The Preiss Company (TPCO), a leading student housing owner, developer, and operator, and FD Stonewater (FDS), a vertically integrated real estate firm, proudly announce the acquisition and capitalization of two student housing development sites, one in Knoxville, Tenn., and the second in Raleigh, N.C. These notable projects, which will be developed in partnership with Monarch Alternative Capital, a global investment firm, underscore the companies’ commitment to delivering high-quality student housing at tier one universities.
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The Preiss Company and FD Stonewater announced the acquisition and capitalization of two student housing development sites, Signature on Grand in Knoxville, Tenn., and Signature on Varsity in Raleigh, N.C., (rendering pictured) (Photo: Business Wire)
Signature on Grand in Knoxville, Tenn., and Signature on Varsity in Raleigh, N.C., are slated for a Fall 2027 delivery and will collectively provide over 1,200 beds of premier student housing in two of the nation’s most dynamic university markets. Strategically positioned near the University of Tennessee and N.C. State University, these developments will provide an elevated living experience with studio through five-bedroom floorplans featuring modern, high-end finishes.
“These latest development closings exemplify our commitment to strategic growth at top tier universities," said Susan Folckemer, Chief Acquisitions & Development Officer of The Preiss Company. “Our acquisition and development pipelines are strong; we have long-standing relationships with established and institutional partners and remain dedicated to developing, acquiring, and operating leading student housing communities across the nation.”
Both communities will offer extensive amenity packages, including resort-style pools, state-of-the-art fitness centers, multiple study lounges, and vibrant social spaces designed to foster connection and convenience. Signature on Grand will feature a sky lounge with city views, while Signature on Varsity will include a rooftop clubhouse and courtyard spaces.
“With strong supply and demand fundamentals, Knoxville and Raleigh remain compelling markets for student housing” said Ben Dineen, Principal and Director of Development of FDS. “These developments will capitalize on their prime locations and sought-after amenities, delivering a top-tier living experience for students seeking proximity, connectivity, and modern comforts.”
Equity for the project was sourced by Teddy Leatherman and Jayme Nelson of JLL, while debt and construction financing were secured by Ian Walker and Ben Roelke of Newmark.
About The Preiss Company
Celebrating 37 years, The Preiss Company, based in Raleigh, North Carolina, specializes in the development, acquisition, and management of conventional multifamily and off-campus student housing. The company is consistently ranked among the top 10 largest privately held student housing owner-operators in the United States. For more information, visit https://tpco.com.
About FD Stonewater
FD Stonewater is a vertically integrated, full-service real estate platform with national capabilities in development, investment, and brokerage. Collectively, the firm’s principals have been involved in more than $10 billion of investments and acquisitions, with a track record spanning more than $2 billion of active and completed development. For more information, visit https://fdstonewater.com.
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Contacts
Kasey Munsch, Vice President of Marketing
919-706-0668
kasey.munsch@tpco.com
