CHARLOTTE, NC - Preiss, a national student housing and multifamily owner, developer, and operator, announced it has been awarded property management of The Mill and The Union, two student housing communities near the University of North Carolina at Charlotte.
Preiss secured the management contract following the acquisition of both assets by New York-based Triangle Capital Group. The agreement marks Preiss' strategic re-entry into the Charlotte market, expanding its managed portfolio by 569 beds across 230 units.
The properties are as follows: The Mill: Located just east of UNC Charlotte, features 386 beds across 131 units in 2x2, 3x3, and 4x4 floor plans. The Union: Located adjacent to campus; features 183 beds across 99 units in studio, 2x2, and 3x3 floor plans.
Ownership plans to invest approximately $5 million in capital improvements across both properties to modernize the communities and elevate the overall resident experience.
Planned upgrades include:
- Complete overhaul of both property clubhouses and amenity spaces
- Comprehensive interior unit renovations
- Integration of smart home technology
- Resolution of deferred maintenance items
- Full brand transformations for both communities
"We're thrilled to be back in the thriving Charlotte student housing market with these two standout communities," said Mike Kivitz, Director of Strategic Partnerships at Preiss. "Our immediate priority is enhancing the daily living experience for our residents, while working hand-in-hand with Triangle Capital Group to execute their long-term vision for both properties."
Source: Preiss