On Jan. 5, Inland American Communities (IAC) purchased the LEED Gold Certified student apartment complex known as Asbury Green. Asbury Green will be rebranded as University House.

While IAC Vice President of Marketing Rachel Kihn said University House is currently pre-leasing for fall 2015 and will offer low rates, she also said IAC is not entirely sure how the change in ownership will impact rental rates in the upcoming school year.

“University House will evaluate [current] rates based on the supply and demand in the student housing market,” said Kihn.

IAC is a company that strives to create authentic communities in university markets throughout the U.S., according to Kihn.

“Inland American Communities is a development, acquisition and management company dedicated to creating authentic communities in university markets in the U.S.” she said.

IAC plans to make multiple upgrades to the property as well as implement its own Maverick Program, which integrates students into the workplace to create events for the community.

“University House communities are managed to the highest standards with an emphasis on customer service in order to provide the ultimate student living experience,” said Kihn. “Our industry-recognized Maverick program consists of student workers that are constantly creating community-wide events.”

Before making the purchase, IAC debated buying either Asbury Green or Vista Lofts, but was especially interested in Asbury Green, according to Kihn.

“We determined the stronger opportunity was Asbury Green based on its age, design, amenities, closer proximity to the University as well as strong retail neighborhood options,” she said. “Asbury Green also was well-managed and had a good reputation among its current residents.”
IAC was also interested in Asbury Green because of its proximity to campus.

“With a growing number of students attending the University of Denver, we saw the purchase of Asbury Green as a strategic acquisition in our growing portfolio,” said IAC President Travis Roberts. “The proximity to campus also suits our philosophy of developing and acquiring properties that are within walking distance to a university campus.”

Kihn believes that new management of University House will help it continue operating at a high level.

“We believe University House student housing communities are a step above other student housing options, as evidenced by the high levels of renewals, resident referrals, and the feedback received in our annual resident surveys,” she said.

According to Kihn, IAC currently owns properties in 13 states and over 20 communities, and is continuing to expand.

“We are continuously looking for development or acquisition opportunities that will create premier student housing communities that are near universities and offer the latest amenities for today and tomorrow’s students,” she said.

Students who are interested in pre-leasing for fall 2015 or that have any questions are encouraged to visit the University House website.