Versity Student Housing REIT rebrands as Crew Campus and Announces Acquisition of 297-bed Seed Asset Located near Baylor University
ALISO VIEJO, Calif., Feb. 14, 2024 /PRNewswire/ -- Today marks a significant milestone in the evolution of Versity Student Housing REIT, as we proudly unveil our new corporate identity and announce our first portfolio asset.
Versity Invest is proud to announce that it has officially begun rebranding to Crew Enterprises. With the launch of our first REIT, we elected to rebrand to underscore our evolving business model, our diversification into REIT offerings, and our commitment to providing best-in-class investor relations and asset management services.
In conjunction with our rebranding, we are happy to announce the acquisition of our first REIT asset, Oso Verde Apartments, located in Waco, TX near Baylor University. Jeff Daly, CEO of Crew Campus, Inc., emphasized, "This property aligns seamlessly with our long-term growth strategy: leveraging newer-vintage, purpose-built student housing assets adjacent to top universities. Oso Verde Apartments not only marks the launch of our pure-play student housing private REIT but also reinforces our position as key players in the student housing market."
Oso Verde was constructed in 2015 and consists of 103 units and 297 beds. The community offers multiple floor plans featuring great amenities such as 10-foot ceilings, vinyl wood flooring, granite countertops, walk-in closets, and private balconies.
Blake Wettengel, CEO of Crew Enterprises, further emphasized, "The acquisition of Oso Verde Apartments accomplishes two goals. First, it's great real estate, well-located near a top tier University, purchased at a great price and it should yield compelling returns. Second, it kicks off our REIT, providing investors with diversification in an ascendant asset class. With our newly developed institutional line of credit, we plan to aggressively pursue acquisition opportunities for the REIT this year, so we take this as the sound of a starter's pistol."
Tanya Muro, COO of Crew Enterprises, added, "As we embark on this next phase of our company's growth, we want to express our gratitude to our investors, partners, and employees who have been integral to our success. We are confident that Crew Campus will become synonymous with high-quality student housing properties located near top-tier universities. The launch of the REIT is the next logical step for our company."
Please visit our new website at CrewCampusREIT.com to explore our refreshed brand and learn more about our exciting developments.
About Crew Campus
Crew Campus is a pure-play student housing REIT dedicated to acquiring and actively managing a diversified portfolio of stabilized, income-oriented student housing properties located in the United States near the Top 200 Colleges (as ranked by U.S. News & World Report) with enrollments of over 15,000 students. Our primary investment objectives are to provide our stockholders with access to the student housing market. To preserve and protect invested capital. To provide reliable, predictable distributions and realize appreciation in our NAV from proactive investment management and asset management. We focus on investments in core, stabilized student housing properties.
Crew Campus, Inc.
Jeff Daly
Chief Executive Officer
(949) 247-7841
jeffd@versityinvest.com
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SOURCE Versity Invest, LLC
