Student Housing Sector is Second Only to Industrial for Pandemic Performance
While secondary colleges are experiencing continued challenges with enrollment and occupancies, student housing acquisitions in secondary and tertiary markets are being dominated by local and regional buyers. These investors perceive good comparative value in those locations, according to Fred Pierce, president and CEO of Pierce Education Properties.
According to College House, fall 2021 student housing occupancy was up 4.14 percent from fall 2020, registering at almost 92 percent. Pierce recently weighed in on surprises in the performance of student housing properties and whether COVID is still weighing down occupancies and rents in any measurable way.
“The super majority of our properties have occupancies ranging from 99 percent to 100 percent occupancy. The show-up rate, the percent of pre-leases that move in, for our portfolio exceeded 99.5 percent and fall collections have exceeded 99 percent,” he says. “By most all metrics, the student housing sector has been second to only Industrial in terms of performance during the pandemic.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.