2024
May 22, 2024
Trinitas Ventures Hires Key Leadership Roles
Lafayette, IN. – Trinitas Ventures
is excited to announce the hiring of Julia Watson as executive vice
president, property management and Brett Hill as senior vice
president, capital markets. Mark Baumgarten has been appointed
executive vice president, special projects.
Julia Watson has been hired as executive vice president of property
management where she leads Trinitas’ property management strategy
and operations and is responsible for the success of the company’s
portfolio. She brings over 22 years of experience in the
multifamily industry, starting her career as a leasing agent in
2002. Most recently, she served as senior vice president for an
NMHC Top 50 management company and has led large scale operations
teams at other nationally recognized management firms.
Brett Hill has joined Trinitas as senior vice president of capital
markets where he is responsible for executing on debt and equity
capital markets activities and developing and maintaining
relationships with partners, lenders, and intermediaries. Brett has
over 17 years of experience and most recently served as managing
director at Greystone where he focused on student housing and
multifamily debt and equity solutions.
In addition to adding Julia and Brett to their leadership team,
Trinitas has also appointed Mark Baumgarten as executive vice
president of special projects. In his new role, Mark leads
strategic initiatives and special projects that drive the
acceleration of Trinitas’ overall real estate platform.
“I am very excited about the continued success Trinitas has
attracting and retaining top talent,” says Loren King, chief
executive officer. “The addition of Julia and Brett, along with the
intentional focus on strategic initiatives, will serve Trinitas
well in preparation for our planned growth.”
2023
October 18, 2023
Trinitas Ventures Welcomes William Swiderski as Senior Vice President of Accounting, Financial Planning and Analysis, and Tax
Lafayette, IN. – Trinitas Ventures
is excited to announce its hiring of William “Bill” Swiderski as
senior vice president of accounting, financial planning and
analysis, and tax. “It gives me great confidence to know that Bill,
a seasoned commercial real estate professional, is stepping into
this role. He has a comprehensive understanding of best practices
from great institutions that will help us lead Trinitas through our
next stage of growth,” said Loren King, chief executive officer. “I
look forward to working closely with Bill to ensure that we
continue to drive improved operating performance and disciplined
execution of our Scaling Up strategic plan.”
Bill has 25 years of experience in accounting and investment
management of commercial real estate. Prior to joining Trinitas,
Bill served as head of fund finance for DWS Group, a leading
international asset manager with nearly $1 Trillion in AUM. Prior
to his tenure eight years at DWS, he served as the senior vice
president and national director at LaSalle Investment Management
where he was responsible for performance measurement and accounting
for LaSalle’s custom accounts portfolio in the Americas. Bill holds
a B.S. in Commerce with a concentration in Accounting from DePaul
University. He is a certified public accountant and a CFA
Charterholder. His extensive qualifications and expertise make him
an exceptional addition to the Trinitas team.
September 16, 2023
Trinitas Ventures Hires Nick Drummond to Lead Property Management Operations
Lafayette, IN. – Trinitas Ventures
is pleased to announce the appointment of Nick Drummond as senior
vice president of property management operations.
In his new position, Nick assumes a critical role in ensuring the
operational and financial success of Trinitas Ventures' diverse
portfolio, encompassing student housing, build-to-rent,
conventional, and multi-family properties. As part of his efforts,
Nick will be championing Trinitas’ efforts in advancing property
management functions for new developments and existing properties
across the portfolio.
Nick brings a wealth of experience and expertise to his new role,
with over 20 years of student housing industry experience. Prior to
joining Trinitas Ventures, Nick served as a regional vice president
(operations) with Landmark Properties, where he played a key role
in overseeing the collective operations of a third of Landmark’s
management portfolio (34 properties, totaling 18,000 beds). His
extensive background includes various positions at American Campus
Communities (ACC), where he started as a community assistant and
progressed to the role of regional manager. Nick's experience also
includes a two-year tenure as a regional operations manager for
Aspen Heights, where he oversaw their entire East Coast
portfolio.
“Nick’s extensive property management experience and leadership in
student housing will be a great addition as we continue to grow our
platform in the coming years’ said Mark Baumgarten, executive vice
president of property management at Trinitas “His strong
track record in a multitude of markets on both operational and new
developments will enhance our team’s capabilities.”.”
2022
September 16, 2022
Trinitas Ventures Fully Leases Tempe High-Rise Retail Serving ASU Students
Lafayette, IN. – Trinitas
Ventures, one of the nation’s leading real estate developers, is
pleased to announce today that it has successfully leased 100% of
its retail space inside Atmosphere Tempe, a 20-story luxury
high-rise community serving the students at Arizona State
University.
Rusty Taco, started in 2010 by Rusty Fenton in Dallas, opened in
July 2022 and has leased 3,000 square feet at the corner of Forest
Avenue and 7th Street. They will focus on their taco stand-inspired
street tacos, along with a full-service indoor/outdoor bar, and
will have an exciting patio area. Pokeworks, founded in 2015,
opened in June 2022 and has leased 1,000 square feet for its first
location in Arizona and will offer fresh poke bowls, salads,
burritos, and sushi.
Rounding out the retail space will be Happy Joe Coffee, a Los
Angeles based coffee shop known for its CBD-infused coffee, which
opened in April 2022 and has leased 700 square feet for its first
coffee shop outside of L.A. They offer a full-service coffee bar
with a focus on flavorful, artisanal coffee.
“We are thrilled to be 100% leased on our retail space with the
great line-up of Rusty Taco, Pokeworks, and Happy Joe Coffee,” says
Mark Becher, Trinitas’ vice president of mixed-use
development. “Each are great additions that will not only
benefit the residents of Atmosphere Tempe, but the entire Tempe
community.”
“It was a pleasure to represent Trinitas on the retail component of
their new residential tower in Downtown Tempe,” says Kalen Rickard,
senior vice president at Western Retail Advisors. “It is
great to see continued activation of the retail and restaurant
offerings in Tempe as the area continues to densify and
transform. We are excited for the success of these three new
tenants at Atmosphere.”
August 10, 2022
Trinitas Ventures, Crawford Hoying Move Forward with Next Phase of $640 Million Mixed-Use Development, The District at Clifton Heights
Cincinnati, Ohio – Trinitas
Ventures, in partnership with Crawford Hoying, is moving forward
with the second phase of their mixed-use development community in
Cincinnati, OH: The District at Clifton Heights.
The District at Clifton Heights is the site of the former Deaconess
Hospital at Clifton Avenue and Straight Street, across from the
University of Cincinnati. The first phase of the $640 million
transformational development included The Deacon, a $120 million,
8-story student housing building boasting an array of best-in-class
amenities and offering a variety of floorplans. The 351-unit
building was developed and constructed by Trinitas and opened in
August 2019.
The $250 million second phase, opening in Summer 2024, will
include: • Hub Cincinnati, a $143 million, 14-story student housing
tower containing 380 units and 1,112 beds developed by
Chicago-based Core Spaces. • Hotel Celare, a $65 million, 7-story
hotel developed by Columbus-based Crawford Hoying. This will be
located at 310 Straight Street and will feature a rooftop bar
overlooking the campus entrance. The hotel will accommodate 171
rooms and have over 18,000 square feet of dining and entertainment
space..
Trinitas, in partnership with Crawford Hoying, worked with The Port
of Cincinnati and City of Cincinnati to provide a $40 million TIF
package to fund public improvements, improved streetscapes and a
public parking garage. At full buildout, The District will be home
to more than 3,000 residents, create over 2,000 jobs, and generate
nearly $11 million in annual taxes for Cincinnati and Hamilton
County.
“Our vision for The District at Clifton Heights took shape more
than four years ago and was built on active input from community
residents, elected officials and key stakeholders,” said Aaron
Bartels, Executive Vice President of Mixed-Use Development for
Trinitas. “This next phase is an important evolution to The
District as we continue to activate Straight Street with a great
pedestrian-oriented experience. We’re thankful for our partnership
with Crawford Hoying, Core Spaces, the Port and City of Cincinnati
to bring The District to this important milestone.”.
Future phases of The District at Clifton Heights will include a
multifamily development, commercial space, public parking garage
and a senior housing development.
Photo Credit: Reveal Visuals
July 15, 2022
Trinitas Ventures Build-for-Rent and Multifamily Development Division, Hires Eric Wojak to Lead
LAFAYETTE, IN. – Trinitas
Ventures, a national investor, developer, builder, and manager, of
commercial and residential real estate has hired Eric Wojak as
executive vice president, build-for-rent and multifamily
development to lead its new build-for-rent and multifamily
development division.
Trinitas plans to develop quality, engaging, purpose-built single
family and multifamily rental communities in the US’ strongest
growth markets struggling with housing shortages. Trinitas intends
to develop approximately $1 billion in build-for-rent and
multifamily through 2024. Expanding upon the Trinitas development
success in student housing development, the new division is in
response to the present shortage of housing nationwide.
Wojak most recently served as vice president of development at
Thompson Thrift where he was responsible for the company’s
build-for-rent development efforts.
“Eric’s strong track record in build-for-rent will serve him well
as he leads Trinitas to become a market leader in both
build-for-rent and multifamily development nationally,” says Loren
King, CEO of Trinitas. “His extensive build-for-rent experience
combined with Trinitas’ strong track record in student cottage
development, construction and management are a strong strategic
advantage.”
March 14, 2022
Crawford Hoying and Shaner Hotels Announce New 171-Key Hotel at The District at Clifton Heights in Cincinnati
CINCINNATI, OHIO (March 14, 2022)
- Ohio-based real estate developer, Crawford Hoying, in partnership
with Shaner Hotels, an award-winning, international hotel owner,
operator and developer, today announced a new Tribute Portfolio
Hotel at The District at Clifton Heights in Cincinnati, Ohio.
“Hotel Celare” will feature 171 keys, a jump lobby, rooftop bar,
multiple outdoor spaces and more. Construction on Hotel Celare is
expected to begin later this year, with an anticipated completion
date in early 2024.
“The new Hotel Celare will mark our seventh hotel in Ohio and our
47th Marriott-branded property,” said Plato Ghinos, president of
Shaner Hotels. “We will use this market and brand expertise to ramp
up the hotel more quickly. Upon completion, we are confident the
hotel quickly will take its place as the destination of choice for
business and leisure travelers to the area.”
Hotel Celare will be located at 310 Straight Street in The District
at Clifton Heights - the newest mixed-use community ideally
situated across the street from the University of Cincinnati’s
campus in the Uptown Innovation Corridor. With a convenient
location in the center of multiple hospitals, Findlay Market, the
Cincinnati Zoo and Botanical Garden, Hotel Celare will be a short
drive from downtown and some of the premier businesses in the
region.
The seven-story, 132,000 SF building is being designed by
Meyers+Associates, and will feature a 50/50 mix of high-end queen
and king hotel rooms. In addition, the building will include 18,500
SF of leasable ground floor and second floor retail/restaurant
space, as well as event and meeting space on the second floor.
Ample outdoor terraces overlooking Straight and Clifton Streets and
a rooftop bar on the seventh floor are a few of the additional
amenities that will be offered at Hotel Celare. A 24/7 fitness
center, flexible meeting facilities with outdoor space and a
state-of-the-art business center round out the hotel
experience.
“We’re thrilled to bring Hotel Celare to the vibrant Cincinnati
community,” said Bob Hoying, principal at Crawford Hoying. “This
exciting new hotel will offer extensive amenities, dining and
entertainment options, as well as a uniquely curated experience for
visitors to enjoy.” The Tribute Portfolio collection is Marriott’s
quickly growing upscale to upper-upscale hotel line, which features
hotels with personality expressed through vibrant social spaces and
focal design moments. Their target demographic isn’t specific to an
age group, but instead revolves around “Modern Mavericks” - people
who are vibrant, eclectic and curious about the world.
Each Tribute Portfolio hotel has a unique brand, which leads the
service and architectural and interior design. Hotel Celare’s
brand, led by Norris Design, focuses on “curating curiosity,” which
transcends through the interior design, space plans and service
pillars. The interior design is being led by Texas-based design
firm, Studio 11, who brings extensive Tribute Portfolio experience
to the project team. A bright color palette, lush materials and fun
patterns will be featured throughout the building. Interior
renderings and additional tenant announcements are forthcoming.
Hotel Celare is being developed by Crawford Hoying in partnership
with Trinitas Ventures as part of The District at Clifton Heights,
a transformational, mixed-use $500 million development connecting
campus and community. The District totals five acres in size along
both sides of Straight Street, an ideal location that provides
premium views in an active, pedestrian-oriented neighborhood. Once
completed, the urban development is expected to add 3,200
residents, 815 permanent jobs and 1,800 construction jobs, and $40
million in infrastructure improvements. With a mix of student
housing with The Deacon and The Hub, hospitality with Hotel Celare,
retail/restaurant offerings, numerous green spaces, public parking
and multifamily units, the urban development will blend the
fast-growing University of Cincinnati community with Cincy locals.
Construction on the newest phase of development will begin on April
1.
For more information on The District at Clifton Heights and to
inquire about leasing opportunities at Hotel Celare, visit www.thedistrictatcliftonheights.com
or contact Crawford Hoying at 614.335.2020.
2021
June 8, 2021
The District - Approved Development Agreement
LAFAYETTE, IN. — Trinitas Ventures
LLC (“Trinitas”), a premier owner, investor, developer and builder
of student housing, multifamily and mixed-use communities,
announced the unanimous, 9-0, approval of the mixed-use development
agreement for The District at Clifton Heights from Cincinnati City
Council, Wednesday, May 19.
The transformational development – the largest private real-estate
investment in Cincinnati – will leverage approximately $80 million
of tax-increment financing (TIF) to fund public infrastructure and
parking, utility improvements, and streetscape enhancements. This
approval provides Trinitas and partner Crawford Hoying a
significant source of funding required to move forward with “The
District” which will be completed in two phases. Phase one, set to
total $315 million is comprised of the existing 1,029-bed property,
The Deacon; 1,112-bed and 2,300 square feet of commercial space,
Hub at Cincinnati; a 175-room hotel with 22,000 square feet of
retail space, a new Delta Delta Delta sorority house, and a
169-space public parking garage. Phase 1 is slated to be complete
October 2024.
“Trinitas seeks to invest and develop in thriving cities near
dynamic universities. We are excited to have cleared another major
milestone in this mixed-use development that will be transformative
for the Clifton Heights neighborhood, the University and the City
of Cincinnati,” stated Trinitas’ CEO, Loren King.
The second phase, projected to cost approximately $185 million is
targeted for completion by the end of 2025 and will consist of
45,000 square feet of commercial space, 170 senior housing units
with private parking garage space, 350 multifamily units, a public
parking garage and other public infrastructure improvements.
Upon completion, The District will house over 3,200 residents,
establish approximately 815 permanent jobs and 1,200 construction
jobs, generate $11.8 million in annual tax revenues, and provide an
overall investment of $500 million. “We appreciate this historic
investment in our city,” Cincinnati’s Mayor John Cranley stated
about The District, “It is just incredible to see the
transformation that will take place and appreciate their commitment
to invest hundreds of millions of dollars in Cincinnati”.
Learn more on The District at www.thedistrictatcliftonheights.com
Trinitas is an owner, investor, developer, builder and manager of
commercial real estate in vibrant cities throughout the US,
specializing in student housing, multi-family and mixed-use
development. Trinitas currently owns and is developing
approximately $500 mm in student housing, multi-family and
mixed-use assets, with an additional $1 billion in its development
pipeline. The company is headquartered in Lafayette, Indiana with
offices in Indianapolis and Chicago. Learn more about Trinitas at
www.trinitas.ventures.
About Crawford Hoying: Crawford Hoying is a full-service real
estate development company, based in Dublin, Ohio, concentrating in
all aspects of acquisition, design, development, construction,
management, as well as commercial and residential brokerage. In the
past five years alone, they have developed more than $1.3 billion
of mixed-use, multifamily, office and retail properties. Crawford
Hoying creates a sense of place; focused on consumer needs from a
commerce, culture, and community perspective. Bridge Park,
www.bridgepark.com, and Water Street District,
www.livewaterstreet.com, are examples of Crawford Hoying’s
transformational development capabilities. To learn more about
Crawford Hoying, visit www.crawfordhoying.com.
