December 18, 2012

Trinitas and Harrison Street Complete The Cottages Near Purdue University

Lafayette, IN (December 18, 2012) – Trinitas Ventures LLC, a premier developer of student housing and mixed-use communities, has recently completed construction of its new, cottage-style student housing community located in West Lafayette, Indiana. The Cottages on Lindberg (The Cottages), a 193-unit, 745-bed student housing property currently serves students attending Purdue University (Purdue).

The Cottages is located 1 ½ miles north of Purdue’s main campus and 1/3 mile west of the championship-level Purdue’s golf courses.  The Cottages has 2, 3, 4 and 5 bedroom cottage-style units and provides a number of amenities including a 6,500 square foot clubhouse, a pool, a hot tub, a basketball court, and shuttles to campus.  The Cottages opened fully occupied in August 2012 and is nearly fully pre-leased for August 2013.

Exterior-Club-HouseEquity financing has been provided by a joint venture between Trinitas and Harrison Street Real Estate Capital (HSRE). The project represents the first cottage-style development for the Trinitas/HSRE partnership. Brian Thompson, Senior Vice President of HSRE stated, “While this is Trinitas’ first cottage-style project, we were confident in Trinitas’ ability to develop, construct, and manage this unique product and are excited to be invested in a blue chip market like Purdue.”

Construction financing was provided by U.S. Bank. This is the first construction loan financed by U.S. Bank for Trinitas’ student housing developments. Loren King, Chief Operating Officer of Trinitas, stated, “We are excited to begin our relationship with U.S. Bank. Without great partners like U.S. Bank and HSRE, successes like we have achieved at The Cottages would not be possible.”  Randy With, Cincinnati/ Indianapolis Market Manager for U.S. Bank added, “Trinitas is a highly successful student housing developer, and their success with the cottage-style product type is strong evidence of their market knowledge.  We are proud to be part of this project.”

About Trinitas
Trinitas is a fully integrated student housing company that finances, develops, constructs, and manages high quality student housing communities at major universities throughout the United States.  Trinitas currently owns and manages approximately $350 million in student housing assets consisting of more than 5,000 student housing beds.  Trinitas has financed $80 million in student housing through Q3 2012, and is currently developing more than $100 million in student housing assets consisting of 1,435 beds for Fall 2013 completion.  The privately held real estate development company is headquartered in Lafayette, Indiana.  Learn more about Trinitas at www.trinitas-ventures.com.

About Harrison Street Real Estate Capital, LLC
Harrison Street is a real estate private equity firm founded in 2005 that directly and through its affiliates, has approximately $4.5 billion in Assets Under Management (AUM) through commingled funds and public securities products. The commingled funds focus exclusively on the Education, Healthcare and Storage segments of the US real estate market. The firm currently owns approximately $4.0 billion in real estate assets including over 26,000 student housing beds, more than 6,000 senior housing/assisted living units, over 1.4 million square feet of medical office space, more than 72,000 self storage units, and over 4,600 dry & wet boat storage slips.  Additionally, Harrison Street Securities LLC currently manages over $500 million in REIT securities through distinct long only product offerings.  For more information visit www.harrisonst.com.

About U.S. Bank Commercial Real Estate 
U.S. Bank Commercial Real Estate specializes in providing creative credit and non-credit financial solutions for real estate developers, REITs, and commercial property owners across the United States. U.S. Bank offers such services as construction/development lending, property acquisition lending, refinancing, lines of credit, and syndications. With an employee base of 400 professionals in 24 offices, U.S. Bank Commercial Real Estate builds long-term relationships designed to help American businesses grow.

About U.S. Bank 
Minneapolis-based U.S. Bancorp (NYSE: USB), with $352 billion in assets as of September 30, 2012, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,086 banking offices in 25 states and 5,080 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at usbank.com.

December 11, 2012

Trinitas and Harrison Street Break Ground at Kennesaw State

Lafayette, IN (December 11, 2012) – Trinitas Ventures LLC, a premier developer of student housing and mixed-use communities, began constructing a new urban townhouse-style project in Kennesaw, Georgia earlier this fall. The Collegiate Towns and Flats, a 274-unit, 736-bed student housing property with an anticipated opening date of August 2013, will serve students attending Kennesaw State University (KSU).
The Collegiate is located immediately east of KSU’s main campus and within minutes of shopping and dining. The student housing property integrates large unit designs and townhouse-style apartment features with the convenience and atmosphere of modern living. It boasts a broad array of amenities including a 6,360 square foot clubhouse containing a recreation area, fitness center, business center and study rooms, as well as courtyards including a basketball court, sand volleyball court, pool, and hot tub.

