AUSTIN, Texas, June 16 /PRNewswire/ -- Campus Advantage executive Scott Duckett was a panelist this morning on the InterFace Student Housing Conference in Chicago, Ill.
The panel, titled "Who's Buying and Building to Lease-Up and Changes On-Campus—A Mid-Year Status Update on the Student Housing Industry", focused on the trends in student housing.
The panel was moderated by Dorothy Jackman, Vice President Investments and Senior Director of National Multi Housing Group with Marcus & Millichap. Other student housing experts included: Miles Orth, Executive Vice President and Chief Operating Officer for Campus Apartments; Scott Duckett, Senior Vice President of Campus Advantage; Brian Thompson, Vice President of Harrison Street Real Estate Capital; and Peter Stelian, Managing Principal with Blue Vista Capital Management.
Campus Advantage's Scott Duckett highlighted several key issues during the panel discussion:
- Portfolio lease-ups are ahead of expectations year-over-year
- 15%, or 3,500 beds, ahead of last year
- Seeing rapid lease-up in several markets
- Conventional and purpose-built leasing at same velocity
- Can students return to school due to financial issues?
- No longer offering opt-out provision for financial issues
- Second- and third-tier schools still experiencing some softness
- Market strengthening for mid- to high-end communities
- Increased demand for market analysis, rising to pre-recession levels
- Debt is available again, financial institutions looking for liquid assets to back debt
- More focus on product than ever before
- Cap rates vary widely depending on product type and market
"It was an honor to be a panelist at the 2010 InterFace Student Housing Conference," said Scott Duckett. "While the industry is rebounding from last year and poised for solid growth in the coming years, I caution developers on overly aggressive rental rate assumptions."
About Campus Advantage
Campus Advantage (CA) is an Austin-based real estate firm that offers management, development, acquisition and consulting services for student housing. The Company currently manages more than 30,000 beds, at 52 locations in 21 states nationwide. Campus Advantage works to create winning partnerships between colleges, universities, investors, developers and owners in an effort to help students achieve their academic and personal goals. With more than 900 employees, Campus Advantage is committed to providing innovative and customized solutions for premier student housing communities. For additional information, visit http://www.campusadv.com.
SOURCE Campus Advantage