcar.com.

About Zagster
Founded in Philadelphia in 2007 as CityRyde and now headquartered in Cambridge, Mass., Zagster is one of the nation's first bike sharing companies. Zagster is uniquely focused on contracting with property managers, hotels, businesses, and universities across North America to make bike sharing programs available to tenants, employees, guests and students. This highly efficient and unique model allows Zagster to offer services in areas that traditional city-wide bike sharing systems can't reach. More information about Zagster is available online at http://www.Zagster.com.

About Letter 9
Letter 9 is an emerging leader in modernizing the student housing market.  Its properties offer high quality accommodations and amenities for the most discerning of students.  The Letter 9 brand, moreover, includes hands-on management, an action packed events calendar and overall lifestyle all designed to be fun and edifying:  promoting collaboration, embracing the best and latest in culture and accelerating the larger college experience.  Letter 9 was created in the fourth quarter of 2014 by real estate developer and operator, Candlebrook Properties. It launched initially at five universities housing over 3,400 residents and has active plans for expansion in 2015.

About Candlebrook Properties
Candlebrook was founded in 2005, and launched its business focusing on the acquisition and repositioning of distressed apartment properties in the New York City area. This business later expanded to the suburban New Jersey markets and Philadelphia, and to date, our portfolio has comprised over 15,000 apartment units representing over $2 billion in value. Its investment strategy is to identify underperforming assets with untapped intrinsic value that can be realized through the implementation of a hands-on approach to management and execution by its vertically-integrated platform. Candlebrook's team now consists of nearly 150 dedicated professionals, operating across the Midwest and East Coast.

Media contact:
Zagster
John Williams, Scoville PR for Zagster
206-625-0075
jwilliams@scovillepr.com

Zipcar
Lindsay Wester
Public Relations Manager, Zipcar
617.336.4749
lwester@zipcar.com

Letter 9 and Candlebrook Properties
Danielle Imbriano, London Misher Public Relations
212-759-2800
Danielle@londonmisherpr.com

SOURCE Candlebrook Properties



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