Equity financing has been provided by a joint venture between Trinitas and Harrison Street Real Estate Capital (HSRE). The project represents the fifth development for the Trinitas/HSRE partnership and the seventh joint venture.  Brian Thompson, Senior Vice President at HSRE stated, “We are excited to invest in another development with Trinitas. Kennesaw State has a strong student housing market which will benefit from Trinitas’ development and operational expertise.”

121201468Construction financing has been provided by PNC Bank. “We are pleased to continue our relationships with PNC and HSRE,” stated Loren King, Chief Operating Officer of Trinitas. “Our strategic partnerships with both PNC and HSRE have been very successful in the past and enable us to capitalize on the best opportunities in student housing nationwide.”

About Trinitas
Trinitas is a fully integrated student housing company that finances, develops, constructs, and manages high quality student housing communities at major universities throughout the United States.  Trinitas currently owns and manages approximately $350 million in student housing assets consisting of more than 5,000 student housing beds.  Trinitas has financed $80 million in student housing through Q3 2012, and is currently developing more than $100 million in student housing assets consisting of 1,435 beds for Fall 2013 completion.  The privately held real estate development company is headquartered in Lafayette, Indiana.  Learn more about Trinitas at www.trinitas-ventures.com.

About Harrison Street Real Estate Capital, LLC
Harrison Street is a real estate private equity firm founded in 2005 that directly and through its affiliates, has approximately $4.5 billion in Assets Under Management (AUM) through commingled funds and public securities products. The commingled funds focus exclusively on the Education, Healthcare and Storage segments of the US real estate market. The firm currently owns approximately $4.0 billion in real estate assets including over 26,000 student housing beds, more than 6,000 senior housing/assisted living units, over 1.4 million square feet of medical office space, more than 72,000 self storage units, and over 4,600 dry & wet boat storage slips.  Additionally, Harrison Street Securities LLC currently manages over $500 million in REIT securities through distinct long only product offerings.  For more information visit www.harrisonst.com.

About PNC
PNC Bank, NA is a member of the PNC Financial Services Group, Inc.  The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news and announcements from PNC.

November 1, 2012

Private Housing Goes to School

Lafayette, IN (November 1, 2012) – PNC has teamed up with a visionary developer to deliver student housing that is affordable, comfortable and creates a sense of community that enhances the college experience.

Students at three major universities have attractive new housing options thanks to Trinitas Ventures LLC of West Lafayette, Indiana and to financing provided by PNC. Trinitas is a premier developer, owner and manager of high quality commercial real estate, specializing in student housing and mixed-use communities at leading universities throughout the United States.

The developer’s innovative concept puts first-class private housing within walking distance of classrooms. Offering competitive rental rates, these projects feature student-friendly designs, including a floor plan that separates bedrooms from common areas for increased noise control and privacy. Additionally, each offers a high level of amenities including a club house, workout facility, swimming pool and business center.

The 667-bed, 1201 Indiana, mixed-use development at Indiana University-Purdue University (IUPUI) in downtown Indianapolis will help transform IUPUI into a close-knit, urban college community when it opens in August 2011. Trinitas teamed up with Harrison Street Real Estate Capital, Chicago, Illinois, to develop and manage this $100 million joint venture, which presented a unique opportunity to bring private housing on to campuses like IUPUI.

Also opening soon is The Collegiate, a four-story, student-oriented urban apartment community in Richmond, VA. It will serve Virginia Commonwealth University (VCU), one of the largest and fastest-growing universities in the state. As VCU transitions rapidly from a commuter school into a residential university, the development will help to accommodate the growing number of full-time students.

The 668-bed project known as The Village at Muller Park in Bloomington, Indiana was the first of the three developments financed by PNC. It opened in 2008 near Indiana University in a 35-acre park-like setting with dedicated conservation and recreational areas.

“Our focus is on identifying high quality student housing development opportunities and providing top quality service to our investors, clients, and residents,” said Loren King, Chief Operating Officer and General Counsel of Trinitas.

With a vision like that, it’s not surprising that Trinitas was named one of the top owners within the student housing industry for 2010 according to the November/December 2010 issue of Student Housing Business.

 

November 22, 2011

Trinitas Appoints New Chief Financial Officer

Lafayette, IN (November 22, 2011) – Trinitas Ventures LLC, a premier developer, owner and manager of high-quality student housing communities today named Mark D. Larson as its new Chief Financial Officer.   Mr. Larson will continue oversight of the accounting, finance and treasury operations of Trinitas, as well as maintenance of key operational relationships with Trinitas’ joint venture partners.  Mr. Larson will continue to participate on the company’s real estate development, finance, administrative, property management, and information technology committees.

