Student housing to undergo improvements, rebranding
POSTED: Wednesday, May 15, 2013 - 6:33am
UPDATED: Friday, May 17, 2013 - 9:12am
Tyler, TX (Emet Capital Management) —
When students at the University of Texas at Tyler to school this fall, they will see some major changes at one off-campus student housing community.
Cambridge at Tyler, the 588-bed student housing community located directly across the street from campus at 3088 Old Omen Road, is undergoing major improvements and will be re-branded as “Village At The U.”
The new property owner, led by Emet Capital Management, who purchased the community in December 2012, made the decision to spend more than $1 million on improvements to the community and to undertake a complete brand transformation.
Along with amenity upgrades to the clubhouse and living units, major safety improvements will be added to Village At The U, including unit and individual bedroom security alarms as well as enhanced security gates, fencing, and high-resolution cameras. Students will also experience a variety of new resident activities and events starting this fall. Additionally, starting June 1, students who apply to live at Village At The U must have a minimum of a 2.5 GPA.
“We are investing over a million dollars into Village At The U to make these renovations and safety improvements in order to revitalize the project and as a direct response to feedback from students and the University,” said Paul Siegel, managing principal of Emet Capital Management. “We are anxious to fix the existing issues…this community should be the premier off-campus living destination for University of Texas at Tyler students, and we intend to make it their top choice.”
Construction is already underway in order to finish the vast majority of improvements to Village At The U by the end of the summer. A full unveiling of community upgrades will be released in conjunction with the University’s new student orientation on June 13.
Village At The U will be managed by Asset Campus Housing (ACH), the largest privately-owned student housing company in the nation, with a portfolio of more than 100 properties totaling over 55,000 beds. The community is independently owned and is not affiliated or associated with The University of Texas at Tyler.
About Emet Capital Management
Emet Capital Management, LLC is a private equity real estate investment management firm that focuses on distressed and special situation multifamily real estate opportunities within the municipal marketplace. Emet is co-founded by three principals who have a collective 55 years’ experience in rehabilitating, repositioning and restructuring underperforming rental housing assets. For more information, please visit www.emetcap.com.
About Asset Campus Housing (ACH)
Headquartered in Houston, Texas, Asset Campus Housing, Inc. ("ACH") is an affiliate of Houston-based Asset Plus Companies, a third party property management firm specializing in real estate services for investors, developers, and owners. Asset Campus Housing manages a student housing portfolio of 100+ properties, exceeding 55,000 beds located throughout the United States. In 2011 & 2012, ACH was recognized as the largest privately owned student housing company in the nation.