Opus Group: Announces plans to build new private student housing development near Marquette
Contact: Elizabeth Hummitzsch
80-unit private student housing development to be complete in summer 2014
MILWAUKEE (July 24, 2013) – The Opus Group announced today that the Wisconsin office of Opus Development Company, L.L.C. (Opus) plans to develop and construct a new student housing development near Marquette University’s campus. Harrison Street Real Estate Capital, LLC, a Chicago-based real estate investment management firm, will own the project.
“We look forward to drawing upon The Opus Group’s national expertise in student housing to benefit the students at Marquette,” said Julie Ledger, vice president and general manager of the Wisconsin Office of Opus Development Company, L.L.C. “We are excited to provide high-quality amenities to residents and additional retail options to members of the community.”
Conveniently located at 1400 W. Wells St., near the Marquette University campus, the six-story private student housing development will include numerous amenities for tenants including in-unit washers and dryers, indoor parking, a fitness center, study rooms and social areas. The 7,500 square feet of ground-floor retail space will include a Subway restaurant and other retailers yet to be announced. Sweeney’s College Books will relocate to 1100 W. Wells St. on the first floor of the Catholic Financial Life building.
“We’re very excited to be developing in Milwaukee with such a highly regarded group as Opus," said Brian Thompson, senior vice president at Harrison Street. "Building a walkable, student-focused development near a Tier 1 university like Marquette is consistent with our broader strategy.”
The development is scheduled to break ground in August and will be open for the 2014 school year. For leasing information, please call 414-326-9100.
Opus Development Company, L.L.C. is the developer, Opus Design Build, L.L.C. will manage the design and construction of the building. Korb Tredo Architects is the project architect.
About The Opus Group
The Opus Group® is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries; Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in office, industrial, retail, residential living, institutional and government projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com.
About Harrison Street Real Estate Capital, LLC
Harrison Street Real Estate Capital is a Chicago-based real estate private equity firm that was founded in 2005 and currently has more than $5.0 billion in assets under management through private equity funds and public securities products. The firm, on behalf of Harrison Street Real Estate Partners I, II, III, IV and the Core Property Fund, currently owns approximately $4.5 billion in real estate assets, including approximately 28,000 student housing beds, more than 7,000 senior housing/assisted living units, in excess of 1.6 million square feet of medical office space, more than 68,000 self-storage units, and more than 4,100 dry and wet boat storage slips.