M.Larson-Color“Mark is a strong leader and has demonstrated the kind of superior business and financial acumen that makes him uniquely qualified to be Trinitas’ CFO,” said Loren King, the company’s chief operating officer and principal. “Over the last two years, I have watched Mark push his teams to accomplish strategic objectives that previously seemed unobtainable, while further enabling the success of Trinitas’ aggressive growth strategy.”

Prior to joining Trinitas in September 2009, he served as Director, Financial Planning and Analysis with General Growth Properties, Inc., a public retail real estate investment trust located in Chicago, Illinois.  Preceding his employment with GGP, he was employed with The Taubman Company in Bloomfield Hills, Michigan.  Mr. Larson has over 15 years of real estate experience in the accounting, finance, asset management and joint venture relations fields spanning both public and private firms.  Mr. Larson is a graduate of the University of North Florida and has earned the Certificate in Management Accounting.

About Trinitas

Trinitas Ventures is a fully integrated student housing company that finances, develops, constructs, and manages high quality student housing communities at major universities throughout the United States. Trinitas currently owns and manages over $150 million in by-design student housing assets and has an additional $70 million of by-design student housing under development.  Trinitas completed more than $130 million in student housing financings in 2010 through Q2 2011.  The privately held student housing company is headquartered in Lafayette, Indiana.  Learn more about Trinitas at www.trinitas-ventures.com.

July 11, 2011

Trinitas Ventures Begins Construction of a New Urban-Infill Student Housing Community in Richmond, Virginia

West Lafayette, IN  (July 11, 2011) – Trinitas Ventures LLC (Trinitas), a premier developer of student housing and mixed-use communities, began construction of a new, urban-infill, student-housing community, located in Richmond, Virginia. The Collegiate, a 269-unit / 690-bed student housing property, will serve students attending Virginia Commonwealth University (VCU) and has an anticipated opening date of August 2012.

Screen-Shot-2014-04-30-at-3.51.18-PMThe Collegiate will be located 1/2 mile immediately north of VCU’s Monroe Park Campus in the heart of Richmond, Virginia’s downtown area. The student housing community integrates large unit designs and townhouse-style apartment features with the convenience and atmosphere of urban living. It boasts a broad array of amenities including a 6,274 square foot clubhouse containing a recreation area, spa, and fitness center as well as a courtyard including a basketball court, sand volleyball court, pool, and sundeck.

Equity financing has been provided by a joint venture between Trinitas and Harrison Street Real Estate Capital (HSRE). The project represents the second infill development for the Trinitas/HSRE partnership and the thirteenth investment for the recently launched Harrison Street Real Estate Partners Fund III. Brian Thompson, Senior Vice President of HSRE stated, “This is the exact type of investment we anticipated when we partnered with Trinitas to provide student housing. This strategy of building out infill, higher-density sites is critical to our broader strategy within the education space.”

Construction financing has been provided by PNC Bank, NA (PNC). This is the third construction loan in the last four years provided by PNC for Trinitas’ student housing developments. “We are excited to continue with our relationships with PNC and HSRE,” added Loren King, Chief Operating Officer of Trinitas. “We appreciate and value strategic partners like PNC and HSRE that understand student housing and the value creation inherent in the projects we seek to develop. These relationships are critical as we seek to develop outstanding student housing throughout the U.S.”

About Trinitas

Trinitas Ventures is a fully integrated student housing company that finances, develops, constructs, and manages high quality student housing communities at major universities throughout the United States. Trinitas currently owns and manages over$150 million in student housing assets and has an additional $70 million of student housing under development.  Trinitas completed more than $130 million in student housing financings in 2010 through Q2 2011.  The privately held student housing company is headquartered in West Lafayette, Indiana.  Learn more about Trinitas at www.trinitas-ventures.com.

About Harrison Street Real Estate Capital, LLC

Harrison Street Real Estate Capital, LLC, is a real estate private equity firm founded in 2005. The firm, on behalf of Harrison Street Real Estate Partners I, II and III, currently owns approximately $2.8 billion in real estate assets which includes over 20,000 student housing beds, 5,800 senior housing / assisted living units, over 61,700 self-storage units, 2,850 dry & wet boat storage and 920,000 square feet of medical office space.  For more information on Harrison Street Real Estate Capital please visit www.harrisonst.com.

