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Preiss Acquires, Rebrands Housing Serving U. of Missouri
Student housing owner-operator The Preiss Company (TPCO) has acquired and rebranded Elevate 231, now known as The Collective at Columbia. Terms were not disclosed. Located in Columbia, MO, the 100% occupied property serves students attending the University of Missouri and features 318 units with 972 beds.
TPCO COO Adam Byrley said, “The Collective at Columbia is a premier choice for student living, combining top-tier amenities, thoughtfully designed living spaces and a sense of community that enhances the overall college experience.”
To elevate the property further, TPCO plans to launch a comprehensive interior renovation initiative for approximately 50% of the units. Planned upgrades include the installation of new cabinets, countertops, lighting and flooring, along with modern furniture packages and smart home technology through the installation of key fob entry systems and smart thermostats.
The full-term, interest-only financing for the transaction through a life company was arranged by Newmark’s Ben Roelke and Ian Walker.
- ◦Sale/Acquisition
