CAYCE, SC—San Diego, CA-based Pierce EducationProperties has acquired the Pointe Weststudent housing community here for $16.35 million.


The student housing investment and management firm saysKeyBank provided debt financing of approximately$8.5 million for the 480-bed, 144-unit off-campus student housingcommunity that serves students of the University of SouthCarolina.


The fully furnished community features two- and four-bedroomunits, modern appliances, leather furniture, privatebalconies/patios, as well as a private washer and dryer in eachunit. Property amenities include a resort-style pool surrounded bya large sundeck and hot tub, a fitness center, Internet café withcoffee bar, sand volleyball court, basketball court, on-site hikingtrails linking to regional riverfront pathways, and picnic-styleareas equipped with grills.


“This is the fourth acquisition for PEP in the last 200 daystotaling 2,700 beds during that period,” says Pierce EducationProperties President and CEO Fred Pierce. “We arevery active buyers and are seeking to invest another $300 millionin other acquisitions in the student housing sector over the next24 months including core, core-plus and value-addedopportunities.”


Pierce has a portfolio of 6,850 beds and since 2007 hascompleted more than $450 million in acquisitions totaling more than11,000 beds.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.