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Washington DC  + DC Metro  + Student Housing  | 
Rendering of student housing project at University of Maryland

Greystar Closes $140M for UMD Student-Housing Development

Greystar Real Estate Partners, LLC, has closed $140 million for a mixed-used student-housing development at the University of Maryland, College Park.

The UMD project is a public-private partnership with Terrapin Development Company, an entity comprised of UMD and the UMD Foundation.  It consists of 341 units, 788 beds, 22,000 square feet of retail and a multi-use outdoor common space. The 1.66-acre site sits on the research institution’s corner of Knox Road and Sterling Place.

The UMD transaction is one of three student-housing projects that Greystar closed for a total $600 million; the other developments are both at the University of Texas, Austin.

“We’re seeing an increase in demand for high-quality student housing and complex mixed-use P3 structures at top tier institutions in the U.S., and we’re thrilled at the opportunity to support the evolutions of these campuses,” said Julie Skolnicki, senior managing director of Greystar.

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Inside The Story

Greystar’s Skolnicki

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.