February 3, 2021
Ann Arbor spending $1.5M to add 3.8-acre wooded area to city park network
ANN ARBOR, MI — Ann Arbor is
adding three more properties to the city’s park system. All three
acquisitions, including one costing $1.5 million, went through City
Council for approval this week.
That includes a 3.8-acre wooded area next to Mary Beth Doyle Park,
a 0.6-acre property next to an Ann Arbor Housing Commission complex
on the city’s west side and a nearly 10-acre property along M-14
behind a new development.
The largest of the three is being donated to the city by Trinitas
Ventures, which is building a 682-bed apartment complex at 2601
Pontiac Trail, previously known as the Cottages at Barton Green and
now called The One. The city plans to maintain the new parkland
there as a natural area with public access.
Council voted 11-0 to purchase the small, tree-filled property
along the Dexter Avenue entrance to the Housing Commission’s West
Arbor affordable housing complex. That site is being sold to the
city by St. Joseph Mercy Health System for $184,000, with council
allocating another $27,500 for closing and due diligence costs.
“Staff anticipates maintaining this property as an active area that
may include basketball courts,” a city memo states. “This property
and associated improvements would offer amenities to the community
that are unavailable at the nearby Veterans Memorial Park.”
There was some discussion and debate over spending $1.5 million to
purchase the wooded area next to Mary Beth Doyle Park off Cardinal
Avenue, where developer Bill Kinley’s plans for a 19-home
development have been scrapped.
Given the city’s need to build more housing, particularly
affordable housing, some council members questioned taking away
that potential use of the property.
After some discussion with city staff about the ecological quality
of the woods, council agreed to purchase the land from Kinley’s
company in a 10-1 vote with only Ali Ramlawi, D-5th Ward,
opposed.
Ramlawi questioned the costs. The city plans to maintain the
property as a natural area. Counting existing adjacent parkland, it
brings the total contiguous natural area there to over 85
acres.
The purchases were reviewed and recommended by the Land Acquisition
Committee of the city’s Park Advisory Commission. The money is
coming from the city’s open space and parkland preservation
millage.
The city had about a $7 million balance in its parkland acquisition
fund prior to council’s action this week. The city also had a $6.3
million balance in its greenbelt fund before council approved
significant purchases to preserve hundreds of acres of farmland
outside the city.
January 11, 2021
Trinitas Breaks Ground on Student Housing Near Indiana University
Lafayette, IN Trinitas Ventures, a
premier owner, investor, developer and builder of student housing,
multi-family and mixed-use communities announced today that it has
closed on the property located at W 17th Street, Bloomington, IN
serving the students and community of Indiana University (“IU”).
The project will be comprised of houses, townhomes, and flats-style
apartments and will be a short Bloomington Transit ride to
shopping, dining, and IU’s campus.
The 825 bed, 334 unit community will feature a unit mix of one -,
two-, three-, and four-bedroom apartments and boast a luxury
amenity package including a modern clubhouse with ample study space
and lounge area, resort-style pool and sundeck with year-round spa,
outdoor grilling area and putting green, fitness center, and yoga
studio. Also included will be a multipurpose path traversing
throughout the site that will connect to the City’s newly enhanced
W. 17th Street project and its accompanying network of pathways
leading into the City and around the IU campus.
This beautiful project site consists of 39.29 acres with
approximately 14.62 acres set aside as conservation area intended
to protect large hardwood trees and existing environmental
features. Trinitas has formed a partnership with Bloomington
Transit for the creation of a dedicated bus line, free to its
residents, that will operate 7-days per week, 360 days per year.
This natural setting will offer residents ample space for safety
and wellness and a connection to the outdoors all while still being
close enough to stay involved in campus and the downtown area.
Additionally, Trinitas has partnered with the City of Bloomington
to dedicate 45 single family lots to the city for the development
of workforce housing.
Equity financing has been provided by a joint venture between
Trinitas and Harrison Street – the eighteenth development and joint
venture for the partnership. “We are thrilled to continue our
strategic partnership with Harrison Street, allowing for this
investment and unique development project in the Bloomington
market”, stated Loren King, CEO of Trinitas. Construction financing
has been provided by Fifth Third Bank and First Merchants Bank.
“Fifth Third Bank is proud to partner with Trinitas to bring
accessible student housing to the IU Campus. This dedicated space
will further connect the students not only to the campus and city,
but to the health and wellness opportunities this space provides,”
shared Mike Ash, Regional President of Fifth Third Bank. The IU /
Bloomington market continues to be a strong and highly sought-after
investment market with consistent occupancy in the upper 90
percentile.
About Trinitas
Trinitas is an owner, investor, developer, builder and manager of
university-centric commercial real estate at major universities
throughout the US, specializing in student housing, multi-family
and mixed-use development. Trinitas currently owns and is
developing approximately $500 mm in student housing, multi-family
and mixed-use assets, with an additional $1 billion in its
development pipeline. The company is headquartered in Lafayette,
Indiana with office in Indianapolis and Chicago. Learn more about
Trinitas at www.trinitas.ventures.
About Harrison Street
Harrison Street is one of the leading investment management firms
exclusively focused on alternative real assets. Since inception in
2005, the firm has created a series of differentiated investment
solutions focused on demographic-driven, needs-based assets. The
firm has invested across senior housing, student housing,
healthcare delivery, life sciences and storage real estate as well
as social and utility infrastructure. Headquartered in Chicago with
an office in London, the firm has more than 185-employees and
approximately $30 billion in assets under management. Clients of
the firm include a global institutional investor base domiciled in
North America, Europe and Asia. Harrison Street has been awarded
Best Places to Work by Pensions & Investments for the last seven
consecutive years and was named 2019 North American Alternatives
Investor of the Year by PERE. For more information, please visit
www.harrisonst.com.
About First Merchants Corporation
First Merchants Corporation is the largest financial services
holding company located in Central Indiana. The corporation
provides customers with broad financial services delivered locally
by bankers who are known and trusted in their communities. First
Merchants offer personal banking, business banking,
mortgage lending, treasury management services,
and wealth management.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio and the indirect parent company
of Fifth Third Bank, National Association, a federally chartered
institution. As of Sept. 30, 2020, Fifth Third had $202 billion in
assets and operated 1,122 full-service banking centers and 2,414
ATMs with Fifth Third branding in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia,
North Carolina and South Carolina. In total, Fifth Third provides
its customers with access to approximately 52,000 fee-free ATMs
across the United States. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending
and Wealth & Asset Management. Fifth Third is among the largest
money managers in the Midwest and, as of Sept. 30, 2020, had $422
billion in assets under care, of which it managed $53 billion for
individuals, corporations and not-for-profit organizations through
its Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded
on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth
Third Bank was established in 1858. Deposit and Credit products are
offered by Fifth Third Bank, National Association. Member FDIC.
2020
December 31, 2020
20 Projects that will shape the region
Even in the middle of a pandemic,
developers and businesses remain bullish on the Greater Cincinnati
region.
While a number of projects were put on hold in 2020, many others
were announced to take their place. The Business Courier looked at
20 projects that will reshape the region, including five that will
have the greatest impact in 2021. We selected these projects not
just by size or dollar amount, but by the level of change they will
bring to the region.
Three of the projects are within the city of Cincinnati. But there
are a number of developments outside the region's largest city that
are expected to create long-lasting impact.
Cincinnati Children's Hospital plans major College Hill
expansion
Cincinnati Children's Hospital is making a $90 million move to
improve mental and behavioral health services for children and
teens in College Hill.
Construction on a 164,000-square-foot building at its facility at
5642 Hamilton Ave. is expected to begin by spring 2021. By the time
the project wraps us in late 2023 or early 2024, Cincinnati
Children's will be able to offer patients a larger suite of private
rooms and more therapeutic spaces for target treatment.
The new building will include inpatient and outpatient services.
All inpatient rooms will be private, said Dr. Joe Luria, vice
president of mental health operations at Cincinnati Children's.
Private rooms offer several advantages, including increased family
visitation and appropriate participation in care. When a patient
has a roommate, that's more difficult to do, Luria said. Private
rooms also provide patients a place to process through their acute
mental health crisis in addition to daily programming that
occurs.
This is the third addition since the facility opened in 2002.
Children's said the expansion will create new jobs, but it's still
too soon to say how many. About 500 employees currently work at the
College Hilll campus.
In February, Cincinnati Children's received its largest-ever
donation from the Convalescent Hospital for Children, a local
health care nonprofit, to cover a third of the project cost.
Officials plan to raise another $30 million while operating
revenues will cover the remainder.
Messer Construction has been hired as the project's general
contractor. GBBN Architects will handle the design.
The District at Clifton Heights to reshape neighborhood near
UC
One of the largest private investments in the city of Cincinnati
will play a big role in reshaping the neighborhood next to the
University of Cincinnati.
Trinitas Ventures and Crawford Hoying have formed a joint venture
to develop the District at Clifton Heights. Along both sides of
Straight Street just west of UC's Uptown campus, Trinitas and
Crawford Hoying plan to build more than 850 student housing beds,
over 150 hotel rooms, 170 senior housing units, up to 400
apartments, 30,000 square feet of commercial space and more than
600 new parking spaces. The total investment likely will be more
than $420 million.
The project replaces the former Deaconess Hospital, which closed
its emergency room nearly a decade ago. Trinitas purchased the
former hospital and additional property in fall 2017, initially
developing the Deacon, a student housing development with more than
1,000 beds.
When fully built out, the District could be home to about 3,200
residents. That's thousands of new customers for nearby bars and
restaurants, grocery stores, and other businesses in the area.
The developers are now working on drafting a development agreement
with the city of Cincinnati for public financing. They will then
need to receive approval for the next phase from the City Planning
Commission.
The goal is to begin construction on the next step by early summer
2021. The development team is expecting a full build-out of the
site by the end of 2025.
Former Norwood industrial site to become mixed-use Factory
52
It was just over a year ago that PLK communities acquired the
massive former U.S. Playing Card at 4590 Beech St. in Norwood and
since then it has unveiled a final design and a name for the
21-acre site: Factory 52. Construction is expected to start in
2021, with the first apartments opening in later in the year.
"During the demolition, we were able to keep the clock tower, the
original factory building, the original cafeteria, and the
smokestack. These will all be incorporated into the new
development," said Nick Lingenfelter, PLK's vice president of
development.
Plans for the $100 million mixed-use development's first phase
include 325 apartments, a brewery/taproom, parking garage, park
space, a food innovation hub with up to 18 vendors, retail and
amenities. The food hall is expected to help draw office
tenants.
The new, contemporary buildings will include masonry and metal, an
homage to the site's industrial history. An iconic clock tower will
remain as its own standalone building and a central point in the
development. It will have a viewing deck. The project's second and
third phases will include two office buildings along the highway,
an additional garage, and a 100,000-square-foot mixed-use building,
with development coming two to three years from now.
U.S. Playing Card left the property in 2009 for Boone County, and
the site has been vacant ever since.
MSA Design is the lead project architect, while HGC Construction is
the construction manager.
Uptown Properties planning $50 million residential project in
Mount Auburn
uptown Rental Properties is developing a $50 million residential
complex called Bigelow on the southern tip of Mount Auburn.
"This project is a further recognition of the need to connect
Uptown and downtown", said Dan Schimberg, president of Uptown
Rental Properties. "We recognized years ago that you can't connect
those two major employment centers without going through Mount
Auburn. It's the key to that connectivity."
Uptown is building Bigelow on 3.5 acres on Bigelow Street just
south of Dorchester Avenue, a few blocks from Christ Hospital. It's
one of the highest sites in Hamilton County and sits on a hilltop
that offers panoramic views.
"Imagine being on this hilltop and being able to look all the way
from Mount Adams to Mount Airy", Schmiberg said.
The development, due to be finished in 2023, will feature 185
units. It sits atop a parking garage, with 272 parking spaces
available. It will include a rooftop deck, pool, dog park, business
center and storage facility.
It's part of a bigger $100 million investment Uptown Rental
Properties has committed to make in the neighborhood.
"Mount Auburn is an exciting neighborhood and this development
leverages the assets, like amazing views, that make the
neighborhood so special," Schimberg said.
Nestle Purina pet food facility brings $550 million investment
ti Clermont
Nestle Purina Petcare Co. wasted no times following its October
announcements that it was constructing $550 million dry pet food
facility on 193 acres in Clermont County. The company had broken
ground within a month and construction is executed to ramp up in
2021 as the factory enters operation in 2023.
The Purina factory is expected to ramp up to a workforce of 300 by
the year after it opens, but company officials say they expect to
start hiring in 2022. Those jobs are expected to generate $12.5
million in new payroll, with an average hourly wage of $20.
The facility, which will take up 1.2 million square feet, 150,000
of which will be office space, is being built on land sold by the
Clermont County CIC In., a group created to foster economic
development for the region. The shovel-readiness of the site, how
they were able to break ground so quickly, was part of why Purina
chose it, REDI Cincinnati CEO Kimm Lauterbach said.
"Site availability is a crucial part of our five-year strategy for
the region and Purina's investment will serve as a prime example as
we look for other opportunities to prepare sites moving forward",
she said.
15 more signature projects
Liberty & Elm: An $80 million mixed-use development planned
at the intersection of Libertu and Elm streets in Over-the-Rhine.
Kean Ventures and Buckingham Cos. plan to build 306 apartments,
15,000 square feet of commercial space, making it one of the
largets private investments in the historic neighborhood. The
developers are looking to start on the project early in 2021.
Sam Adams Brewery expansion: Boston Beer Co. is investing
$85 million into expanding its brewery 1625 Central Parkway.
Already under construction, the project will include two new
canning lines and packaging equipment that will allow the brewer to
quadruple production locally adding more than 100 jobs. the entire
expansion is expected to be complete in mid-2021.
Court Street overhaul: The city of Cincinnati and 3CDC are
working on major changes to court Street, aiming to provide more
space for pedestrians, restaurants, activities and festivals. An
$8.8 million widening of sidewalks and creation of a pedestrian
promenade will be combined with 3CDC's $14 million Court Street
South project, creating 30 residential units and 15,000 square feet
of commercial space.
Ovation: With its music venue essentially complete, the next
phases of this massive, mixed-use development in Newport are
gearing up. The next pieces are a planned Homewood Suites hotel
with rooftop bar and an office building. both of these will be
built above the 550-car parking garage that was part of the
indoor/outdoor concert venue. The levee retaining wall also is
under construction, as Corporex looks to build a 2,500-space garage
that will serve as the platform for additional development.
Whiskey River Apartments: A long-planned luxury apartment
project from Flaherty & Collins Properties will add density to
downtown Lawrenceburg. The project will add 150 high-end apartments
to the banks of the Ohio River. Whiskey River is expected to bring
new residents with strong disposable income to the Indiana city.
The project is expected to create $25 million in economic impact.
Construction started in October.
Montgomery Quarter: A $150 million mixed-use development in
the heart of Montgomery, work is well underway on the first phase.
Neyer Properties, Brandicorp and Casto are partnering to bring
office, luxury apartments, high-end condos, restaurants and a
boutique hotel to the site. Work on garages started in December and
the roundabout that will lead into the project is expected to be
complete in spring 2021.
Liberty Flats: Casto plans to build 356 apartments next to
Liberty Center in Liberty Township. The developer is expected to
break ground on the project in spring 2021. liberty Township
officials have said the project is expected to bring new energy
into the adjacent Liberty Center, a retail and residential
mixed-use development that opened in 2015.
Gallery at Kenwood: Construction is well underway at Gallery
at Kenwood, a $150 million mixed-use development across from
Kenwood Towne Center. The 7-acre site will be home to 248 luxury
apartments, a 130-room hotel and two first-floor restaurants.
Capital Investments Group is behind this portion of the project,
with Clous Roads Partners planning to develop a 130,000-square-foot
office building as part of the project.
