CAPRE Exclusive | Student Housing Roundtable: What Do You Do When a University Adds Hundreds of Beds?

RALEIGH, NC — The first panel discussion at CAPRE’s inaugural Carolinas Student Housing Forum was a round-table titled “Carolinas Student Housing 360: Development, Investment & Leasing Activity in 2019.” To kick off the session, Moderator Brian Klebash, CEO and Founder of CAPRE, looked to his group of panelists and asked them to compare their current Carolinas portfolio performance to the rest of their portfolio. “The Carolinas are very strong. Overall our portfolio is about 92% leased for this upcoming year. we have one market, Buffalo, which is a little bit behind for this year, but here in the Carolinas, it’s all over 90%,” replied Jerry Wojenski, Chief Executive Officer at NDG Student Living. “Our strongest market, surprisingly, is our smallest market, Wake Forest University. We’re 100% leased for this upcoming year and we’re already 96% leased for the year after. Only seniors only live off campus there. This is just one of those market that we took a risk in, and we were surprised at the rewards there.” At that point, a member of the audience, impressed with Wojenski’s numbers, asked Wojenski for some more info – how many beds? “It’s about 265 beds, and we’re increasing it to 320. There’s no more room for growth, so please don’t develop there!” he chuckled in reply. “But it’s been a strong market for us, and it’s really the demographic of the students, the strong, Greek housing profile there. Fraternities and Sororities…