Asset Campus Housing News

Asset Campus believes its people are the company's greatest asset and has assembled a team that is quite simply unparalleled in the industry. We are proud to welcome these new members to the team.

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Asset Campus Housing is pleased to announce our newest management assignment.  College Edge [http://www.livecollegeedge.com] is a 400 bed student housing facility located in Bryan, Texas.  Serving students that attend both Blinn College and Texas A&M University, College Edge offers distinct one-, two-, and four bedroom apartments.  Each apartment offers students high-speed internet, cable TV with HBO, and spacious walk-in closets.  Property amenities include a state-of-the art clubhouse that allows residents wireless internet access, an onsite basketball court,  resort style pool, and sand volleyball court.

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While over eighty-four major markets throughout the United States suffered declines in private-sector employment the past five years, only sixteen markets showed a positive increase.  Four of the sixteen successful markets were located in the great state of Texas, and more specifically the number one city with growth over the past five years is where our very own Asset Plus headquarters calls home, Houston, TX.  Dallas came in second, followed by Austin and San Antonio as the other three major Texas markets showing growth in private-sector employment.

Unlike Texas, Los Angeles, California was posted on the U.S. Bureau of Labor Statistics as having the largest decline in private sector employment by losing over 376,400 positions.  Detroit, Chicago, and Miami Ft. Lauderdale were three other major markets that suffered from 165,000 to 328,000 employments lost over the past five years.

Asset Plus has been fortunate enough to draw a parallel to the city of Houston and these statistics by increasing hundreds of job opportunities to both the Asset Campus Housing team and the Asset Plus team.  We look forward to helping keep Houston number one on private-sector employment growth for many years to come.

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The wedding industry brings in over 40 billion dollars each year and in Texas alone, there were 182,489 weddings with an average cost of $18,424 each in 2009. If subscribing to the Weddings in Houston (http://www.weddingsinhouston.com/) magazine isn’t enough information for you, luckily there are two Houston Bridal Extravaganzas that are thrown each year to exhibit vendors, win prizes, and figure out all the missing details to your big day.

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A joint venture between Houston-based Asset Plus Companies and institutional investors advised by J.P. Morgan Asset Management has acquired the 250-unit Harbor View Apartments located in Kingwood, a master-planned community approximately 20 miles northeast of the Houston CBD.

The recently completed Class A property was purchased out of foreclosure from Capital One, N.A.

The four-story apartment community features air-conditioned corridors, elevators and a direct access parking garage. A variety of floor plans are available, including 1-, 2- and 3-bedroom units. Asset Plus Companies will begin preparing the property to resume leasing activity and will officially open a leasing office mid-June.

Kingwood, established in 1970, has over 70,000 residents and is filled with amenities and conveniences, including 75 miles of greenbelt trails, 500 acres of parks and nature reserves, two community sports parks, a large variety of restaurants and shopping and much more. Major road improvements along U.S. Highway 59 have made Kingwood one of the most accessible communities in the greater Houston area.
About Asset Plus Companies

Founded in 1986, Asset Plus Companies is a third-party property management firm specializing in real estate services for investors, developers, and owners.  The company manages a portfolio of more than 180 multi-family properties and recently ranked #38 on the NMHC list of the nation’s 50 largest apartment management companies.

About J.P. Morgan Asset Management –  Global Real Assets
J.P. Morgan Asset Management – Global Real Assets has approximately $43.2 billion in real estate and infrastructure assets, as of March 31, 2009.  With a 40-year history of successful investing and a staff of 361 professionals, J.P. Morgan Asset Management – Global Real Assets identifies, analyzes, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells assets, on behalf of its clients. J.P. Morgan Asset Management's broad investment capabilities and framework for analyzing opportunities in today's complex real estate and infrastructure markets provide critical insights for its institutional clients in both the public and private markets.

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Multifamily Executive released this year's MFE Top 50 Managers list last week and Asset Plus Companies ranked #38.

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Asset Plus Companies Named to MDU Hall of Fame

It takes more than a village to bring state-of-the-art broadband to multiple-
dwelling-unit structures. It takes visionary action, top technology and extra dedication to customer service. Our latest honorees also had to excel in a vicious economic downturn.

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Asset Plus Companies has announced the ground breaking for 25Twenty, a student housing development in Lubbock, Texas.  Managed by Asset Campus Housing, 25Twenty is located on a 3.6-acre site adjacent to Jones AT&T Stadium, home of Texas Tech Red Raider football. The upscale 562-bed student housing community will feature the major components of a successful pedestrian-orientated development. “This project will be much like The Lofts at Wolf Pen Creek development, which we completed last fall in College Station, Texas,” according to Company President Michael S. McGrath. “The Lofts at Wolf Pen Creek was 97% leased when it opened last year and is leading the market this year in pre-leasing as well,” added McGrath.

25Twenty will be a four-story stucco and brick structure which will offer a mix of 249 units arranged around two beautifully landscaped courtyards. The main courtyard will feature a sunning ledge, a grand resort-style pool with water feature, outdoor BBQ kitchen and hammock area.  Not to be outdone by the larger courtyard, the second courtyard will hold its own and highlight a pro-style sand volleyball court, competition horseshoe pit and an area to kickback and relax around an outdoor fire pit.
 
A 9,600 square-foot clubhouse will offer a game room packed with amenities and featuring a golf simulator. Other amenities will include a theatre with stadium seating, a fully equipped Internet Café, business center along with private breakout study rooms, tanning room and a premier exercise facility.
 
One-bedroom/one-bath, two-bedroom/two-bath, and four-bedroom/four-bath units will range from 571 square feet to 1,704 square feet. Floor plans feature an open concept design, reinforced by 10-foot ceilings on the ground floor.  All units will be fully furnished and will include washer and dryers, high-speed internet and flat panel HD TVs with DVR service. Modern kitchens will include stainless appliances, pendant lights, granite countertops and islands with seating.
 
25Twenty is only part of an overall redevelopment of the northwest corner of Marsha Sharp Freeway and University Avenue (formerly the Town & Country shopping center). Tao Development Group, LLC, a Texas Tech Alumni owned company, is building a new eleven story mixed-use parking garage containing both retail and restaurant space. Residents of 25Twenty will park in the garage and utilize a sky bridge connecting both developments.

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Asset Plus Companies’ employees work with housing and young people day in and out. But this month, they are using their talents in a different way, to benefit abused, troubled and homeless children in the Fort Bend County area. Asset Plus and the Fred and Mabel Parks Youth Ranch (FMPYR) have started construction of the Youth Ranch Teenage Homeless Shelter, which is scheduled to open in September 2010.

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Student Housing Business magazine posed this question to industry experts in their March/April 2010 issue:

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