College Hill Station: Pennrose has started the redevelopment
of 7.5 acres along Hamilton Avenue and North Bend Road in College
Hill. The $30 million projects will include apartments,
street-level retail space and about 3 acres designed to become 33
single-family homes. the development is expected to help increase
walkability in the neighborhood and diversify housing options in
this part of Cincinnati.
Tapestry Ridge: Arlingtion Properties plans to redevelop the
38-acre former Northern Kentucky University Covington campus into a
267-unit luxury apartment community. Construction has started on
the project, which will offer unique views of Northern Kentucky and
Cincinnati. the development is expected to wrap up in the second
quarter of 2022.
Clocktower Apartments: Hills properties is working to bring
the Residences at Clocktower, a 326-unit apartment community, to a
piece of undeveloped land near West Chester township's the Square @
Union Center. Construction of the apartments is expected to take 24
to 27 months to complete, with the first residents moving in by
mid-2022.
Three Oaks: A $200 million residential development that will
include a mix of single-family homes, apartments and senior
housing. Neyer Properties is the master developer for this project,
which is replacing 30 acres of mostly vacant industrial buildings
with an extension of the Oakley neighborhood. Demolition is
complete and infrastructure is expected to start going in by March
2021. Construction of the apartments is expected to start in June,
with single-family homes following in August.
Saica Group North American facility: Ground was broken in
October on Saica Group's 350,000-square-foot plant in Hamilton.
This $72 million investment marks the Spanish company's expansion
into the U.S. market. Saica expects to create 64 jobs. The plant is
expected to be complete in early 2022.
One Highland: A$20 million luxury condominium and commercial
project in the heart of Fort Thomas. Greiwe Development Group and
partners North American Properties and Sibcy Cline broke ground on
the project early in 2020. The project includes 12,000 square feet
of commercial space topped with 18 condos. Residences will be
priced from $695,000 to $1.2 million. The grand opening is
scheduled for fall 2021.
Vega Americas HQ: Construction started near the end of 2020
on Vega Americas Inc.'s 230,000-square-foot campus in Mason. There,
the manufacturer of level and pressure measurement technology for
the processing industry will relocate its Americas headquarters in
Mason's Research & Development Park. The $50 million projects will
include a business and training center, as well as advanced
manufacturing and production facilities on 50 acres. The company
will move 217 employees from Oakley to Mason, with plans to add 50
more over five years.
October 30, 2020
A $420 MILLION BET ON CINCINNATI
Loren King had given up finding a
partner for his ambitious plan to remake the 5-acre former
Deaconess Hospital property near the University of Cincinnati in
Clifton Heights. For more than a year, King, CEO of Lafayette,
Ind.-developer Trinitas Ventures, had talked with some of the
nation’s best mixed-use developers to create a $420 million
mixed-use development that would blend student housing, retail,
apartments and a hotel. But King wasn’t able to find the right fit.
He decided Trinitas would itself act as lead master developer of
what would be known as the District at Clifton Heights. “We were
only going to do it if we thought it would improve the execution
and the overall quality of the project,” King said. Brent Crawford
and his partner, Bob Hoying, have focused on projects where they
have a chance to transform a market. The firm is known for its
Bridge Park development in Dublin, a mixed-use development that
will be a more than $700 million project when completed. It is
playing a pivotal role in reactivating downtown Dayton with its
Water Street District development. Crawford, principal and founder
of Crawford Hoying, said they’ve looked at deals every year in
Cincinnati for the past 10 years. “Either they weren’t large
enough, maybe the partnership wasn’t right, the product type wasn’t
right,” Crawford said. “We’ve been very patient waiting for the
right opportunity.”
After hitting it off, Trinitas and Crawford Hoying now form a 50-50
joint venture as the master developers of the District at Clifton
Heights. And this isn’t just any mixed-use project. Along both
sides of Straight Street just west of UC’s Uptown campus, Trinitas
and Crawford Hoying plan to build more than 850 student housing
beds, over 150 hotel rooms, 170 senior housing units, and up to 400
apartments, combined with about 30,000 square feet of commercial
space and more than 600 new parking spaces. The total investment
over the next five years likely will be more than $420 million.
News of the partnership and plans to move forward come when
economic recovery from the pandemic has slowed. September was the
third straight month of slowing job growth, according to the Labor
Department. Since February, Greater Cincinnati has lost 41,300 jobs
during the pandemic. The District at Clifton Heights should create
more than 800 permanent jobs. Construction alone would create 1,200
jobs. Trinitas and Crawford Hoying plowing ahead on the District is
another shot of confidence in Cincinnati’s rebound. In recent
weeks, developers have announced their intentions to move forward
on several large-scale developments, including Cincinnati Center
City Development Corp.’s $50 million redevelopment of the former
Macy’s store downtown and Kean Ventures and Buckingham Cos.’ $80
million mixed-use project at Liberty and Elm streets in
Over-the-Rhine. Only Cincinnati Children’s Hospital’s $650 million
Critical Care Building is larger than the District at Clifton
Heights in terms of the total amount invested. Before Cushman &
Wakefield started to search for various developers, King questioned
if now was the right time to move forward with the project. “We
wondered if there was an appetite, an ability to execute, given how
senior housing is being impacted by Covid-19,” King said. “We
wondered if we needed to change the use of the hospitality pad
since it was being so hammered by the change in travel behavior.”
The interest in both components of the project was so high that
Trinitas had the confidence to move forward. “Business owners,
including real estate developers, believe the impacts of Covid will
be short-lived,” King said. “You’re looking at what the economy and
what the environment are going to look like when the project
opens.” Crawford Hoying is one of those developers, like Uptown
Rental Properties, Corporex and Kean Ventures, which sees the slow
down as an opportunity. “It’s times like these when you’ve got to
be bold, a little bit; you can’t be afraid,” Crawford said. “This
isn’t opening next month. We want to be the ones opening in two
years and in three years. We think it’s the exact right time to
start developing.” Aaron Bartles, senior vice president of
development with Trinitas, said now is an ideal time to be moving
forward. “We’re bringing a transformation to the community that
will truly take shape over the next several years,” Bartles said.
The joint venture brings together two active, fully integrated
commercial real estate developers that completed hundreds of
millions of dollars in development in recent years (see sidebar,
page 6). Crawford said the two firms are very similar in work ethic
and culture on this a project of this size and scope. “You better
be able to get along well, you better be aligned in your belief
systems, how you should treat each other, and we knew we both felt
the same thing pretty much right away,” Crawford said. Trinitas’
and Crawford Hoying’s areas of expertise don’t overlap, which is
seen as crucial to King. They will self-perform the majority of the
build-out of the District at Clifton Heights between the two
firms.
Crawford Hoying is expected to do the work on the District’s
multifamily, retail and hotel portions. Trinitas will self-perform
on the student housing piece, and another partner is expected to be
selected to handle the senior housing component. “We’re both
committed to making the District be the transformational project
that Clifton Heights deserves,” King said. The developers are
working on plans to make the District a vibrant, mixed-use
destination that draws university students and others who may be
visiting the campus area. To achieve this goal, the team is looking
at ways to activate the street-level and curate the right mix of
commercial tenants. “You have to create the energy and the ‘there’
there that we talk about,” Crawford said. “That’s more than just
bricks, glass, stone. It’s the spaces that people interact in.”
Bartles said the mix of housing types and uses are critical to the
development. The streetscape will be accessible for cars, but it
will be designed to be pedestrian-friendly. The investment includes
about $40 million in public infrastructure improvements, including
streets, sidewalks, lighting and landscaping. “It’s the space
between the building that means a lot to us,” Bartles said. The
developers plan to put the hotel on the corner of Straight Street
and Clifton Avenue, across from UC. The next portion of student
housing will sit on the east side of Stratford Avenue, and the team
plans to build the apartments and senior housing on the south side
of Straight Street. When fully built out, the District could be
home to about 3,200 residents when complete. “That’s 3,000
customers of local bars and restaurants, grocery stores, businesses
in the area,” Bartles said. If Trinitas and Crawford Hoying
successfully make it a destination, the District will bring even
more people to the area. “This is not just about replacing a
long-vacant property,” Bartles said. “This is about bringing
economic vitality to local residents.” Bartles said all indications
from the last several years show Cincinnati will continue to be a
healthy place to invest over the next couple of years. Investments
by the university, local developers and out-of-state developers are
expected to continue. UC is investing more than $80 million for a
total renovation of one of its dorms, Calhoun Hall, with plans to
then renovate neighboring Siddall Hall. The university also is
building the $86 million Clifton Court Hall, a 180,000-square-foot
classroom building. Uptown Rental Properties and North American
Properties are building the Eden, a $30 million apartment
development with 207 units on the other side of campus. Plus,
Uptown recently started construction on two Short Vine buildings
with a total investment of $8 million.
The next phase of the District will start this fall with the
construction of a new Delta Delta Delta sorority house. This will
free up the property at 2609 Clifton Ave. for redevelopment.
Trinitas will then begin work on 850 beds of student housing,
adding to the more than 1,000 beds it has already developed at the
Deacon, the $120 million first phase of the development. The next
three to six months are critical for the District. The developers
are now working on drafting a development agreement with the city
of Cincinnati for public financing. They will then need to get
approval for the next phase from City Planning Commission with a
goal to start construction on the next step by early summer 2021.
The team is expecting a full build-out of the site by the end of
2025. Cincinnati City Councilmember P.G. Sittenfeld said this
project moving forward is a massive win for Cincinnati. In a year
that has included a pandemic, a recession, social unrest and a rise
in violence, the project is “exactly what the city needs,” he said.
“In what has been a brutal 2020, it’s a sign Cincinnati remains a
hot, desirable market,” Sittenfeld said. DSD Advisors LLC, the
government relations arm of Dinsmore, has been working with the
developers on community and government relations. For Crawford
Hoying, the District will be large enough for the firm to have
Cincinnati staff to help oversee the project. It gives the firm a
launching point to further expand into the market. Just as the firm
uses Bridge Park to show what it can do, Crawford said they want to
have the same result with the District. “The next time we go to do
something in Cincinnati, we won’t be an unknown ... we can point
and say we were part of the District at Clifton Heights,” Crawford
said. For King, he’s looking forward to seeing the incremental
improvements Crawford Hoying will make on Trinitas’ initial vision
and then comparing the completed development with what was on the
roughly 5 acres of land, including the long-dormant Deaconess
Hospital. “The contrast, I am confident, will be astounding,” he
said.
September 22, 2020
TRINITAS VENTURES ACHIEVES LEED GOLD CERTIFICATION
(Lafayette, IN, September 22,
2020) -- The Deacon, an off-campus housing development by Trinitas
Ventures located in Cincinnati, OH, has achieved LEED Gold
Certification by the U.S. Green Building Council. This LEED
certification recognizes The Deacon as being designed, built, and
operated as environmentally sustainable and a healthy space to work
and live.
LEED (Leadership in Energy
and Environmental Design) is the most widely used green building
rating system in the world, and a recognized symbol of
sustainability achievement and leadership. This third party
certification provides a framework for healthy, highly efficient,
and cost-saving green buildings. Mahesh Ramanujam, President and
CEO of U.S. Green Building Council sent a recognition letter to
Trinitas stating “Congratulations on earning LEED certification,
and thank you for your commitment to our common goal of building a
healthy, sustainable future”.
Built in 2019, The Deacon is a 1,029-bed, 12-story student housing
property adjacent to the University of Cincinnati, and whose goal
is to ensure that each student is more successful by having lived
there. This is a proud achievement for Trinitas Ventures who
focuses on the comfort, health and wellbeing for its residents,
staff, and the community.
About Trinitas
Trinitas is an owner, investor, developer, builder and manager of
university-centric commercial real estate at major universities
throughout the US, specializing in student housing, multi-family
and mixed-use development. Trinitas currently owns and is
developing approximately $500 mm in student housing, multi-family
and mixed-use assets, with an additional $1 billion in its
development pipeline. The company is headquartered in Lafayette,
Indiana with offices in Indianapolis and Chicago. Learn more about
Trinitas at www.trinitas.ventures.
June 24, 2020
TRINITAS VENTURES CLOSES ON SALE OF PARTNERSHIP INTEREST IN CHAUNCEY HILL MALL
(Lafayette, IN, June 24, 2020) --
Trinitas, a premier owner, investor, developer, builder and manager
of high-quality university-centric commercial real estate, today
announced it has closed on the sale of its partnership interest in
the ownership entity of Chauncey Hill Mall and Chauncey Hill Annex
to a venture led by Marc Muinzer..
“The sale today is bittersweet. We have been blessed with
outstanding investment and development opportunities throughout the
U.S. and today’s closing will enable Trinitas to focus on those. We
acquired our partnership interest in the mall nearly seven years
ago and have dreamed about its potential transformational
redevelopment for over a decade. We love West Lafayette and Purdue
University and we believe the future of the mall will be an asset
for our community,” said Loren King, CEO of Trinitas.
Aaron Bartels, senior vice president of mixed-use development for
Trinitas, added, “We believe that Marc Muinzer and his team are the
right group to realize the potential for Chauncey Hill Mall and
Chauncey Hill Annex. They have an outstanding track record of
success in our community. We are confident that we have sold our
interest to a group that is both invested in and cares about our
community.”
About Trinitas
Trinitas is a fully integrated real estate company that invests in,
develops, constructs, and manages high quality, university-centric
commercial real estate throughout the United States with a focus on
mixed-use and student housing. The privately held real estate
development company has nearly $1 billion in student and mixed-use
assets under development. Trinitas is headquartered in Lafayette,
Indiana, with offices in Chicago and Indianapolis. Learn more about
Trinitas Ventures at www.trinitas.ventures.
March 12, 2020
Cushman & Wakefield Selected as Exclusive Advisors for The District at Clifton Heights
Will oversee sale of multiple
development opportunities as part of five-acre mixed-use
project
Trinitas Development has selected Cushman & Wakefield as exclusive
advisors for its mixed-use development, The District at Clifton
Heights in Cincinnati. The $425 million project, located adjacent
to University of Cincinnati, will assemble market-rate and
age-restricted housing, ground-floor retail space, and a hotel on
the five-acre site. Trinitas also plans to build a second phase of
student housing totaling more than 800 beds. Cushman will serve as
advisor as Trinitas looks to develop partnerships on individual
elements of the overall program.
Cushman & Wakefield’s.Midwest Multifamily Advisory Group has
been selected by Trinitas Development as exclusive advisors on the
sale of multiple development opportunities that are part of the
mixed-use project. The community will include multifamily housing,
approximately 60,000 square feet of retail space, and a hotel, to
complement The Deacon, a 1,000-person student housing complex that
opened in August 2019.
The Cushman & Wakefield execution team includes capital markets
experts specializing in the multifamily, senior housing and
hospitality sectors, both from the company’s Chicago global
headquarters and local Cincinnati office. Chicago-based brokers
include Todd Stofflet, managing director, Jason Stevens, managing
director, and Brad Smith, associate.
“Once completed, The District will become a destination for
Cincinnati residents and visitors alike and will have a significant
economic impact on the community as a whole,” said Stofflet. “Each
component of this development brings a unique investment
opportunity for the right buyer or buyers, who will become partners
in transforming this diverse and active artery of the city.”
Situated on five-acres of entitled development along Calhoun St. in
Clifton, on the former site of Deaconess Hospital, the next phase
of development is set to begin construction later this year, with
an expected completion date in the summer of 2023.
February 6, 2020
TRINITAS VENTURES STARTS DEVELOPMENT NEAR THE UNIVERSITY OF MICHIGAN
Lafayette, Indiana
Trinitas Ventures LLC (“Trinitas”), a premier owner, investor,
developer and builder of student housing, multi-family and
mixed-use communities, announced it has closed on the acquisition
of the property located at 2601 Pontiac Trail, Ann Arbor, Michigan,
near the University of Michigan. The company plans to develop The
One, a cottage-style housing development located north of the
University of Michigan’s main campus.