About PNC

PNC Bank, NA is a member of the PNC Financial Services Group, Inc.  The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news and announcements from PNC.

April 20, 2011

Trinitas Ventures COO Mediates Panel Discussion on New Product and Development Trends in Student Housing

West Lafayette, IN (April 20, 2011) – Loren King, COO of Trinitas Ventures LLC, a fully integrated student housing company, was appointed Moderator for the discussion panel New Products and Development Trends in Student Housing for Student Business Housing’s 2011 Interface Student Housing Conference held in Austin, Texas. This national event is a conference and networking occasion that focuses on all facets of the student housing industry.

loren_kingThis distinguished panel was moderated by Loren King, COO and general counsel, of Trinitas, and featured: Les Juneau, President of Juneau Construction Co.; Brian Dinerstein, Principal of Dinerstein Cos.; Leah Fitzgerald, Business Development Manager for MW Builders; Susan Eastridge, CEO of Concord Eastridge; and Herbert Heiserman, Managing Principal of Street Sense.

According to the panel, during the past 30 years, more build-out activity has taken place on US college and university campuses than in the prior 100 years. Although the discussion focused on new product and development trends, it was made clear that the student housing market is still driven by fundamentals such as market demand. It was added that each student housing market differs in its entirety and requires extensive market research and planning to ensure the needs of all parties associated are met.

Panel members discussed the importance of incorporating student housing into a mixed-use product (more functionality than just student housing) with retail space. “By strategically planning the development project, all interested party needs including students, business, community and municipalities, can be addressed and met,” says King. “With strategic planning, functionality can meet innovation.”

Other discussion topics included the “musts” when developing student housing in a mixed-use project.  “Students keep around-the-clock hours. This alone provides the need for 24/7 accessible services,” said King. The panel also highlighted the importance of providing students both wired and wireless internet and cable services.

Finally, the panel discussed that replacement housing is an up-and-coming trend for the future as schools have evaded this upgrade for years. Student housing developments built in the 1950s and 1960s that offered shared bedrooms and bathrooms are beginning to be refitted for today’s independent student.

 

About Trinitas Ventures LLC
Trinitas Ventures is a premier developer, owner and manager of high quality commercial real estate, specializing in student housing and mixed-use communities at high quality universities throughout the United States.  Trinitas is a fully integrated real estate firm with expertise in market analysis and identification; site selection and acquisition; property acquisition and due diligence; project planning, design, and financing; and development, construction, property management, and leasing.  The privately held real estate development company is headquartered in West Lafayette, Indiana.  Learn more about Trinitas at www.trinitas-ventures.com.

March 1, 2011

Trinitas Recognized as a Top National Owner of Student Housing

West Lafayette, IN (March 1, 2011) – Trinitas Ventures LLC (Trinitas), a leading national developer, builder and manager of student housing, was named one of the top owners within the student housing industry for 2010.  According to the November/December 2010 issue of Student Housing Business, the leading news and information portal for the industry, Trinitas was awarded this honor along with other major contributors including American Campus Communities, Education Realty Trust, and The Collier Companies.

Unknown“Our focus is on identifying high quality student housing development opportunities and providing top quality service to our investors, clients, and residents,” said Loren King, Chief Operating Officer and General Counsel of Trinitas.  “We have never sought to acquire a large number of beds, so it was surprising to see that, even in spite of several dispositions, we own a large enough portfolio of student housing to warrant mention as one of the top student housing owners in the country.”

In late 2010, Trinitas and Chicago-based real estate private equity firm Harrison Street Real Estate Capital (HSRE) formed a $100 million joint venture partnership to develop and manage urban-infill student housing communities throughout the country.  The magazine also honored HSRE as one of the top private equity investors in the student housing space.

“I am very optimistic about the current efforts of our development team to identify high-quality, high-return development opportunities in high-barrier-to-entry markets with a quantifiable undersupply of student housing.  Regardless of where Trinitas may rank on a list in the years to come, I expect our portfolio’s size and quality to continue to grow in the future,” stated King.

About Trinitas Ventures LLC
Trinitas Ventures is a premier developer, owner and manager of high quality commercial real estate, specializing in student housing and mixed-use communities at high quality universities throughout the United States.  Trinitas is a fully integrated real estate firm with expertise in market analysis and identification; site selection and acquisition; property acquisition and due diligence; project planning, design, and financing; and development, construction, property management, and leasing.  The privately held real estate development company is headquartered in West Lafayette, Indiana.  Learn more about Trinitas at www.trinitas-ventures.com.

 

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