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Fred Pierce Pierce: “There is a limited universe of students who can afford the most expensive housing. Thus, we believe there is an increased risk of over-building at the high end of the market.”

SAN DIEGO—There are more first-generation college students than any time in history, and many of those students come from families with more modest income, Pierce Education Properties’ CEO and president Fred Pierce tells GlobeSt.com. Pierce Education Properties has become the 14th-largest owner of student housing in the country, as well as the 19th-largerst property manager in the industry, ranking among the top-25 owners of student housing in all eight years that Student Housing Business Magazine has published its rankings. In part 1 of a two-part story, GlobeSt.com speaks with Pierce about how the student-housing sector is reacting to this shift. Stay tuned for part 2 of our interview with Pierce, coming up on GlobeSt.com.

GlobeSt.com: Is the level of income changing with students and their families today, and how is the student-housing industry adapting to meet the financial resources of these students?

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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