The 682-bed development will feature cottage-style duplexes,
townhomes and stand-alone buildings comprised of one-, two-,
three-, four- and five-bedroom units. The One will be the first
cottage-style product of its kind in the market and will offer
top-quality amenities including a large indoor/outdoor fitness
center, business center, game room, resort-style pool, fire pit,
private study lounges, basketball and volleyball courts, and
shuttle service to campus. All units will feature the latest
amenities. The approximately 32 acres will offer onsite parking,
bike storage, bike trail connectivity and nearly 10 acres of open
woodlands with walking paths. Equity financing is provided by a
Trinitas managed investment entity, and construction financing is
provided by PNC Bank. “We are excited to enter the Ann Arbor market
and to continue our relationship with PNC Bank,” stated Loren King,
Chief Executive Officer of Trinitas. “PNC and Trinitas have a long
and successful history, and we are thrilled to start another
project with them.”
About Trinitas
Trinitas is an owner, investor, developer, builder and manager of
university-centric commercial real estate at major universities
throughout the US, specializing in student housing, multi-family
and mixed-use development. Trinitas currently owns and is
developing approximately $500 mm in student housing, multi-family
and mixed-use assets, with an additional $1 billion in its
development pipeline. The company is headquartered in Lafayette,
Indiana with offices in Indianapolis and Chicago. Learn more about
Trinitas at www.trinitas.ventures.
About PNC
PNC Bank, National Association, is a member of The PNC Financial
Services Group, Inc. (NYSE: PNC). PNC is one of the largest
diversified financial services institutions in the United States,
organized around its customers and communities for strong
relationships and local delivery of retail and business banking
including a full range of lending products; specialized services
for corporations and government entities, including corporate
banking, real estate finance and asset-based lending; wealth
management and asset management. For information about PNC, visit
www.pnc.com.
2019
December 20, 2019
Trinitas Ventures closes on property for new development near Arizona State University
Lafayette, Ind.
Trinitas Ventures LLC (“Trinitas”), a premier owner, investor,
developer and builder of student housing, multi-family and
mixed-use communities, announced today that it has closed on the
acquisition of the property located at 707 S. Forest Avenue, Tempe,
Arizona, near Arizona State University (“ASU”). The company plans
to develop a high-rise multi-family housing and retail development
located immediately northwest of ASU’s main campus and within
walking distance of shopping, dining and ASU’s athletics
facilities.
The 530 bed, campus adjacent development will feature urban style
apartments comprised of studio, one-, two-, three- and four-bedroom
units. The centrally located project will feature street level
retail with structured parking on floors 2 through 5 and
residential units on floors 6 through 19. The 20th floor will
feature resident amenities including pool, fitness, and
collaboration spaces, and the rooftop will feature an open air
skydeck. Given the site’s proximity to downtown, Mill Avenue and
the ASU campus, the project will provide a style of living that
appeals to a broad range of residents who desire a centrally
located and walkable lifestyle.
Equity financing has been provided by a joint venture between
Trinitas and Harrison Street, a leading investment management firm
exclusively focused on the Education, Healthcare and Storage
Sectors. The project represents the seventeenth development for the
Trinitas/Harrison Street partnership and the seventeenth joint
venture. Justin Gronlie, Director and Head of Education Real Estate
at Harrison Street stated, “We are excited to continue our
relationship and invest in another development with Trinitas. The
Arizona State area has a strong housing market which will benefit
from Trinitas’ development and operational expertise, and this
project is well positioned to thrive in the market.”
Construction financing has been provided by PNC Bank. “We are
pleased to continue our relationships with Harrison Street and
PNC,” stated Loren King, Chief Executive Officer of Trinitas. “Our
strategic partnerships with both Harrison Street and PNC have been
very successful in the past and enabled us to quickly close on this
exciting opportunity and hit the ground running for a 2021
opening.”
About Trinitas
Trinitas is an owner, investor, developer, builder and manager of
university-centric commercial real estate at major universities
throughout the US, specializing in student housing, multi-family
and mixed-use development. Trinitas currently owns and is
developing approximately $500 mm in student housing, multi-family
and mixed-use assets, with an additional $1 billion in its
development pipeline. The company is headquartered in Lafayette,
Indiana with office in Indianapolis and Chicago. Learn more about
Trinitas at www.trinitas.ventures.
About Harrison Street Real Estate Capital, LLC
Harrison Street is one of the leading investment management firms
exclusively focused on alternative real assets. Since inception in
2005, the firm has created a series of differentiated investment
solutions focused on demographic-driven, needs-based assets. The
firm has invested across senior housing, student housing,
healthcare delivery, life sciences and storage real estate as well
as social and utility infrastructure. Headquartered in Chicago with
an office in London, the firm has more than 150-employees and
approximately $22.9 billion in assets under management. Clients of
the firm include a global institutional investor base domiciled in
North America, Europe and Asia. For more information, please visit
www.harrisonst.com.
About PNC
PNC Bank, National Association, is a member of The PNC Financial
Services Group, Inc. (NYSE: PNC). PNC is one of the largest
diversified financial services institutions in the United States,
organized around its customers and communities for strong
relationships and local delivery of retail and business banking
including a full range of lending products; specialized services
for corporations and government entities, including corporate
banking, real estate finance and asset-based lending; wealth
management and asset management. For information about PNC, visit
www.pnc.com.
August 21, 2019
Take a look inside the $120M Deacon project near UC
One of the largest development
projects in Greater Cincinnati is wrapping up construction and
welcoming its first residents.
The Deacon, an estimated $120 million multifamily housing project
near the University of Cincinnati, is adding 351 units with more
than 1,000 beds to the CUF neighborhood. Trinitas Ventures, an
owner, investor, developer, builder and manager of commercial real
estate developed the Deacon.
Eli Routh, vice president of property operations for Trinitas, said
the Deacon has received a great response from residents. About 880
of the building’s beds have been leased, including 400 that were
leased to UC for student housing.
"We want this to be one of the best projects in Cincinnati," Routh
told me.
Rental rates range at the Deacon based on whether you’re looking to
live on your own or with roommates. Monthly rent starts at $1,004
for studios or $1,179 for one-bedroom, one-bathroom units. For
four-bedroom, four-bathroom units monthly rent starts at $819.
The monthly rent includes cable and internet as well as trash,
sewage, water and all of the property’s amenities. The apartments
come furnished, complete with 48-inch TVs, granite counters, 9-foot
ceilings, and full-size washers and dryers.
Amenities at the Deacon include a dog park and pet wash station, a
jam lounge and music practice room, a resort-style pool and sun
deck, TV & gaming areas, a hammock lounge, and outdoor grilling
stations and fire pits. The building also offers unique views of
the city. Many of the units have interior balconies overlooking the
pool and sun deck.
While the flashier amenities, such as the large outdoor pool or the
golf simulator and putting green, might get a lot of attention,
Trinitas also devoted space for residents to focus on scholastics.
There is a business center with 12 computers, six Macs and six PCs,
as well as four study rooms on the amenity level. In addition,
there is a study room on each level for a total of 18 throughout
the property.
“Study space is becoming more and more popular,” Routh said. “We
felt this amount was appropriate for the number of residents.”
While the last pieces of construction wrap up on the Deacon,
Trinitas is working on plans for the former Deaconess Hospital
property across the street. There, it is planning The District, a
mixed-use apartment-hotel-retail project that would be part of an
overall $300 million development.
“We want this to be a benefit for the community, for the
university,” Routh said. “We want to help produce further
development.”
August 9, 2019
What’s next for Cincinnati’s second-largest development?
With Cincinnati City Council’s
rezoning of 12 acres of land where the former Deaconness Hospital
once stood, the second-largest real estate project being built in
the city moves to a new phase.
Trinitas Ventures plans The District, a mixed-use
apartment-hotelretail project as a part of an overall $300 million
project. It ranks only behind Cincinnati Children’s Hospital
Medical Center’s $650 million expansion in terms of large projects
being built in the city.
Trinitas has spent the last year talking with Uptown neighborhood
leaders about what they would like the project to look like. Now,
it has to craft a final design for the development and bring it to
the Cincinnati Planning Commission for approval.
“This is the culmination of the last year of public engagement with
the community,” said Aaron Bartels, senior vice president of
development for the Lafayette, Ind.-based company. “This is the
first step toward moving ahead with those plans.”
Large real estate projects, particularly those in Uptown, often
cause heartburn in the communities there, but Trinitas has won
praise from stakeholders for considering their input.
“You have done community engagement the right way,” Councilman P.G.
Sittenfeld told the developers on Wednesday.
The Deacon student housing project, with 351 units, already has
opened just north of where the hospital stood.
Trinitas hopes to finish any financing request from the city and
present a final development plan by early 2020, with construction
on the next phase to start in June. It's also working with the
Clifton Heights-University Heights-Fairview (CUF) neighborhood on
an overall parking plan.
The zoning changes approved Wednesday convert the parcels between
Clifton Avenue, Herman Street, University Court and the Stratford
Heights student apartments to a planned development. The project
will include:
• 1,050 additional housing units, including 450 student
residences
• A 30-bed sorority house
• A 170-room hotel
• 325,000 square feet of retail and commercial space.
The development is expected to have 1,780 parking spaces with a
residential tower rising 275 feet high. CUF residents have said
they want to see market-rate residential units aimed at people
other than students.
July 22, 2019
Panel approves zoning for massive new Uptown development
The Cincinnati Planning Commission
approved the needed zoning changes for one of the largest new
developments in the region on Friday, a $300 million, 12-acre
apartment-hotel-retail project at the site where the former
Deaconess Hospital once stood.
Commissioners rezoned the property, which sits between Clifton
Avenue, Herman Street, University Court and the Stratford Heights
student apartments, to a planned development. The property sits in
the Clifton Heights-University Heights-Fairview (CUF)
neighborhood.
The developer, Trinitas Ventures, already has completed
construction on the Deacon, a student housing project with 351
housing units just north of the hospital. It will open in time for
the coming University of Cincinnati school year. It is 85 percent
leased, with only 40 percent of the residents bringing their cars,
according to Trinitas officials.
Trinitas already has purchased the 61 parcels needed for the rest
of the site. The two-phase development will include:
• 1,050 additional units, including 450 student residences.
• A 30-bed sorority house
• A 170-room hotel
• 325,000 square feet of retail and commercial space
Trinitas will have to return to the planning commission to get
approval for its final development plan. One building will be a
tower that can rise no higher than 160 feet.
One concern that has come up as Trinitas has engaged with
neighborhood leaders is parking, which can be at a premium,
particularly in sections of the neighborhood where single-family
homes have been converted to rentals and students bring cars.
Trinitas plans to build 1,780 spaces in the development. It also
plans an analysis to figure out ways to improve parking in the
neighborhood.
“The petitioner pledged to work with the neighborhood to assist in
addressing the parking pressures of the neighborhood,” the city
planning staff report said. The project is expected to maximize
sidewalk widths to achieve a “great street” environment. But the
city’s transportation department has yet to decide how many
vehicular traffic lanes will be required on the department’s main
east-west street, Straight Street.
The tallest structure is expected to be a residential tower with a
maximum building height of 275 feet. Neighborhood residents want to
capitalize on the views of downtown available from a building that
tall to attract market-rate residential units that won’t be used by
students, according to the city’s report.
“When members of the community mentioned the opportunity of the
views as attracting folks to live here we took them at their
world,” said architect Neal Payton.
The commission’s vote was unanimous in favor of the zoning change.
Commissioner Anne Sesler said the project will bring much-needed
modern, up-to-date housing to CUF.
“There’s a huge demand for safe student housing,” Sesler said.
March 29, 2019
Trinitas Ventures Receives Four American Advertising Awards
Lafayette, IN; Trinitas, a premier
owner, investor, developer, builder and manager of exceptional
commercial real estate today announced that it has received
four, prestigious American Advertising Awards. The Awards, which
recognize and reward the creative spirit of excellence in
advertising, are one of the advertising industry’s largest creative
competitions, attracting nearly 35,000 professionals each year.
Two gold awards, one silver and the Rising Star award were
presented to the Trinitas marketing team on March 7, 2019. A gold
award, which recognizes the highest level of creative excellence,
was awarded to Trinitas for its redesigned corporate website as
well as their integrated brand identity campaign for the company’s
internal education curriculum, RISE. Trinitas also won silver in
the brochure category for their FitLife program which promotes the
health and wellness of students. In addition, Trinitas’ graphic
designer, Sarah Thoma, received the competition’s Rising Star award
given to one person each year in recognition of his or her
outstanding career achievement and philanthropic service to the
community.
About Trinitas
Trinitas is a fully integrated real estate company that invests in,
develops, constructs and manages high quality, university-centric
commercial real estate throughout the United States. The privately
held real estate development company is currently developing over
$535 million in assets. Trinitas is headquartered in Lafayette,
Indiana, with offices in Chicago and Indianapolis. Learn more about
Trinitas Ventures at .
About AAF
Established in 1905, the American Advertising Federation (AAF),
acts as the "Unifying Voice for Advertising." Its membership is
comprised of nearly 100 corporate members made up of the nation’s
leading advertisers, agencies, and media companies; a national
network of nearly 200 local clubs representing 40,000 advertising
professionals; and more than 200 college chapters with 5,000
student members.
2018
December 12, 2018
Developer will bury former hospital to make way for $300 million project
After receiving input from the
community, the developer of the former Deaconess Hospital property
in Clifton Heights is preparing to move forward with redevelopment
of the more than 5-acre site.
Trinitas Ventures, which purchased the former hospital properties
in October 2017 for $27 million, is well underway on the first
phase of its development, the Deacon. This 11-story student housing
community will have more than 1,000 beds in studios, one-, two-,
three- and four-bedroom apartments. The more than $108 million
project sits just north of the former hospital.
Trinitas is turning its attention the south side of Straight
Street. After spending a large portion of the year gathering input
from the community, the developer is ready to start a planned $300
million redevelopment of the former hospital into a large,
multi-phase, mixed-use project.
Aaron Bartles, senior vice president of development for Trinitas,
said when the Lafayette, Ind.-based firm purchased the property it
was focused on adding student housing. But Trinitas knew the
in-fill opportunity next to the University of Cincinnati was for
more than just student housing.
“This is a phenomenal opportunity to bring in a mix of uses and
activate this area for UC and Clifton Heights,” Bartles told me.
“This is an opportunity that doesn’t come around very often.”
Trinitas has taken the information from design charettes and
additional feedback from the surrounding community to update its
plans for the site. Initially, the developer had planned 180 hotel
rooms, 750 housing units, 100,000 square feet of office space and
100,000 square feet of retail space for the District at Clifton
Heights. That plan has changed since August, with 850 residential
units planned and possibly no or only a small amount of office
space.
Now, Trinitas is moving ahead with planning for public finance,
working with the city on the overall development plan for the
property, moving ahead with the entitlement process, and beginning
demolition of the former hospital and other buildings on the
site.
“The next big push you’ll see on the site will be mobilizing to
begin demolition,” Bartles said.
Trinitas selected Indianapolis-based Renascent Inc. to demolish
roughly 700,000 square feet of existing space. Bartles said the
demolition of the building along is a multimillion-dollar
contract.
An innovative solution to bringing down the building is to use five
levels of basement under the hospital to bury the building as they
tear it down. The material will be crushed and ground to fill in
that space. Bartles said this will prevent Renascent from having to
truck about 1,500 loads of material off the site.
Interior demolition and remediation is expected to begin soon, with
heavy demolition beginning in early 2019. The demolition itself is
expected to be a three-phase process. Bartles said the plan is to
have the site cleared by early summer 2019.
Interior demolition and remediation is expected to begin soon, with
heavy demolition beginning in early 2019. The demolition itself is
expected to be a three-phase process. Bartles said the plan is to
have the site cleared by early summer 2019.
At the same time, Trinitas will be working with the city on a site
review for the project. The plan is to have a planned development
with each component going back for final review and permitting.
This will allow the project to be flexible in terms of uses.
“We have to have the ability to evolve and grow over time,” Bartles
said.
Right now, Trinitas is looking at a mixed-use development that
includes:
A 23-story high-rise residential tower.
About 100,000 square feet of ground floor retail.
Additional student housing.
