“In-Fill Development Has Become the Product of Choice” | Checking in on the Student Housing Industry with the Preiss Company’s Susan Folckemer
CAPRE: Thanks for chatting with us today. When and why did you get into the student housing space? Folckemer: I joined The Preiss Company in 2003. My background prior was in development, asset mgmt and investment sales of office, retail and industrial space in the Mid-Atlantic. I met Donna Preiss and fell in love with the Student Housing concept and the company in which she had established in 1987. CAPRE: How has the industry -- and product -- changed since you entered the arena? Folckemer: The industry has definitely matured and found its place amongst the varied asset classes. One of the biggest changes I’ve seen has to do with transparency and quality of information, which has provided a map for responsible growth. There was a core group of leaders in the earlier years that provided sound guidance and impacted the industry in a positive manner. The industry also attracted some really smart and bold developers that challenged us with efficiency and innovation, keeping us competitive with the multi-family industry design and construction. There’s obviously been a lot of interesting product concepts and changes over the last 17 years. One that stands out is the influence of the in-fill product that became the development of choice after the Great Recession. It provided the largest overall impact that propelled us into the institutional marketplace. CAPRE: And how do you define in-fill product? Folckemer: It’s different in different markets, but generally the…
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