CLS announces that it has expanded its management portfolio to California, as they been awarded the management of two student housing properties located in San Diego.
AUSTIN, Texas, Feb. 17, 2023 /PRNewswire-PRWeb/ -- Campus Life & Style (CLS), one of the nation's leading operators of student housing communities, today announced it has been awarded the management of two student housing communities totaling 315 beds that are being developed by Next Space Development based in San Diego. The purpose-built student housing developments, StateSide and Monte are located on Montezuma Rd which allows for its residents to be within a 2-min walking distance of campus and across the street from San Diego State University (SDSU) Residential Halls.
Jim Sholders, CEO of Campus Life and Style commented on this impressive addition to the CLS Third Party Portfolio, "We are thrilled to partner with Next Space development to operate these luxury grade student apartments. The development and opening of StateSide and Monte are part of a larger vision that has been in the works for years. The inevitable success of these deals will continue to inspire further deals in the market which are all steps from campus. CLS's ability to lease and manage true luxury accommodations with a focus on hospitality is the perfect complement for both impressive communities."
CLS manages a student housing portfolio consisting of 29,772 beds which spans 27 markets, 16 states, and 60 properties inclusive of this latest assignment. The CLS team has built a best-in-class operating platform consisting of exceptionally talented personnel dedicated to providing residents with industry-leading customer service. CLS is the only student housing management company in the U.S. to have participated in The Forbes Travel Guide's global training platform focused on five-star hospitality and concierge services. CLS' select third-party management offering provides clients with an unmatched level of attention, along with unsurpassed talent, knowledge, creativity, and standards of excellence.
Driven by SDSU's impressive growth, its enrollment trends, and increasing demand for student housing, StateSide and Monte is a Co-GP partnership complimenting the SDSU Master Plan, which is transforming the Top of the Mesa and the heart of the college area. Both developments deliver high-quality student housing, and pedestrian to campus, which will benefit SDSU and fuel local economic growth for decades to come. "Through this Co-GP partnership, Next Space Development was able to be part of an amazing opportunity to become a part of one of the most exciting transformations of housing and mixed-use infill projects which will in turn define SDSU for the next century. My son just graduated from SDSU during the pandemic, so to be a small part of the future at SDSU is deeply gratifying." said Rudy Medina, Co-Founder of Next Space Development.
StateSide, now leasing for August 2023 (http://www.LiveStateSide.com), is currently offering 2-, 3- and 4-bedrooms with double occupancy options that also offer individual leases and roommate matching. Located Steps from the SDSU Campus, StateSide offers residents with 5th Floor Sky-Lounge study spaces and skybox views which include free printing. The property features a secure keyless entry system with personalized codes for access to the community, 24-Hour on-site management and maintenance, a luxury community kitchen for resident events, and an outdoor lounge greenspace with seating. Conveniently located across the street from the property, Parking Structure 3 is available for any residents that decide to bring a vehicle. "We were fortunate to be partnering with Campus Life and Style (CLS) as the management company; for example, our values are aligned in the fact that we want the projects we associate with to be "best in class". Best in development, best in customer service, and of course, we wanted the best in management." said Rudy Medina.
Monte, located at 63rd and Montezuma Rd, is scheduled to open in August 2024 and will offer 3- and 4-bedrooms with double occupancy options and will also offer individual leases and roommate matching. With amenity-rich offerings such as study rooms and a community kitchen, Monte will also showcase two courtyards that will feature a waterfall + fire-pit courtyard. These amenities will be complemented by a two-thousand sqft rooftop terrace overlooking the SDSU campus. More details to come as development breaks ground in Spring 2023.
Medina added, "The point is that the team is always innovating, and CLS has the same "be the best we can be" philosophy. Moreover, positioning CLS early in our development pipeline, gave us the best practices from an institutional grade manager which has positioned us to make these SDSU Developments two of the most dynamic student housing projects in San Diego. We could not be happier with how our property management search turned out."
About Next Space Development
Founded by respected real estate developer Rudy Medina and construction specialist Richard Simis, Next Space Development's team consists of experienced professionals, each with a track record of success developing and managing market-rate and rental apartment communities, and condominiums in San Diego, Las Vegas, and San Antonio. Skilled at recognizing and analyzing locations with upside potential creating a win/win for the community and our stakeholders. Next Space Development capitalizes on opportunities by purchasing overlooked properties or adding value by investing, renovating, and rehabilitating neglected assets. Moreover, Next Space Development is also known as an urban infill specialist, navigating difficult-to-access sites and all of the challenges that present themselves when construction takes place in a confined environment. For more information about Next Space Development, please visit http://www.nextspacedev.com.
About Campus Life & Style
Founded in 2015, Campus Life & Style (CLS) is Vesper Holdings' property management subsidiary based in Austin, Texas. As one of the largest student housing operators in the industry, CLS manages a portfolio consisting of 60 communities that total nearly 30,000 beds. Its senior leadership team features one of the most experienced and respected line-ups of student housing professionals in the United States. CLS is helmed by industry veteran Jim Sholders. Before joining CLS, Mr. Sholders served as a top executive at American Campus Communities (ACC) and was responsible for the overall fiscal operations, asset management, leasing, and personnel supervision of ACC's entire owned portfolio. For more information about Campus Life & Style, please visit http://www.clsliving.com.
Media Contact
Teddy Abdelmalek, Campus Life and Style, 1 512-436-3955, [email protected]
SOURCE Campus Life and Style
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