Multifamily housing, including potentially market-rate rentals,
for-sale product and senior housing.
About 800 parking spaces.
A hotel at the corner of Straight Street and Clifton Avenue.
Place making that connects the area to Calhoun and McMillan
streets.
In total, Trinitas is planning a development, not including parking
space, that will be close to 1 million square feet. The total
investment is expected to be about $300 million. The increase in
value of the real estate is expected to generate close to $4
million annually in taxes, Bartles said.
Trinitas has selected Torti Gallas + Partners, a Washington,
D.C.-based architecture firm, as master planner, as well as
Chicago-based Antunovich Associates as architect for the project.
MKSK is working as the landscape architect on the project, helping
with the overall place making. Bayer Becker is the local civil
engineer on the development. Trinitas also is working with DSD
Advisors LLC, the government relations arm of the Dinsmore & Shohl
law firm, on the project.
Bartles said the plan is to be under construction on portions of
the next phase in 2019, with the balance of the site expected to
take three to five years to complete.
September 12, 2018
Multiuse redevelopment planned for former eastside Kmart property
A Lafayette-based real estate
development company plans to bring residential, commercial, retail
and office space and more to Bloomington's former eastside Kmart
and the surrounding area.
The company, Trinitas Ventures, has yet to file any paperwork with
the city's Planning and Transportation Department. City
Communications Director Yael Ksander confirmed Monday that the
mayor's office has discussed with the company plans for a 12-acre
parcel on East Third Street, which also includes Bloomingfoods'
eastside location, at 3220 E. Third St.
In summer 2016, the 95,000-square-foot Kmart at 3216 E. Third St.
closed. Bloomingfoods leadership announced earlier this year its
intent to either move or close the co-operative grocery on that
property when its lease ends in 2020.
According to a news release from the company, Trinitas Ventures
plans to seek public input this summer before planning and
completing phase one of the project in 2021.
Aaron Bartels, senior vice president of mixed-use development for
Trinitas Ventures, compared the project to a more intensive version
of the Renwick neighborhood on Bloomington's southeast side.
Although it's in the early stages, Bartels said the project would
have a heavy pedestrian focus while still providing plenty of
parking.
Pending a market study, Bartels said the development would likely
serve a mixed-tenure ownership ranging from professionals, to
seniors aging in place, to students.
"It’s really about the balance, more than anything," Bartels said.
"We envision this being a very public, collaborative process that
involves all of our neighbors and stakeholders."
The company already has a footprint in Bloomington. Trinitas
Ventures lists two student housing developments on the city's west
side in its online portfolio: the Village at Muller Park and
Collegiate on Patterson, also known as the Dillon.
According to the Trinitas Ventures website, the Village at Muller
Park is a 668-bed, 248-unit student housing complex made up of
apartments and townhomes. That property offers one- to four-bedroom
apartments, a pool and outdoor area, and two fitness centers with a
combined total of more than 4,000 square feet. Similarly, the
Dillon is a 635-bed, 204-unit student complex with houses,
townhomes and apartments. That property features a heated pool and
hot tub, basketball court and 6,000-square-foot clubhouse with a
fitness center, computer cafe and study lounges.
Bartels said it's early in the planning process, and premature to
rule out any possibilities.
Ksander said the city is excited about the proposal, but stressed
it's early in the process. Trinitas Ventures has not yet obtained
the permissions it would need to construct a mixed-use development
on the property. Ksander added that the city plans to work with
Trinitas Ventures on a concept that fits within the context of the
city.
Bartels said rather than purchasing the property, Trinitas Ventures
plans to enter into a long-term partnership with the property
owner. That owner, according to Monroe County's geographic
information system, is Latimer Farms Real Estate LLC.
July 10, 2018
Lafayette-based developers this week turn over part of the design process for the Chauncey Hill Mall property at the top of State Street Hill to West Lafayette and Purdue.
WEST LAFAYETTE, Ind. – Lined up
Monday evening with the tables where architects were sketching
potential layouts on West Lafayette’s Chauncey Hill Mall were
promises that there’d be a good idea by the end of the week for
what’s next for the strip mall property that has been a fixture
near Purdue University since 1979.
Loren King – CEO of Trinitas Ventures, the Lafayette firm preparing
to redevelop the 3-acre property at State Street and Chauncey
Avenue – opened five days of public sessions with a plea to those
gathered in a vacant storefront that until recently house a
University Spirit apparel shop.
“What you want to see is more important to us than what you don’t
want to see,” King said. “This is going to be a project that
affects the community for decades and decades and decades to come.
We get to do it once. … That’s why we have a weeklong process.” The
Lafayette firm, at the time, promised a deliberate process,
including the unconventional step of inviting students, Purdue
staff and West Side residents in for five days of drop-in design
studio workshops and presentations to get ideas for the property
two blocks from campus. (Trinitas will hold a similar set of
sessions in Bloomington later in July for a planned redevelopment
of a former Kmart property.) By Friday, the architects and planning
firms brought in by Trinitas hope to have a “preferred scheme” of
the District at Chauncey Hill ready to show, said Neal Payton, an
architect with Torti Gallas + Partners, a firm based in Los
Angeles.
Here were a few takeaways from Monday’s opener.
► How tall will it be? Architects and developers wouldn’t say,
exactly. But it’s clear that they know they are working under
Federal Aviation Administration guidelines for the flight path to
the Purdue Airport, roughly two miles to the west. (Developers of
the Rise at Chauncey, going up just across Chauncey Avenue, had to
scale back when the FAA ruled that initial plans were too tall.)
Aaron Bartels, senior vice president for development at Trinitas,
said the firm hoped to build underground parking to maximum space
up high. Payton wouldn’t commit to a number of stories and wouldn’t
say Trinitas would take the full 149 feet available under FAA
standards, but that plans likely would mean building tall.
► What will it look like? That was up in the air, Payton said. He
and other architects were looking at surrounding buildings,
including a historic bank structure at State and Northwestern
designed by architect Louis Sullivan for his “Jewel Box” series,
for inspiration.
“How do we honor that building?” Payton asked. “We don’t know how,
yet, but we know we want to do that somehow.”
He also said the designs would likely bring buildings closer to
State Street than they are in the L-shaped Chauncey Hill Mall
buildings that frame a surface parking lot.
► What is the target market? Bartels said that with housing aimed
at something other than the student market, office space and a
hotel, the idea was to create a District at Chauncey Hill that
wasn’t focused solely on campus. He called the property “not just a
campus gateway, but a community gateway.”
“We see there is a deeper market,” Bartels said. “Part of this is
to change that perception.”
► What about local businesses? Chris Sharp, a Purdue alum living in
Lafayette, said that no matter how Chauncey Hill Mall looked,
“there is an essence to it.” How, she asked, would developers
assure that local flavor wouldn’t be lost? Bartels said Trinitas
hoped to find a balance between local and national retailers. He
said Trinitas would like to have back as many Chauncey Hill Mall
businesses as “economically feasible.”
Sixteen businesses remain in Chauncey Hill Mall, with no specific
timetable for them to leave or for a groundbreaking on the District
at Chauncey Hill. Erik Carlson, West Lafayette development
director, has said the city is prepared to help merchants — some of
which have been in Chauncey Hill Mall for two and three decades —
find new homes or temporary homes when the strip mall is demolished
next year.
► What can you do? There will be design studio workshops, open to
the public, 8 a.m.-8 p.m. Tuesday and Thursday, and 8 a.m.-5 p.m.
Wednesday and Friday at the former University Spirit store at 135
S. Chauncey Ave. Presentations on the progress will be 6-8 p.m.
Wednesday and Friday. To submit written suggestions, go to
courb.co/Chauncey.
July 3, 2018
TRINITAS BREAKS GROUND ON FIRST-EVER COTTAGE COMMUNITY IN LAWRENCE
LAFAYETTE, IN (July 3 2018)
Trinitas, a premier owner, investor, developer, builder and manager
of exceptional commercial real estate recently broke ground on a
student housing project located in Lawrence. The Nest by Trinitas,
a 270-unit, 784-bed property is located on 33.69 acres of land at
1601 West 33rd Street and will feature cottage-style, two-story
duplexes and three-story townhomes. Pet-friendly, fully finished
units will feature private bedroom suites, granite countertops,
hardwood-style flooring and stainless-steel appliances along with
walk-in closets, a full size washer and dryers and a 48” TV.
The first-ever cottage community in Lawrence, designed by KJG
Architecture, Inc. and financed by Associated Bank, is anticipated
to open in fall 2019. It will boast 13,000 square-feet of amenity
space including five acres of natural green space, an indoor
basketball court, resort-style pool and hot tub, 24-hour fitness
center with a yoga and spin studio, private study lounges, computer
café and private shuttles to campus.
“The Nest will introduce the residents of Lawrence to a unique
product type featuring best-in-class finishes and luxury amenities
not currently offered in the market,” said Brad Bennet, Vice
President of Development. “We have put extensive time and research
into tailoring this community specifically to the Kansas student.
The property’s unique floorplans, expansive outdoor spaces, and
neighborhood vibe will provide an ideal setting for any resident to
call home.”
Trinitas is a fully integrated real estate company that invests in,
develops, constructs and manages high quality, university-centric
commercial real estate throughout the United States. The privately
held real estate development company is currently developing over
$535 million in assets. Trinitas is headquartered in Lafayette,
Indiana, with offices in Chicago and Indianapolis. Learn more about
Trinitas Ventures at www.trinitas.ventures.
may 17, 2018
Developer seeking community input for Deaconess Hospital redevelopment
The commercial real estate
developer that purchased the former Deaconess Hospital next to the
University of Cincinnati is looking to start a collaborative
planning process for the building this summer.
Trinitas Ventures, an owner, investor, developer, builder and
manager of commercial real estate, purchased the 5.8-acre parcel at
311 Straight St. in September 2017 for $27 million. Last year, it
started construction on the first phase of redevelopment, the
Deacon, a student housing development on the northeast corner of
Straight Street and University Court. This $108 million project
wraps around an existing parking garage and fills what was mostly
vacant property.
The collaborative process will focus on the redevelopment of the
former hospital itself, which ended inpatient services in 2011. The
process will begin with community outreach and stakeholder
interviews in June. Those groups also will be invited to
participate in a charrette, a design and planning session, in late
July.
Aaron Bartles, senior vice president of development at Trinitas
Ventures, will lead the Deaconess Hospital project. He said the
redevelopment of the property will be tailored to fit the needs of
the surrounding neighborhoods.
“It will be an active, mixed-use development consistant and
appropriate with the development going on around the university,”
Bartles told me.
At this point Trinitas is still determining what, if any, of the
existing buildings would remain. Bartles said the plan for the
property could include a mix of hotel, street-level retail, office
and residential space.
He said Straight Street is an active pedestrian area and the
redevelopment would capitalize on that, with lively outdoor
seating.
Once the charette is complete, Bartles said he hopes to have plan
for the property ready immediately.
Trinitas has selected Torti Gallas + Partners, a Washington,
D.C.-based architecture firm, as master planner, as well as
Chicago-based Antunovich Associates as architect for the project.
The project team also includes Hoffman Strategy Group, providing
market analysis, and a5 Branding and Digital, providing engagement
and communications.
Trinitas is headquartered in Lafayette, Ind., with offices in
Chicago and Indianapolis. The privately held real estate
development company is currently developing more than $535 million
in assets.
may 16, 2018
TRINITAS VENTURES TO BEGIN COLLABORATIVE PLANNING PROCESS OF MULTI-PHASE DEVELOPMENT NEAR UNIVERSITY OF CINCINNATI CAMPUS
Public Engagement Process To Take
Place This Summer For Former Deaconess Hospital Site
Lafayette, IN -- Trinitas Ventures, a premier owner, investor,
developer, builder and manager of high-quality commercial real
estate, announced today that it would begin a collaborative
planning process this summer to develop the former Deaconess
Hospital in Cincinnati, Ohio. Adjacent to the University of
Cincinnati, the 5.8-acre parcel on the corner of Clifton Avenue and
Straight Street is a prime mixed-use redevelopment opportunity.
Trinitas purchased the site in 2017 and began construction last
year on “The Deacon,” a student housing development on the
northeast corner of Straight Street and University Court on land
that was predominantly vacant for years. This first phase of the
overall development is designed for the student market associated
with the University of Cincinnati. The collaborative process will
focus on the redevelopment of the long-shuttered Deaconess Hospital
site and will begin with community outreach and stakeholder
interviews in June. The community will be invited to participate in
a charrette in late July and provide input on the project
throughout the summer.
Aaron Bartels, Senior Vice President, Development, at Trinitas
Ventures will lead the Deaconess Hospital project. He directs
mixed-use development for Trinitas and brings to the project more
than 20 years of experience in planning, design, development,
leasing and asset management of large-scale, mixed-use
communities.
“This dynamic development will be tailored to the needs of the
vibrant neighborhoods that surround the University of Cincinnati,”
Bartels said. “We look forward to collaborating with the community
on this important project to reinvigorate the site and create a
strong sense of place and a destination this neighborhood
deserves.”
The project's first phase, The Deacon, is a 351-unit
off-campus student housing community adjacent to the University of
Cincinnati (UC). The community will be comprised of studios, one,
two, three and four-bedroom units, each supporting one-to-one
bed-to-bath parity with custom-tailored amenities selected with the
UC student in mind. The first phase will cost $108 million
and be complete August 2019.
Trinitas has selected Torti Gallas + Partners as master planner and
Antunovich Associates as architect for the project. The project
team includes Hoffman Strategy Group (market analysis) and a5
Branding and Digital (engagement/communications).
may 14, 2018
TRINITAS TO REDEVELOP CHAUNCEY HILL MALL SITE IN WEST LAFAYETTE, INDIANA
Public engagement process to take
place this summer with planned groundbreaking in 2019
Lafayette, IN -- Trinitas Ventures, a premier owner, investor,
developer, builder and manager of high-quality commercial real
estate, announced today that it plans to redevelop the Chauncey
Hill Mall property in downtown West Lafayette, Indiana.
This summer, Trinitas will undertake a collaborative planning
process to redevelop the three-acre site at Chauncey Avenue and
State Street into a top-tier, mixed-use project that fits the needs
of the local community and university.
"I am very excited about this project and what it will mean for the
community," says Loren King, CEO of Trinitas Ventures. "We are
committed to listening to the community and to the stakeholders to
conceive the best possible project to meet the needs of our
community. I am pleased with the planning and design team that we
have assembled."
Trinitas has selected Torti Gallas + Partners as master planner and
Antunovich Associates as architect for the project. The project
team includes Hoffman Strategy Group (market analysis) and a5
Branding and Digital (engagement/communications).
The collaborative planning process will include stakeholder
meetings and a Torti Gallas-led charrette in July to engage key
stakeholders and the community in the project, which may include
retail, restaurants, housing, a hotel, offices and parking.
The charrette, which will take place over several days at Chauncey
Hill Mall, will obtain input from residents, businesses, government
and education, among others, and is critical to the redevelopment
from a socio-cultural, environmental, financial and a qualitative
perspective.
Aaron Bartels, Senior Vice Precident, Development, at Trinitas
Ventures will lead the Chauncey Hill Mall project. He directs
mixed-use development for Trinitas and brings to the project more
than 20 years of experience in planning, design, development,
leasing and asset management of large-scale, mixed-use
communities.
"Redevelopment of this site is long overdue," says Bartels at
Trinitas Ventures. "We are working to create a true gathering place
that will continue the transformation of downtown West
Lafayette."
"To have this type of public input for a private project is unheard
of. A project that meets the needs of the West Lafayette community
is what will make this development successful," says West Lafayette
Mayor John Dennis.
Groundbreaking is planned before the end of 2019 with a projected
late 2021 opening. Bartels said Trinitas will work with existing
Chauncey Hill Mall tenants through the transition and redevelopment
process. Mayor Dennis has also pledged the City's assistance for
the existing businesses at Chauncey Hill Mall.
