|By PR Newswire||
|September 3, 2014 11:00 AM EDT|
Deal one of the largest by a non-REIT in 2014
WEST PALM BEACH, Fla., Sept. 3, 2014 /PRNewswire/ -- The newly formed joint venture between Calidus, Pebb Capital and Pragma Investments announced today that it purchased 3,155 beds at Florida State University, a four-year public university in Tallahassee, FL. The new company, Collegium Capital Partners ("Collegium"), paid $43.5 million for the beds and has set aside capital for a multi-million dollar renovation of the properties. CCRE, a commercial real estate finance company affiliated with Cantor Fitzgerald L.P., provided the acquisition financing as part of its new bridge lending program. The deal closed August 7, 2014 and is one of the largest acquisitions by student housing bed count so far this year.
There are approximately 10,000 on-campus student beds and 30,000 off-campus, purpose-built student beds in Tallahassee, a city that has over 70,000 students.
"This acquisition not only makes us one of the largest student housing providers in the Tallahassee market, it also is indicative of our willingness to tackle extremely complicated value-add projects," said Benjamin Macfarland, Chief Investment Officer of Calidus, and President of Collegium. "This is a great example of our focus to seek out new acquisitions with solid cash flow at an exceptionally low basis to give our investors the ability to make a great return."
The joint venture teams up three premier investors and operators of U.S.-based commercial real estate headquartered in Palm Beach County. Each member of the venture brings a particular skill set to the group. Calidus provides underwriting and asset management; Pebb brings capital, debt and equity resources; and Pragma oversees capital improvements and rebranding efforts. Collegium selected Peak Campus Management to provide full-service property management for the portfolio. With this management contract, Peak will manage nearly 35,000 beds nationwide.
"This acquisition will bring the Collegium student housing portfolio to approximately 6,000 beds with three additional closings scheduled for the second half of this year," said Todd Rosenberg, CEO of Pebb Capital. "Our plan is to help Collegium achieve its goals with a sophisticated, dedicated capital source to grow its holdings into one of the largest privately held student housing portfolios in the country."
Calidus Holdings (www.calidus.co) owns and manages U.S.-based commercial real estate assets working with some of the most prestigious family offices in Palm Beach, institutional investors and Wall Street lenders. Formed in 2011 Calidus its principals, Jonathan Cameron-Hayes and Benjamin Macfarland have closed over $125,000,000 in real estate deals in the last twelve months primarily in student housing, self storage, and office assets in multiple markets. The Calidus team is well established to identify, underwrite, and asset manage all types of real estate and report to the standards of large financial institutions.
Pebb Capital (www.pebbcapital.com) is a real estate private equity platform started in 2014 by Jeff and Todd Rosenberg, real estate developers and owners of approximately 2 million square feet of office and retail, over 200 acres of residential land and a combined 50 years of commercial real estate experience. Joined by Ian Horowitz, a former hedge fund trader and Carlos Jimenez a former commercial real estate banker, Pebb Capital leverages this combination of experience partnering with best in class sponsor relationships and co-investing in a wide variety of asset classes and geographies. The platform's goal is to invest the family's capital across a diversified investment portfolio with the predominance being invested in real estate. Since its inception in March 2014, Pebb Capital has already formed multiple joint ventures and closed approximately $100,000,000 in real estate transactions. Given the existing portfolio cash flow and liquidity, Pebb Capital continues to seek similar strategic partners to grow its holdings.
Pragma Investments (www.pragmainvestments.com) focuses on the acquisition of undervalued student housing properties that can be re-adapted to a unique college lifestyle brand of student housing that maximizes value by capturing the rapidly growing college market. Pragma's acquisition focus is on growing state universities. The principals of Pragma have completed over $500 Million in real estate transactions, value-add management, and maintain strong relationships with its targeted universities.
Peak Campus Management (www.peakcampus.com) is an institutional-grade property management company based in Atlanta, Georgia, focused exclusively on the student housing space. The Company's seasoned professionals offer the strategies and proven ability to execute on the goals and long term investment strategies for a diverse and growing number of real estate investors. Peak Campus Management currently oversees 66 assets at nearly 35,000 beds, with a combined valuation of nearly $2 billion for investors nationwide. For more information on Peak Campus and its full array of real estate solutions, please visit www.PeakCampus.com.
SOURCE Calidus Holdings
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Oct. 24, 2016 03:30 AM EDT Reads: 1,043
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 24, 2016 03:30 AM EDT Reads: 9,668
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Oct. 24, 2016 03:15 AM EDT Reads: 1,283
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 24, 2016 02:45 AM EDT Reads: 1,098
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 24, 2016 02:30 AM EDT Reads: 1,047
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 24, 2016 02:15 AM EDT Reads: 830
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 24, 2016 01:15 AM EDT Reads: 1,887
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 24, 2016 01:15 AM EDT Reads: 3,925
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Oct. 24, 2016 01:00 AM EDT Reads: 3,572
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 24, 2016 01:00 AM EDT Reads: 781
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
Oct. 24, 2016 12:45 AM EDT Reads: 1,347
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 24, 2016 12:45 AM EDT Reads: 964
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 12:45 AM EDT Reads: 2,481
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 24, 2016 12:45 AM EDT Reads: 760
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 24, 2016 12:15 AM EDT Reads: 884