At NMHC’s first-ever Student Housing DealTank, dealmakers were given the opportunity to present their student housing projects to a panel of decision makers within the student housing sector where they sought debt, equity or a buyer for their deal. This session served as a platform for deal exposure not only to the judges on stage but to an audience of hundreds of student housing professionals. Coming from all across the country, with a variety of backgrounds and deals on hand, four dealmakers were chosen to participate in the session:
- Jamie Swick representing owners from the Alan Group entered DealTank with a student housing opportunity located within one-fifth of a mile from Eastern Michigan University (18,000 enrollment) in Ypsilanti, Michigan. The property is expected to deliver in August of 2017 and is comprised of 682 beds.
- Eteri Zaslavsky of Next Realty, LLC pitched an opportunity to build a student focused high-rise in Honolulu, Hawaii to cater to students Hawaii Pacific University. The parcel is located within one-fifth of a mile from the university and the 408-bed building is expected to deliver in August of 2017.
- Bruce Johnson of Texas Student Living pitched an opportunity to partner in or purchase a student housing deal in Tyler, Texas. This 410-bed project caters to college students coming from University of Texas at Tyler, Tyler Junior College and Texas College all located within Tyler. This project is located within 0.8 miles from UT - Tyler and is expected to deliver within August of 2016.
- Larry Gough and Chase Sorrick of Investment Property Advisors, LLC entered DealTank with an opportunity to build a mixed-use student housing property in downtown Indianapolis, Indiana. The property is located within a quarter mile of Indiana University - PUI which has an enrollment of 30,000 students. With phase one (397 beds) already complete, the presenters were looking for a partner to complete phase two (384 beds) which is expected to deliver in August 2017.
Similar to the format of ABC’s popular television show, Shark Tank, presenters started their pitch by briefly explaining the asset and opportunity available and what they’re looking for in return. Not unlike ABC’s hit show, the panel of industry judges for DealTank were sharp and to the point when digging into the presenters for more information and were quickly “out” of a deal if it didn’t make sense to them. Two out of the four deals had judges commit to learn more about the project while the others gained valuable audience exposure and contacts from the session that could help facilitate their deal becoming a reality down the line.
Stay tuned to learn how these deals faired and hear from new dealmakers at next year’s NMHC Student Housing Conference in New Orleans, LA.