April 27, 2018
TRINITAS VENTURES BEGINS PLANNING FOR FORMER 3RD STREET KMART SITE ON BLOOMINGTON, INDIANA'S, EAST SIDE
Public engagement process this
summer to create plan for development that will include
residential, office, retail, hospitality
Lafayette, In -- Trinitas Ventures, a premier owner, investor,
developer, builder and manager of high-quality commercial real
estate, announced today that it is planning a new development on
the east side of Bloomington, Indiana, on the site of shuttered
95,000-square-foot 3rd Street Kmart.
Trinitas Ventures will begin a public engagement process this
summer for the 12-acre site with a planned phase one opening in
2021.
The mixed-use development will include residential, retail, office
and hospitality. The land is owned by Latimer family, which donated
nearby Latimer Woods to the city nearly 20 years ago. Trinitas and
the Latimer family see an opportunity to revitalize the east side
site.
"We have partnered with the Latimer family to look at how to
redevelop this area," says Travis Vencel, Executive Vice President
of Development at Trinitas Ventures. "This project will begin the
transformation of the east side from strip centers and single-use
developments to well-designed mixed-use, pedestrian-friendly
properties."
"We look forward to engaging in a collaborative planning process
with the community and local stakeholders this summer to develop a
New Urbanist plan for the community," says Aaron Bartels, Senior
Vice President of Development at Trinitas Ventures.
Dale Conard, whose grandparents Clarence and Lizzie Latimer farmed
the property for decades before leasing it for commercial
development, adds that the family could not be more pleased with
the Trinitas partnership. "Thank you to the Trinitas team," says
Conard. "I, along with the family, look forward to the emerging
plans to improve this site."
Trinitas has selected ELS Architecture and Urban Design as master
planner for the project. The project team includes the Lakota group
(placemaking), Hoffman Strategy Group (market analysis) and a5
Branding and Digital (engagement/communications).
April 3, 2018
STUDENT HOUSING BUSINESS – THE TOP INVESTORS AND DEVELOPERS IN STUDENT HOUSING
“Ranking third on our survey is Lafayette, Indiana-based Trinitas. The company has 18 properties set for delivery through 2021 at a total of 13,800 beds. The company’s pipeline includes a mixed-use student housing development located near the University of Cincinnati’s main campus, set for delivery in fall 2019.” For the complete article, see page 84 Student Housing Business
March 6, 2018
STUDENT HOUSING BUSINESS - IT'S ABOUT EXECUTION
“A successful team will maximize the talents of each individual member; however, the power of teamwork comes from the group’s collective focus on a common goal,” according to Mark Baumgarten, executive vice president at Trinitas. See what else Mark has to say about execution. Page 86.
Student Housing Business
2017
November 15, 2017
TRINITAS PARTNERS WITH UNITED WAY OF GREATER LAFAYETTE
Lafayette, IN; Trinitas, a premier
owner, investor, developer, builder and manager of high-quality
commercial real estate and student housing communities partnered
for its second year with the United Way of Greater Lafayette,
Indiana. The United Way works to create positive changes in the
community by defining its needs, coordinating resources to address
issues and enabling people within the community to help one
another.
This year, Trinitas raised over $18,700 which is over double the
amount raised by the company in 2016. Employees contributed through
payroll deductions and pledge cards, which were met dollar for
dollar by the company. In addition, Trinitas held a company-wide
raffle which generated $1200 in donations with over 500 tickets
sold.
“I am incredibly proud to partner with the United Way for a second
year and see our company-wide efforts supporting the cause,
continue to grow,” said Loren King, chief executive officer and
co-founder. “Our organization not only passed last year’s donation
goal but doubled it, which truly shows the passion of the Trinitas
team and the value it places on the community we call home.”
ABOUT TRINITAS
Trinitas is a fully integrated real estate company that invests in,
develops, constructs and manages high quality, university-centric
commercial real estate throughout the United States. Trinitas
currently owns and manages nearly $435 million in housing assets
consisting of more than 1,200 apartments. The privately held real
estate development company is currently developing over $535
million in assets for 2018-19 completion. Trinitas is headquartered
in Lafayette, Indiana. Learn more about Trinitas at www.trinitas.ventures.
ABOUT UNITED WAY of GREATER LAFAYETTE
United Way of Greater Lafayette is on a mission to empower every
person in this community to find their path to success from Cradle
to Career. At United Way, we are more than fundraisers, we are the
hand-raisers. We look for the community’s toughest challenges and
bring people together to develop long-lasting impactful solutions.
We believe that everyone can play a role in impacting the
community. United we win!
May 25, 2017
Entrata Student Named Management Brain of Trinitas
Trinitas, owner, investor,
developer, builder and manager of nearly $300 million in student
housing assets consisting of more than 2,800 student housing beds,
has chosen Entrata Student as its designated property management
software provider.
“Our driving force behind the selection of Entrata was to enlist a
system and partner that would better serve the nuanced needs of
student housing,” said Mark Larson, Chief Financial Officer of
Trinitas. “That approach was intensified to also find a partner
that was actively improving and eliciting feedback on their product
for future innovations in the space. Entrata was the platform and
the partner we were looking for.”
Entrata Student is a software tool designed to specifically meet
the unique needs of student housing operators. It allows the
company to improve forecasting, keep organized when turning beds
and enables online lease signing and automated renewals.
“Entrata Student is an integrated, cohesive platform that drives us
to perform better in resident management, leasing, marketing and
turnover,” said Larson. “Having an integrated system for all of
those management functions allows us to exploit synergies in our
information to make better decisions more quickly.”
Entrata Student leverages the power of Entrata Core to incorporate
Trinitas’ property accounting, purchasing, facilities, and leasing
data into one comprehensive property management system.
“On the analytics front, our property and portfolio analytics take
less time to generate and process through the simplicity of Entrata
data extracts,” said Larson. “Quite simply – all parts of our
management business have become quicker, more productive and more
accurate.”
In addition, it houses all of Trinitas’ resident management
information, and provides instant feedback on important metrics
such as occupancy, leads, traffic follow-up and countless other
quick-look metrics that are important to running Trinitas’
business.
“At the site level, our efficiency and effectiveness in prospect
follow-up has been phenomenal,” said Larson. “We have seen an
approximate 40 percent increase in our follow-up schedule through
the automation of that process within our Entrata system.”
Entrata allows its users free access to the data collected in the
system, enabling Trinitas the ability to easily extract data out of
the system for portfolio metrics analyzed by its executive team and
investors.
“As a company, our entire site and corporate management team rely
on Entrata as the management brain of our organization,” said
Larson. “From a Vice President analyzing leasing trends, a leasing
agent performing follow-up and a maintenance technician being
notified of a work order – Entrata works efficiently across our
entire organization.”
For more information on Entrata Student or how to implement Entrata
at your organization, please visit www.entrata.com or contact your sales
representative.
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 nearly $300 million in
student housing assets consisting of more than 2,800 student
housing beds. The privately held real estate development company is
currently developing over $200 million in student housing assets
consisting of approximately 2,000 beds for 2017 completion.
Trinitas is headquartered in Lafayette, Indiana. Learn more about
Trinitas at www.trinitas.ventures.
ABOUT ENTRATA
Founded in 2003, Entrata® is the most comprehensive property
management software provider with a single-login, open-access
Platform as a Service (PaaS) system. Offering a wide variety of
online tools including websites, mobile apps, payments, lease
signing, accounting, and resident management, the Entrata® platform
currently serves more than 20,000 apartment communities nationwide.
Entrata’s open API and superior selection of third-party
integrations offer management companies the freedom to choose the
technology and software that best fit their needs. For more
information, go to www.entrata.com.
April 26, 2017
Trinitas Named as Top Developer by Student Housing Business
Student Housing Business | March /
April 2017
Trinitas, a premier owner, investor, developer, builder and manager
of high-quality commercial real estate and student housing
communities, was named as one of the top ten most active developers
within the student housing industry. According to the March/April
2017 edition of Student Housing Business, the leading news and
information magazine for the industry, Trinitas was awarded this
honor along with other national leaders in the student housing
industry. Page 70.
Student
Housing Business
April 20, 2017
Trinitas Ventures Receives Four American Advertising Awards
Lafayette, IN; Trinitas, a premier
owner, investor, developer, builder and manager of high-quality
commercial real estate and student housing communities today
announced that it has received four, prestigious American
Advertising Awards.
Three silver awards were presented to the marketing team for
categories including: integrated brand integrity campaign,
collateral material brochure, and mass transit exterior design.
Trinitas’ senior graphic designer, Lindsay Courtney, also received
the 2016 Rising Star Award given to one person each year
recognizing outstanding career achievement and unselfish service to
the community. To date, Trinitas has won seven American Advertising
Awards in its two years of being an AAF member.
Alie Hrabe, Trinitas’ Vice President of Marketing and Leasing
states, “It is an honor to be awarded four American Advertising
Awards for our work among some of the best in the industry. I am
very proud of our team and the work we’ve accomplished with respect
to driving visibility of our properties and company brands. I am
also delighted that the creativity of our senior designer, Lindsay
Courtney, has been recognized with the Rising Star Award. It is a
well- deserved honor.”
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 nearly $300 million in
student housing assets consisting of more than 2,800 student
housing beds. The privately held real estate development company is
currently developing over $200 million in student housing assets
consisting of approximately 2,000 beds for 2017 completion.
Trinitas is headquartered in Lafayette, Indiana. Learn more about
Trinitas at www.trinitas.ventures.
About AAF
The American Advertising Federation (AAF), established in 1905 and
headquartered in Washington, DC, is the only organization that
includes members across all disciplines and career levels in
advertising representing all facets of the advertising industry and
acts as the “Unifying Voice for Advertising.” The AAF’s membership
is comprised of nearly 100 corporate members comprising the
nation’s leading advertisers, advertising agencies, and media
companies; a national network of nearly 200 local clubs
representing 40,000 advertising professionals; and more than 200
college chapters with more than 5,000 student members. The AAF
operates a host of programs and initiatives, including the
Advertising
Hall of Fame, the Advertising Hall of Achievement, the American
Advertising Awards, the National Student Advertising Competition,
the Mosaic Center for Multiculturalism and summer AdCamps for high
school students. For more information on the full range of the
AAF’s programming, visit www.aaf.org.
March 17, 2017
Trinitas Sells Portfolio of Premier Student Housing Communities to The Scion Group
LAFAYETTE, IN (March 17, 2017)
Trinitas and Harrison Street Real Estate Capital (“Harrison
Street”) announced today that they have sold a portfolio of 2,000
beds in three communities in Southeast and Midwest markets to The
Scion Group. The transaction, valued at over $172 million, closed
on March 15, 2017.
Trinitas CFO, Mark Larson said, “This portfolio transaction is a
testament to the quality student housing development projects the
Trinitas team has brought to multiple university markets
nationwide. We look forward to redeploying capital from this
transaction to facilitate the execution of our significant
development pipeline.”
The properties jointly owned by Trinitas and Harrison Street, and
sold to The Scion Group, include The Village at Muller Park,
located in Bloomington, Indiana and Alpha, located in Tuscaloosa,
Alabama. The third property included in the portfolio sale, Lux at
Central Park, located in Chapel Hill, North Carolina, was [wholly]
owned by Trinitas.
Christopher Merrill, Co-Founder, President and CEO of Harrison
Street, said “This transaction is emblematic of Harrison Street’s
deep sector expertise, creativity and proven track record of
creating value for our investors and partners alike. Initially
acquired as single assets or development opportunities, this
portfolio consists of nine high-quality properties at which we were
able to execute on our business plans often times ahead of
schedule. As the largest private investor in student housing, we
are continuing to identify attractive opportunities in the
sector.”
Trinitas will continue to manage a diverse portfolio of student
housing assets located at Purdue University, The University of
Arkansas, University of Illinois at Urbana-Champaign, Indiana
University-Purdue University Indianapolis, University of Nebraska –
Lincoln and Miami University in Oxford Ohio. Looking forward,
Trinitas has multiple projects consisting of over 10,000 beds in
various stages of the development process for delivery within the
next 36 months.
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 nearly $300 million in
student housing assets consisting of more than 2,800 student
housing beds. The privately held real estate development company is
currently developing over $200 million in student housing assets
consisting of approximately 2,000 beds for 2017 completion.
Trinitas is headquartered in Lafayette, Indiana. Learn more about
Trinitas at www.trinitas.ventures.
About Harrison Street Real Estate Capital
Harrison Street Real Estate Capital LLC is one of the leading real
estate investment management firms exclusively focused on the
Education, Healthcare and Storage sectors. The firm has created a
series of differentiated investment products across multiple
risk/return platforms. Headquartered in Chicago with office in
London, the firm employs a 90+ person team and has approximately
$12.2 billion in assets under management. For more information,
please visit www.harrisonst.com.
2016
June 13, 2016
Trinitas Breaks Ground On New Student Housing Community in Oxford, Ohio
OXFORD, OH (June 13, 2016)
Trinitas, a premier owner, investor, developer, builder and manager
of high-quality commercial real estate and student housing
communities, recently broke ground on a luxury, student housing
project located in Oxford, Ohio. Annex, a 202-unit, 643-bed
property will reside on 37 acres of land south of the Miami
University campus on State Road 27. Annex will feature a mix of
two, three and four bedroom cottages and 1, 2 and 4 bedroom town
homes. Each fully furnished unit will include spacious bedrooms
with private bathroom suites, walk-in closets, a washer and dryer
unit and high-speed internet with wireless capabilities.
The complex, designed by KJG Architects, includes 82 buildings and
amenity area and is anticipated to open in August 2017. It will
boast 370,000 square-feet of luxury amenities including an outdoor
courtyard with a basketball court and resort-style pool and sundeck
with water volleyball and grilling stations and nature preserve.
Residents will have access to a 9,312 square-foot, all-inclusive
club house which will feature a state-of-the-art fitness center,
free tanning, a computer café, private study lounges, gaming
stations and large screen TVs.
“Annex is ideally located for the Miami University students and
provides new home style living with apartment style amenities,”
said Travis Vencel, Executive Vice President of Development at
Trinitas. “We have put a lot of effort in designing a property that
will complement the Oxford market and are very excited about the
potential of this market; the students of Miami deserve this type
of product.”
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 $400 million in student
housing assets consisting of more than 4,800 student housing beds.
The privately held real estate development company is currently
developing over $205 million in student housing assets consisting
of over 2,000 beds for 2016 and 2017 completion. Trinitas is
headquartered in Lafayette, Indiana. Learn more about Trinitas at
www.trinitas.ventures.
March 4, 2016
Trinitas Ventures to begin construction next month on Annex housing development
More student housing is on the way after the plan to build a new housing development was approved by the Oxford City Council. Trinitas Ventures, based in Indiana, will begin building Annex next month. This new student housing community will be located less than a mile from campus, across from the Level 27 apartment complex. Alie Hrabe, vice president of marketing and leasing for Trinitas Ventures, said the construction will begin in April, and the apartments will be available for lease starting in fall 2017. Miami Student
2015
October 28, 2015
Trinitas breaks ground on student housing project in downtown Indianapolis
LAFAYETTE, IN (October 28, 2015)
Trinitas, a premier owner, investor, developer, builder and manager
of high-quality commercial real estate and student housing
communities, recently broke ground on a luxury, student housing
project located in downtown Indianapolis. The Collegiate, a
193-unit, 669-bed property will reside on 2.8 acres of land at the
northeast corner of West Michigan Street and North Capitol Avenue
and will feature a mix of one, two, three and four bedroom
apartments. Each fully furnished unit will include spacious
bedrooms with private bathroom suites, walk-in closets, a washer
and dryer unit and high-speed internet with wireless
capabilities.
The complex, designed by Ratio Architects, includes two buildings
ranging from five to eleven stories and is anticipated to open in
August 2017. It will boast 3,100 square-feet of retail space and
370,000 square-feet of luxury amenities including a five-level
parking garage, outdoor courtyard with a basketball court and
resort-style pool and sundeck with water volleyball and grilling
stations. Student residents will have access to a 5,196
square-foot, all-inclusive club house which will feature a
state-of-the-art fitness center, free tanning, a computer café,
private study lounges, gaming stations and large screen TVs.
