New appointment is in line with real estate company’s goal to become 8th largest off-campus housing operator in the nation
RALEIGH, NC – August 26, 2008 – The Preiss Company (“TPCO”), the largest provider of off-campus student housing at North Carolina State University, Clemson University, Auburn University in Alabama, and the University of Texas in Austin and the second largest provider at UNC Charlotte, has appointed John Preiss to Vice President of the company’s New Business Development Group. Preiss has been with TPCO for 10 years and will be responsible for sourcing capital and debt, as well as increasing the company’s student housing footprint.
John Preiss graduated from College of Charleston and began working for TPCO in property management in 1998. In 2000, he became a fully commissioned sales broker and from 2002-2007, he was the top sales broker for TPCO. In 2007, John Preiss joined the Acquisitions and Development Team and was responsible for capital fund raising, as well as property sourcing. In that same year, he was awarded the Certified Commercial Investment Member (CCIM) designation by the CCIM Institute.
“Both debt and equity are going to be looking for an operating partner who has good student housing experience,” says Donna Preiss, TPCO founder and CEO. “Many of the larger student housing providers have grown too fast and are over leveraged. Having benefited from consistent and controlled growth, The Preiss Company is ideally positioned to continue its leadership role in the student housing industry. John’s appointment to our New Business Development Group fits into these strategic goals of helping investors grow NOI on our projects while giving our tenants an enhanced living environment.”
John Preiss says that he hopes to continue to grow TPCO’s student housing business in acquisitions, developments, and third-party management. “Every market creates an opportunity,” says John Preiss. “We have been working in the past year to create a scalable platform together with consistent and well allocated equity and debt partners. Our efforts have been successful and we feel energized as we continue to talk to sellers, bankers and owners about acquisition and third party management opportunities. We anticipate a busy 12 months.”
John Preiss adds that the biggest obstacles in the market place are fear, uncertainty and doubt. He forecasts that the market will present opportunities this year not seen in the past four years.
About The Preiss Company
Founded in 1987 by Donna Preiss, TPCO employs over 145 team members and provides a wide range of services including acquisition, property management, due diligence, construction management, development, and consulting for multi-family real estate investments. TPCO is currently the 12th largest off-campus student-housing provider in the nation with $350,000,000 in student housing property and acquisition. Beginning its 22nd year, TPCO has formed over 50 partnerships and has been the developer or co-developer of over 20 projects stretching from Texas to Maryland. For more information, visit www.tpco.com.