Monument Real Estate Services, one of the country’s most skilled asset and property managers, announced today the launch of its student housing division with the acquisition of the firm’s first student housing management assignment – The Vault at Statesboro in Statesboro, Georgia.
Formerly known as Campus Evolution Villages, the 528-bed, four-story student living community initiates Monument Real Estate Services’ student housing division, which will focus on catering to student needs in housing in these niche properties throughout several markets nationwide.
Monument’s student housing division will meet the rapidly increasing demand in the sector, as enrollment in postsecondary institutions is expected to increase 14 percent to 23 million by 2024, according to the National Center for Educational Statistics. Coupled with Generation Z entering college-age years, demand for student housing is expected to remain robust.
“We are very pleased to further our offerings with the launch of our student housing division, and The Vault at Statesboro is an excellent property to diversify Monument’s portfolio,” said Jaime Rauscher, COO of Monument Real Estate Services. “The decision to expand into this burgeoning real estate sector was very clear due to the increasing demand of all housing types surrounding higher education institutions. We look forward to serving this demand with an excellent team of in-house professionals equipped to address the unique needs of the sector.”
Located at 1699 Statesboro Place Circle, The Vault at Statesboro is comprised of fully furnished four-bedroom units with private balconies. Additional features include chef-inspired kitchens, in-home laundry and cable/satellite.
As part of the firm’s comprehensive management services, a number of interior and exterior upgrades will be implemented to enhance the property’s features, including new appliances and furniture, as well as a private study area and fitness center with virtual on demand classes. A pool deck with fire pit, built-in grills, cabanas and hammocks will also be added.
The Vault at Statesboro also features free Wi-Fi, a clubhouse, various tennis courts, swimming pool, game room and stand-up tanning bed. Conveniently situated near Veterans Memorial Parkway, The Vault at Statesboro is a few minutes from downtown Statesboro, and is a short walk from Georgia Southern University.
“This new management assignment will enhance Monument’s scope of services with a dynamic property in a strategic location,” said Lisa Davis, regional manager for MRES. “We look forward to expanding the student housing division with additional communities within the next year.”
About Monument Real Estate Services
Monument Real Estate Services (MRES) is an asset manager, property manager and value-add specialist that directs a full suite of services in the strongest multifamily markets nationwide. MRES manages a portfolio of more than 14,000 units in markets throughout the Southwest, Southeast, Midwest and Mid-Atlantic regions of the U.S. MRES provides guidance to institutional and individual investors in the acquisition, financing, and property management of income producing properties. With a foundation of institutional quality reporting, coupled with the hands-on style of an owner’s mindset, the company’s integrated approach is flexible and adaptable to both class A properties and properties requiring significant re-positioning. MRES is part of the Monument family of companies and is based in Miami.
About Monument Capital Management
Monument Capital Management (MCM) executes transactions on behalf of the three investment funds it directs, as well as acquisitions on behalf of a select number of private investors. Under its first two funds, MCM has more than $325 million of assets under management in multifamily properties Southwest, Southeast, Midwest and Mid-Atlantic regions of the U.S. Currently, the firm is deploying capital from its third fund and will target markets with a strong demand for workforce housing. MCM’s investment objective is to strategically identify assets in markets with attractive demographics at a deal size where competition is limited and its exceptional management team can add immediate operational value via its proven investment management model.