“The Collegiate is ideally located for the IUPUI student, near
campus and walking distance to the amenities of downtown,” said
Travis Vencel, Vice President of Development at Trinitas. “We have
put a lot of effort in designing a property that will complement
the downtown Indianapolis market and are very excited about the
potential of this market.”
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 $400 million in student
housing assets consisting of more than 4,800 student housing beds.
The privately held real estate development company is currently
developing over $205 million in student housing assets consisting
of over 2,000 beds for 2016 and 2017 completion. Trinitas is
headquartered in Lafayette, Indiana. Learn more about Trinitas at
www.trinitas.ventures.
August 11, 2015
The Trinitas Difference
LAFAYETTE, IN (August 11, 2015)
Trinitas is a premier owner, investor, developer, builder and
manager of high-quality commercial real estate and student housing
communities. With two generations of Kings at the helm, Trinitas
draws on its exceptional heritage, commitment to excellence and
core business integrity to ensure the firm’s position at the
forefront of the industry. As an established leader in the student
living space, Trinitas relies on the company’s team of accomplished
veterans who understand the key facets of the industry and are able
to effectively develop their properties and those of their
partners. What sets Trinitas apart from other student housing
companies is that they also rely on input and expertise from the
students within the markets that they serve. This is The Trinitas
Difference.
One of the ways that Trinitas sets itself apart from competitors is
through their unique student property naming contest. Dub the Digs
is a month-long naming contest which gives students an opportunity
to leave their legacy by naming the student housing community being
developed by Trinitas in their market. The student who enters the
winning name, as decided upon by the company’s executive team,
receives $5000 cash and public recognition for their contribution.
Since the inception of Dub the Digs, three students at the
University of Alabama, University of Arkansas and University at
Nebraska—Lincoln have been awarded $15,000 for their prize winning
names.
“At Trinitas, we believe that a student’s living environment has an
impact on learning,” said Alie Hrabe, Vice President, Marketing and
Leasing. “Everything from the design and amenities of our
communities to our residence life program is focused on providing a
positive experience for our student residents. The Trinitas
Difference begins with the naming of our properties by university
students and continues through every aspect of the property. At
Trinitas, our ultimate goal is to ensure that each resident is more
successful by having lived at one of our communities.”
Another way the company exemplifies The Trinitas Difference is
through their partnership with Indiana University (IU). For the
past three semesters Travis Vencel, Vice President of Development
at Trinitas, has collaborated with IU’s Department of Kinesiology
to develop the Matrix Fitness Project. Through this project, Travis
challenges IU students to design a college housing fitness area
that encompasses what students want and what they need to be
healthy, while also staying within budget constraints. Students are
asked to analyze and present information related to the use of
student technology habits while working out as well as improve
Matrix cardio consoles by including creative entertainment ideas in
their design.
“Trinitas Ventures cares about what students want in their living
areas,” said Carol Kennedy-Armbruster, PhD. “I was impressed that
Trinitas personnel sought out my kinesiology students input on
designing the fitness and wellness areas of their living units.
Students seek real life learning experiences and appreciate the
opportunity to contribute to building healthy college communities.
Trinitas values student input which makes our collaboration a
win-win for both of our organizations. They not only build living
quarters, they create experiences that meet student needs.”
Trinitas also enlists help from students in the area of design. In
2012, the company partnered with Herron’s Basile Center for Art,
Design and Public Life to enhance one of their student housing
communities, 1201 Indiana, through public art. Several students
from the Fine Art Center presented to Trinitas, as well as
Indianapolis stakeholders, and the distinguished group selected a
sculpture, Moving Forward, by Brett Harbour. Harbour, a senior and
fine arts major at the time, said, “Something that stood out to me
at 1201 Indiana Avenue was the commitment to community and the
progressive environment that Trinitas developed. The atmosphere at
1201 Indiana seems designed to promote continual study and
wellbeing for the community.” Harbour went on to design a second
art piece at LUX, Trinitas’ student housing community in Chapel
Hill, which opened in 2014.
Although The Trinitas Difference is apparent via the company’s
community names, fitness areas and design, it is perhaps most
evident through the company’s Community Assistant (C.A.) program.
As a community assistant, student residents are exposed to dynamic
and diverse opportunities that can serve as platforms for their
career. They are responsible for delivering superior service to
residents as well as fostering strong communities that contribute
to positive living experiences. Through this program, student
residents work directly with residents to forge connections that
build an engaging residential community and a flawless housing
experience. The purpose of the C.A. program, as well as the various
other opportunities that Trinitas offers, is to ensure that both
employees and residents are more successful by having lived at a
Trinitas community. This is The Trinitas Difference.
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 $300 million in student
housing assets consisting of more than 4,000 student housing beds.
The privately held real estate development company is currently
developing over $215 million in student housing assets consisting
of over 3,650 beds for 2015 and 2016 completion. Trinitas is
headquartered in Lafayette, Indiana. Learn more about Trinitas at
www.trinitas.ventures.
July 2, 2015
Construction Has Begun On Our Newest Student Housing Project In Lincoln Nebraska
Work has begun on Lincoln’s newest
student-oriented housing project. Alie Hrabe, Vice President,
Marketing and Leasing at Trinitas of Lafayette, Indiana, said
foundation work has begun at the 8N Lofts at Eighth and N streets.
The seven-story building will have 172 fully furnished apartments
with 624 total bedrooms. Trinitas describes the project on its
website as an upscale building that will include a “Husker Sky
Deck” on the top floor with a large-screen TV, fire pit, hot tub,
sundeck and grilling stations.
Journal Star
April 7, 2015
Student Housing Business – Marketing and Managing International Students
Student Housing Business |
March/April 2015
“We understand that we’re not only introducing students to a new
school, but to an entirely new culture, so we offer a variety of
ways for them to get involved.” This according to Alie Hrabe, Vice
President, Marketing and Leasing at Trinitas. See what other
strategies Trinitas uses to serve their growing international
student population. Page 60.
Student
Housing Business
2014
December 19, 2014
Trinitas Named In Student Housing Business’ Top 25 Owners Of Student Housing
Student Housing Business |
November/December 2014
Trinitas Ventures, a premier owner, developer, and manager of high
quality student housing, was named one of the top owners within the
student housing industry for another consecutive year. According to
the November/December edition of Student Housing Business, the
leading news and information magazine for the industry, Trinitas
was awarded this honor along with other national leaders in the
student housing industry. Page 66.
Student
Housing Business
November 10, 2014
Trinitas and Harrison Street Sell Five Premier Student Housing Communities to Candlebrook Properties
OVER 3,400 BEDS CHANGE HANDS IN
THE LARGEST STUDENT HOUSING TRANSACTION OF 2014
Lafayette, IN; Trinitas and Harrison Street Real Estate (HSRE)
announced today that they have sold a portfolio of 3,400 beds in
five communities in Southern and Midwest markets to Candlebrook
Properties and Lubert Adler. The transaction, valued at over $230
million, closed on October 31, 2014.
“We are happy to announce the disposition of these best-in-class
assets to Candlebrook and Lubert Adler,” said Loren King, CEO of
Trinitas. “Our ability to offer a well-positioned, diversified
portfolio to a new player in the student housing industry speaks
volumes to the quality and execution of our product and our strong
partnership with Harrison Street Real Estate Capital.”
Ben Mohns, Senior Vice President at Harrison Street Real Estate
said, “We’re pleased to have executed on our business plan for our
investors and to have capitalized on the favorable market
conditions for this transaction. With this sale Harrison Street
will have sold more than $2.1 billion in real estate across the
Education, Healthcare and Storage sectors.”
The five sold properties include The Collegiate on Patterson,
located in Bloomington, Indiana; 1201 Indiana, located in
Indianapolis, Indiana; The Collegiate on Busbee, located in
Kennesaw, Georgia; The Collegiate on Angliana, located in
Lexington, Kentucky; and The Collegiate at VCU, located in
Richmond, Virginia.
Trinitas will continue to manage a diverse portfolio of student
housing assets located at Purdue University, The University of
Illinois, Indiana University and The University of North Carolina
at Chapel Hill. In addition, Trinitas and HSRE are currently under
construction with Alpha, a luxury student housing development
located in Tuscaloosa, Alabama. Looking forward, Trinitas has
multiple projects consisting of 3,000 beds in various stages of the
development process for delivery within the next 24 months.
Trinitas CFO, Mark Larson said, “This was a complex transaction
that required tremendous focus over the last several months. We are
proud of our team’s ability to execute the largest portfolio sale
of student housing assets to date this year. Our ability to close
this historic transaction with a sophisticated buyer speaks
strongly to the capabilities within our organization and our
partnership with HSRE.”
Added Mohns, “Trinitas Ventures has been one of our longstanding
best-in-class operators and we look forward to continuing our
relationship with their fine organization.”
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 $250 million in student
housing assets consisting of more than 2,800 student housing beds.
The privately held real estate development company is currently
developing over $150 million in student housing assets consisting
of over 3,000 beds for 2015 and 2016 completion. Trinitas is
headquartered in Lafayette, Indiana. Learn more about Trinitas at
www.trinitas.ventures.
About Harrison Street Real Estate Capital
Harrison Street Real Estate Capital is a real estate private equity
firm founded in 2005 that directly and through its Harrison Street
Real Estate Capital is a real estate private equity firm founded in
2005 that directly and through its affiliates, has approximately
$7.3 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. Since inception, the Firm has acquired
or developed over 400 properties in 40 states including over 50,800
student housing beds, more than 11,600 senior housing units, over
4.8 million square feet of medical office space, and more than
82,000 self-storage units. Additionally, Harrison Street Securities
LLC, an affiliate currently manages over $760 million in REIT
securities through distinct long only product offerings. For more
information please visit www.harrisonst.com.
October 23, 2014
Trinitas’ Wins Coveted IAA Prodigy and Award Of Excellence
Lafayette, IN (October 23, 2014) –
The Collegiate on Patterson, a Trinitas owned luxury student
housing community in Bloomington, Indiana was named Best Community
Designed for Student Housing by the Indiana Apartment Association
(IAA) during the 2014 Prodigy Awards Ceremony. The Prodigy Awards,
along with the individual Awards of Excellence, are presented
annually by IAA at the President’s Dinner during the annual Midwest
Multifamily Exposition and Education Conference.
The Collegiate on Patterson is an urban student housing community
situated on 13.5 acres of land in Bloomington, Indiana. The
204-unit, 635-bed property, which integrates individual house units
as well as townhouse-style apartments, is a short bike or shuttle
ride to Indiana University. Patterson boasts a broad array of
unmatched amenities including a heated pool and hot tub, outdoor
fire pit, grilling area, basketball court and outdoor gaming area.
A 6,000 square-foot clubhouse complete with a state-of-the-art
fitness centers, tech bar with Macs and PCs, free tanning beds, a
study lounge, TVs and game consoles anchor this 292,939 square-foot
property. The Collegiate on Patterson opened in August 2014 and is
a joint venture between Trinitas and Harrison Street Real Estate
Capital of Chicago, Illinois.
Patterson’s Prodigy Award for Best Apartment Community Designed for
Student Housing was one of two honors bestowed upon Trinitas by
IAA. Casey Johnson, Leasing and Marketing Manager for The
Collegiate on Patterson, was also awarded the Award of Excellence
for Leasing Consultant of the Year. This honor, established in
1994, recognizes a leasing consultant for his or her outstanding
performance in leasing. Casey, a graduate of Indiana University and
decorated member of its Men’s Swimming Team, began his career as a
leasing specialist with Trinitas in 2013. He was recently promoted
to the position of Leasing and Marketing Manager for Patterson and
continues to be one of the company’s top leasers.
“We are honored to be recognized by the Indiana Apartment
Association for the development of our best-in-class student
housing communities as well as our best-in-market team members.
Trinitas’ position at the forefront of student housing is directly
tied to our team’s commitment to excellence and business
integrity,” said Loren King, Trinitas CEO.
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 nearly one half
billion dollars in student housing assets consisting of more than
6,300 student housing beds. The privately held real estate
development company is currently developing over $150 million in
student housing assets consisting of over 2,000 beds for 2015 and
2016 completion. Trinitas is headquartered in Lafayette, Indiana.
Learn more about Trinitas at www.trinitas.ventures.
June 23, 2014
Lafayette Entrepreneur Named to NFIB Leadership Council
Lafayette, IN (June 23, 2014) –
The National Federation of Independent Business, Indiana’s leading
small-business association, has named Loren King to its state
Leadership Council. King is the Chief Executive Officer of Trinitas
Ventures, a student housing company that finances, develops,
constructs and manages high quality student housing communities at
major universities throughout the United States. As a member of the
NFIB/Indiana Leadership Council, King will assist in developing the
association’s statewide agenda and building strategies to support
small business throughout the state. Council members are nominated
by either NFIB’s state director or current members and elected by
the council. “I am honored to serve on the NFIB’s Indiana
Leadership Council,” said King. “I look forward to working with the
other council members to ensure that the small business community
in Indiana continues to grow and prosper.”
Loren is a graduate of the Indiana University School of Law and
earned a Master of Business Administration degree from the Indiana
University Kelley School of Business, with a concentration in New
Venture and Real Estate Finance. He also earned a Bachelor of Arts
degree in Economics from DePauw University. Prior to completing his
law degree and Master of Business Administration degree, Loren
worked in the international corporate affairs office of a
multinational Fortune 500 company. He is a former member of the
Board of Directors for the Indiana Apartment Association as well as
a member of the Indiana and Illinois bar associations, his local
chamber of commerce, and local, state and national apartment
associations. 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
over $400 million in student housing assets consisting of more than
5,600 student housing beds. Trinitas has financed more than $80
million in student housing through Q4 2013, is currently developing
over $100 million in student housing assets consisting of over
1,200 beds for Fall 2014 completion. The privately held real estate
development company is headquartered in Lafayette, Indiana. Learn
more about Trinitas at www.trinitas-ventures.com.
May 5, 2014
Trinitas Recognized as a Top Owner and Manager of Student Housing
Lafayette, IN (February 1, 2014) –
Trinitas Ventures, a premier owner, developer, and manager of high
quality student housing, was named one of the top owners within the
student housing industry for another consecutive year. According to
the November/December edition of Student Housing Business, the
leading news and information magazine for the industry, Trinitas
was awarded this honor along with other national leaders in the
student housing industry.
“We are honored to be recognized in Student Housing Business’
ranking of the industry’s Top 25 Owners of Student Housing,” said
Loren King, Chief Operating Officer of Trinitas. “Our team includes
accomplished commercial real estate and student housing
professionals who are experts in this highly specialized industry.
Trinitas’ position at the forefront of student housing is directly
tied to their commitment to excellence and business integrity.”
In fall 2013, the publication conducted surveys with industry
leaders in order to garner critical market data necessary to
develop the rankings. The magazine used the number of beds as a
benchmark to determine the largest owners. Trinitas Ventures earned
a top ranking within the top twenty-five owners as well as the top
twenty-five managers.
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 nearly one half
billion dollars in student housing assets consisting of more than
6,200 student housing beds. The privately held real estate
development company has financed more than $80 million in student
housing through Q4 2013 and is currently developing over $100
million in student housing assets consisting of over 1,200 beds for
Fall 2014 completion. Trinitas is headquartered in Lafayette,
Indiana. Learn more about Trinitas at www.trinitas-ventures.com.
2013
October 15, 2013
Trinitas Appoints New Vice President, Marketing
Lafayette, IN (October 15, 2013) –
Trinitas Ventures, a premier developer, owner and manager of
high-quality student housing, today announced the appointment of
Alie Hrabe Vice President, Marketing.
Alie comes to Trinitas with over fifteen years of experience in
commercial real estate marketing. In her role, Alie will implement
and oversee all marketing communication programming including the
company’s corporate identity. Alie will also be responsible for
developing, implementing and overseeing the comprehensive marketing
plans and budgets for all student housing properties on an annual
basis. Before joining Trinitas, Alie served as Director of Field
Marketing for General Growth Properties, Inc., the second largest
public retail REIT in the United States that owns, manages and
develops super-regional shopping centers. She was responsible for
over twelve million square-feet of retail space at sixteen Midwest
properties with a combined, annual NOI of $150 million. Alie earned
numerous shopping center industry awards as well as her Certified
Marketing Director (CMD) accreditation through the International
Council of Shopping Centers. She is a graduate of Creighton
University and holds a Bachelor of Arts degree in English and
Creative Writing.
