The Preiss Company Acquires Two Raleigh Multi-Family Complexes

Edition on Oberlin and The Greens at Tyron Bring Company’s Raleigh Portfolio to 12

RALEIGH, N.C.–(BUSINESS WIRE)–Officials at The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, and a private equity real estate fund advised by Crow Holdings Capital, today announced the acquisitions of the 203-unit Edition on Oberlin and the 264-unit The Greens at Tryon. The Greens at Tyron will undergo a multi-million capital improvement plan, while Edition on Oberlin was completed in 2020 and required no immediate capital improvements.

“The closing of this transaction marks our third conventional multi-family deal this year,” said John Preiss, chief investment officer, TPCO. “This continues our active growth strategy, having closed recently on Legacy Oaks in Knightdale in April. The Preiss company has traditionally been a purpose-built student owner, operator and developer. In 2021, we decided to diversify our portfolio and add conventional multi-family. Since then, we have acquired 195 million conventional multi-family projects.”

The Greens at Tyron

Nestled among the fairways of the Raleigh Golf Association Course just off Tyron Road at 2805 Par Drive, the Greens at Tyron features scenic views, two ponds and a gazebo. Amenities include picnic and grilling area, resort-style pool, bocce ball and cornhole game courts, resident lounge and billiards, tennis court, 24/7 fitness center, cybercafé, pet park, custom car care center and 24-hour package locker concierge. The complex provides spacious 1-, 2- and 3-bedroom, pet-friendly apartments featuring gas log fireplaces, lofty 9-foot ceilings, open concept kitchens with breakfast bar and all major appliances, modern wood-like floors and a full-size washer and dryer. Select units boast designer spiral staircases, vaulted ceilings and private patios and balconies, and upgraded, renovated floor plan options also are available.

The renovation plans include refurbishing all units with upgraded flooring, countertops, light fixtures, kitchen appliances and upgraded bathrooms. TPCO also plans a major rehab of the clubhouse and amenity areas. Additional information can be found at www.thegreensattryon.com.

Edition on Oberlin

Formerly known as Trilogy Cameron Village, The Edition on Oberlin is situated at 305 Oberlin Road. Proximate to Raleigh’s finest shopping, dining and entertainment, the complex is within walking distance of the Village District and a short commute to Research Triangle Park. Units come in 1-, 2- and 3-bedroom apartment homes and townhouses. Each unit comes with chef-inspired kitchens featuring stainless steel appliances, granite countertops, wood-look flooring and modern accents. Carpeted bedrooms provide walk-in closets with custom wood shelving, walk-in showers, oversized tubs and a private outdoor space. Additional amenities include a resort-style pool with spacious sundeck, courtyard and fully equipped wellness center with state-of-the-art gym equipment. To learn more, please visit www.editiononoberlin.com.

About The Preiss Company

Celebrating its 33^rd year, Raleigh, North Carolina-based, The Preiss Company specializes in the development, acquisition and management of off-campus student housing. The company is ranked in the nation’s top 10 of the largest, privately held, student housing owner-operators. For more information, visit www.tpco.com.

About Crow Holdings Capital

Crow Holdings Capital is a real estate investment management company of Crow Holdings. Led by a highly experienced team, Crow Holdings Capital manages $11 billion of real estate assets through its series of nine flagship value-add funds invested across property types in the United States, as well as its specialized fund strategies for retail, self-storage and multifamily. Crow Holdings is a privately owned real estate investment and development firm with a 70-year history and a strong track record of performance, partnership and innovation. For more information, please visit www.crowholdings.com/chc.