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 over $400 million in
student housing assets consisting of more than 5,600 student
housing beds. Trinitas has financed more than $80 million in
student housing through Q4 2013, is currently developing over $100
million in student housing assets consisting of over 1,200 beds for
Fall 2014 completion. The privately held real estate development
company is headquartered in Lafayette, Indiana. Learn more about
Trinitas at www.trinitas-ventures.com.
August 9, 2013
Axiometrics, Trinitas Make a Deal on Student Housing Data
Lafayette, IN (August 9, 2013) –
Trinitas Ventures
LLCa>, The ability of developers and investors to access
accurate data on student housing communities may have taken a big
leap forward. Student housing developer Trinitas Ventures and
Axiometrics Inc., a Dallas-based research firm that tracks the US
apartment market, have reached terms for Axiometrics to acquire
Trinitas’ comprehensive student housing market research database.
That data set includes information on about 130 student housing
markets, more than 3,200 properties, 500,000 units and 1 million
beds.
“We recognized that one of the major problems that plagued the
student housing industry has been the lack of standardized
reporting,” says Kelli Smith, student housing project manager for
the Axiometrics. They first began tracking REIT-owned properties
and eventually built an extensive catalogue of student housing data
on over 200 university communities that helped provide standardized
reporting and forecasting for the sector.
“Previously, companies were really left to do their research
in-house,” she explains. “Now that we’re out there, they can rely
on our much more comprehensive research.”
The Lafayette, IN-based Trinitas also wanted to develop the type of
rental, sales and vacancy data more available to developers of
office, industrial, multifamily and retail properties. “Anytime
they wanted to determine the health of a market,” Smith says,
“they’d send a person out to make a survey” and then incorporate
the information into a proprietary database. “They’ve been doing
this for quite awhile,” Smith adds, “and although I’m sure some of
their data will overlap with our own, it’s still going to increase
dramatically our ability to serve our clients.”
Trinitas finances, develops, constructs and manages student housing
communities at major universities throughout the United States.
They currently own and manage about $350 million in student housing
assets consisting of more than 5,000 beds. Trinitas has also
financed more than $80 million in student housing through the third
quarter of 2013. They will complete over $100 million in student
housing assets with over 1,400 beds by the fall of 2013.
“We have used our proprietary market research to find great
development opportunities and also to avoid investments in markets
that are revealed as unhealthy upon a deeper investigation,”
explains Loren King, chief executive officer for Trinitas. “Now,
what has been our strategic advantage will be available to
Axiometrics’ clients.”
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 Trinitas Ventures
LLC.
June 1, 2013
Trinitas Breaks Ground On New Student Housing Community in Chapel Hill, North Carolina
Lafayette, IN (June 1, 2013) –
Trinitas, a premier developer, owner and manager of high quality
commercial real estate, recently broke ground on an upscale student
housing project located in Chapel Hill, North Carolina. LUX at
Central Park, a 194-unit, 608-bed property will feature a mix of
one, two, three and four bedroom apartments within walking distance
to the University of North Carolina at Chapel Hill. It will be
built to support Chapel Hill’s green initiative via an energy
efficient building design, low impact lighting and energy efficient
appliances in each unit.
The midrise luxury complex, anticipated to open in August 2014,
will boast upscale amenities including a resort-style pool, outdoor
fire pit and seating area, multipurpose sports court and a sand
volleyball court. Student residents will have access to a 6,500
square-foot, all-inclusive club house which will feature a
twenty-four hour fitness area, free tanning beds, gaming area and a
study lounge equipped with Macs and PCs. Nestled in a quiet grove
surrounded by trees and walking trails, the property’s close
proximity to campus will allow students convenient access to
popular Franklin Street shopping and dining destinations while also
providing a retreat to study and interact with friends.
“We’re excited to add this exceptional, eco-friendly student
housing community to our portfolio,” said Loren King, Chief
Executive Officer of Trinitas. “LUX at Central Park gives us the
opportunity to support the city of Chapel Hill’s goal of reducing
carbon emissions by 60% in the year 2050 while also giving UNC
students the opportunity to experience Trinitas student living,
known for its top notch service and best-in-class amenities.”
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 over $400 million in
student housing assets consisting of more than 5,600 student
housing beds. Trinitas has financed more than $80 million in
student housing through Q4 2013, is currently developing over $100
million in student housing assets consisting of over 1,200 beds for
Fall 2014 completion. The privately held real estate development
company is headquartered in Lafayette, Indiana. Learn more about
Trinitas at www.trinitas-ventures.com.
January 22, 2013
Trinitas and Harrison Street Break Ground Near University of Kentucky
Lafayette, IN (January 22, 2013) –
Trinitas Ventures LLC, a
premier developer of student housing and mixed-use communities,
recently began constructing a new urban infill redevelopment in
Lexington, Kentucky. The Collegiate on Angliana, a 278-unit,
699-bed student housing property with an anticipated opening date
of August 2013, will serve students attending the University of
Kentucky (UK).
The Collegiate is located one mile northwest of UK’s main campus
and is a short walk to downtown Lexington and Rupp Arena. The
student housing property integrates Trinitas’ award-winning large
unit designs and townhouse-style apartment features with the
convenience and atmosphere of modern living. The student housing
facility provides a number of amenities including a 6,500
square-foot clubhouse, pool, hot tub, basketball, bocce, as well as
sand volleyball courts, fitness center, and sundeck.
Equity financing has been provided by a joint venture between
Trinitas and Harrison Street Real Estate Capital (HSRE). The
project represents the fourth development for the Trinitas/HSRE
Capital partnership. Brian Thompson, Senior Vice President at HSRE
stated, “We are pleased to further expand our relationship with
Trinitas. We have had tremendous success with Trinitas and we are
excited to be investing with them in the dynamic UK market. They
are professionals in every sense of the word and we look forward to
growing the platform over future cycles.”
Construction financing has been provided by Key Bank. This is the
first construction loan financed by Key Bank for Trinitas’ student
housing developments. Loren King, Chief Operating Officer of
Trinitas stated, “We are excited to begin our relationship with Key
Bank and continue our partnership with HSRE. By expanding our
access to debt capital and combining it with our consistent,
successful association with HSRE, we have positioned ourselves for
success on present and future student-housing opportunities.”
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 KeyBank Real
Estate Capital
KeyBank Real Estate Capital is a leading provider of commercial
real estate finance. Its professionals, provide construction and
interim finance, permanent mortgages, commercial real estate loan
servicing, and cash management services for virtually all property
types. As a Fannie Mae Delegated Underwriter and Servicer, Freddie
Mac Program Plus Seller/Servicer and FHA approved mortgagee,
KeyBank offers a variety of agency financing solutions for
multi-family properties, including seniors housing and student
housing. KeyBank Real Estate Capital is also one of the nation’s
largest and highest-rated commercial mortgage servicers.
January 8, 2013
Trinitas and Harrison Street Complete The Collegiate Near Virginia Commonwealth University
Lafayette, IN (January 8, 2013) –
Trinitas Ventures LLC, a
premier developer of student housing and mixed-use communities,
recently constructed a new, urban-infill student housing community
located in Richmond, Virginia. The Collegiate, a 269-unit, 690-bed
student housing property, serves students attending Virginia
Commonwealth University (VCU) and opened this past August.
The Collegiate is located 1/2 mile north of VCU’s main Monroe Park
Campus in the heart of Richmond’s downtown area. The student
housing property integrates Trinitas’ award-winning 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 6,300 square feet clubhouse containing a
recreation area, spa, and fitness center as well as courtyards
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 Capital partnership. 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 (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. “Our successful history
with both parties—including the financing of the successful 1201
Indiana project in Indianapolis, Indiana—is fuel for our growth as
we seek to capitalize upon various opportunities in student housing
markets 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.
2012
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.
Equity 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.”
Construction 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.
2011
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.
“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.
April 20, 2011
Trinitas Ventures CEO Mediates Panel Discussion on New Product and Development Trends in Student Housing
West Lafayette, IN (April 20,
2011) – Loren King, CEO 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.
This 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 11, 2011
Trinitas Ventures Begins Construction of a New Urban-Infill Student Housing Community in Richmond, Virginia
West Lafayette, IN (March 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.
The 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.
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.
“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.
January 18, 2011
Trinitas Announces Completion of Key 2010 Financing Activities
WEST LAFAYETTE, IN (Jan. 18, 2011)
– Trinitas, a premier developer of student housing and mixed-use
communities, announced the completion of its key financing
activities for the 2010 calendar year, solidifying the firm’s
balance sheet and preparing the company for continued growth of its
development and owned property student housing portfolio.
Details of the company’s key financing transactions are described
below:
Refinancings
On March 12, 2010, the company refinanced its construction
mini-perm facility on The Village at Muller Park, located in
Bloomington, Indiana. The 248-unit / 668-bed luxury student housing
property serves students attending Indiana University. Permanent
financing in excess of $25 million was secured through a 10-year
fixed-rate loan through M&T Realty Capital Corporation/Fannie
Mae. Debt service is interest-only for 2 years followed by 30-year
amortization at an interest rate below 6%.
On October 29, 2010, the company refinanced its construction
mini-perm facility on The Village at Colbert Park, located in
Savoy, Illinois. The 279-unit / 699-bed luxury student housing
property serves students attending The University of Illinois –
Urbana Champaign. Permanent financing in excess of $25 million was
secured through a 10-year fixed-rate loan through M&T Realty
Capital Corporation/Fannie Mae. Debt service is interest-only for 2
years followed by 30-year amortization at an interest rate below
5%.
“Our successful refinancing activities are evidence of strong
support for our recently developed, stabilized assets,” commented
Mark D. Larson, Vice President of Finance for Trinitas. “Our
continued relationship with strong lenders like M&T Realty
Capital Corporation positions us well as Trinitas’ growth
accelerates over the next several years.”
Construction Debt
On October 8, 2010, Trinitas closed on an approximately $30 million
construction facility to finance the construction of 1201 Indiana,
a 267-unit / 667-bed property located in the heart of Indianapolis,
Indiana. 1201 Indiana will serve students attending Indiana
University-Purdue University Indianapolis (IUPUI), with an
anticipated opening date of August 2011. PNC Bank is providing the
construction loan.
“We are excited to be working with PNC Bank – they are a great
organization and have a great real estate finance team,” remarked
Loren P. King, Chief Operating Officer of Trinitas. “1201 Indiana
represents our latest innovative student housing development. PNC’s
local commitment to this project, and to our firm, demonstrates the
strong relationship we have developed over the last several years
with their financing team. We look forward to our continued
successes together today and in the future.”
Equity Commitments
As previously announced, on October 29, 2010 Trinitas closed a $100
million joint venture with Harrison Street Real Estate Capital
(HSRE) to develop student housing communities throughout the United
States.
“Our joint venture with HSRE provides us with an enhanced ability
to capitalize upon the many student housing opportunities our
development team is uncovering in markets throughout the country,”
Mr. King remarked. “HSRE strengthens and diversifies our investor
base and improves our ability to execute on opportunities quickly
and decisively. With HSRE’s programmatic capital behind us, our
ability to grow and create value in the student housing business
has been accelerated. We look forward to a long, successful
relationship with Harrison Street.”
About Trinitas
Trinitas Ventures is a premier developer, owner and manager of high
quality commercial real estate, specializing in student housing and
mixed-use communities at major universities throughout the United
States. Trinitas is a fully integrated real estate firm with
expertise in development, construction, property management, and
related activities and services. The privately held real estate
development company is headquartered in West Lafayette, Indiana.
Learn more about Trinitas at www.trinitas-ventures.com.
2010
November 1, 2010
Trinitas Ventures and Harrison Street Real Estate Capital Form $100 Million Student Housing Venture
Chicago, IL (November 1, 2010)—
Trinitas Ventures LLC, a leading developer and operator of student
housing, and Chicago-based real estate private equity firm Harrison
Street Real Estate Capital (HSRE) have formed a $100 million joint
venture partnership to develop and manage urban-infill student
housing communities throughout the country. The joint venture is
positioned to capitalize on the development of infill student
housing development opportunities proximate to large state
universities across the country. Demonstrating that opportunity,
the joint venture, recently closed on two student housing
properties, one existing property and another currently under
development. The purchase price totaled approximately $69
million.
“We seek well-located high-barrier-to-entry locations close to
large colleges and universities,” said Loren King, Chief Operating
Officer of Trinitas. “These types of sites are usually difficult to
acquire, entitle, and develop—we specialize in difficult. We
customize each project to the site and the market, which results in
a well-positioned, highly desired property and significant value
creation for Trinitas and our partners.”
The joint venture acquired the award-winning The Village at Muller
Park, a Class A, 668-bed, purpose-built student housing property
located in Bloomington, IN, serving students attending Indiana
University. The property was developed and built by Trinitas and
its affiliates and opened in Fall 2008. The Village at Muller Park
provides 668 beds through a mix of townhouse and conventional flat
styled apartments. The property’s award-winning clubhouse boasts a
fitness center, resident business center, study rooms, micro spa,
recreation room and gaming center, and a pool and sundeck.
The joint venture also acquired 1201 Indiana, a Class A, 667-bed,
purpose-built student housing project scheduled to open in August
2011. This investment represents the first infill development for
the Trinitas/Harrison Street Real Estate Capital partnership and
the first investment for the recently launched Harrison Street Real
Estate Partners Fund III. The property is being developed and built
by affiliates of Trinitas.
Trinitas/Harrison Street Joint Venture
Located in Indianapolis, Indiana, 1201 Indiana will serve the
students attending Indiana University–Purdue University
Indianapolis (“IUPUI”). When completed, 1201 Indiana will provide
667 beds and approximately 7,000 square feet of commercial space.
The property is fully amenitized and will include a clubhouse with
a fitness center, recreation and game room, pool and sundeck, micro
spa, second floor patio deck and lounge area, and fifth floor
roof-top deck and patio overlooking downtown Indianapolis.
Additional development projects are anticipated and could be
completed for Fall 2012 opening. “We continue to be active in the
student housing space and feel that the partnership with Trinitas
provides an excellent complement to our current student housing
portfolio and further diversifies our partner base,” said Brian
Thompson, Vice President of Harrison Street Real Estate Capital.
“We look forward to a long, successful relationship with the
Trinitas team. Their organization is poised for growth and their
team has all of the qualities we are looking for in long-term
partners.”
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
$2.1 billion in real estate assets which includes over 15,800
student housing beds, 4,400 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 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 22, 2010
Loren P. King of Trinitas Ventures Appointed to Indiana Apartment Association Board of Directors
West Lafayette, Ind. (March 22,
2010) – Loren P. King, chief operating officer and general counsel
for Trinitas Ventures, LLC and has been appointed to the board of
directors of the Indiana Apartment Association (IAA).
IAA is a trade organization that plays a paramount role in
representing the multi-family housing community at the local, state
and national levels. Currently, the IAA represents more than 20,000
units throughout Indiana as well as members in eight affiliated
chapters and councils. The association provides property owners and
management companies with a constructive force through which to
work together for the betterment of the industry.
King leads Trinitas’ business operations, including its real estate
development, investor and lender relations, legal strategy, and
property management operations. Prior to founding Trinitas, he
served as a corporate law attorney for Frost Brown Todd, a
mulit-state, full-service law firm. In this role, King focused on
new ventures and emerging business as well as employee benefits law
and executive compensation. King is a graduate of the Indiana
University School of Law and earned a master’s of business
administration degree from the Indiana University Kelley School of
Business, with a concentration in new venture and real estate
finance. He also earned a bachelor’s of arts degree in economics
from DePauw University.
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, including properties in West Lafayette,
Indianapolis, and Bloomington, Indiana, as well as Champaign,
Illinois. 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.