Park7 Group Company Profile

Background

Founded in 2010, Park7 Group is a New York City-based developer, owner, and operator specializing in large-scale, purpose-built student housing properties. The company has developed over $750 million in student housing assets across nine college towns in the United States. Park7 Group owns and manages more than 6,000 beds, with an additional 3,500 beds under construction, representing over $520 million in asset value. Furthermore, the company has more than 1,800 beds in various stages of acquisition, permitting, and approvals.

Key Strategic Focus

Park7 Group's strategic focus includes:

Core Objectives: To develop, own, and manage high-quality student housing properties that meet the evolving needs of students and educational institutions.

Areas of Specialization: Large-scale, purpose-built student housing developments in proximity to major universities and colleges.

Key Technologies Utilized: The company employs advanced construction techniques and property management systems to ensure operational efficiency and resident satisfaction.

Primary Markets Targeted: College towns and urban areas with significant student populations across the United States.

Financials and Funding

Park7 Group is a privately held company and does not publicly disclose detailed financial information. However, it has developed over $750 million in student housing properties and owns and manages over 6,000 beds, with an additional 3,500 beds under construction, representing over $520 million in asset value.

Pipeline Development

Park7 Group has an active development pipeline, including:

The Avenue at Norman: A 895-bed, 314-unit property near the University of Oklahoma, offering a variety of floor plans and amenities.

Park Place Arlington: A 701-bed student housing project located one block from the University of Texas at Arlington, featuring 298 units and 9,000 square feet of ground-floor retail space.

Gateway at Seminole Suites: A 924-bed student housing community near Florida State University, Florida A&M University, and Tallahassee Community College, offering three and four-bedroom garden-style apartment layouts.

Technological Platform and Innovation

Park7 Group utilizes a diverse technology stack, including:

MySQL: For database management.

Shopify: For e-commerce solutions.

Google Workspace: For collaboration and productivity.

Google Tag Manager: For tag management.

These technologies support the company's operations in development, construction, leasing, marketing, and property management.

Leadership Team

Ron Gatehouse: Chief Executive Officer. Ron is responsible for the general management of each of the Group’s businesses, focusing on identifying and executing new business opportunities and ensuring that Park7’s standards of excellence are upheld.

Paul Levine: Executive Vice President, Development. Paul is responsible for identifying target markets and entitling specific land parcels for the firm’s development arm.

Beejan Savabi: Executive Vice President, Property Operations. Beejan is responsible for the operational performance of Park7’s portfolio of assets, analyzing the viability of individual markets, and managing the positioning of all new developments.

Stephen Sidorick: Senior Vice President, Construction. Stephen shares ultimate responsibility for all aspects of the design and construction of the firm's ground-up developments and contributes to the planning of all major capital projects for existing assets and potential acquisitions.

Competitor Profile

Market Insights and Dynamics

The student housing market in the United States is characterized by a growing demand for quality accommodations near educational institutions. This demand is driven by increasing student enrollment and a preference for off-campus living. The market offers opportunities for developers and operators who can deliver well-located, amenity-rich housing solutions.

Competitor Analysis

Key competitors in the student housing sector include:

EdR: A real estate investment trust (REIT) specializing in student housing, known for its large-scale developments and management of properties adjacent to major universities.

American Campus Communities: A leading developer, owner, and manager of student housing communities, offering a wide range of properties across the United States.

The Scion Group: A privately held real estate investment and property management firm specializing in student housing, with a focus on high-quality, amenity-rich communities.

Strategic Collaborations and Partnerships

Park7 Group has engaged in strategic partnerships to enhance its development capabilities, such as its joint venture with EdR to develop a $106 million, 723-bed student housing community in Pittsburgh.

Operational Insights

Park7 Group's operational strategy emphasizes:

Quality Development: Ensuring high standards in construction and design to meet the needs of students and educational institutions.

Integrated Management: Combining development, construction, and property management to maintain control over all aspects of the housing experience.

Market Responsiveness: Adapting to changing student preferences and market conditions to remain competitive.

Strategic Opportunities and Future Directions

Park7 Group is well-positioned to capitalize on the growing demand for quality student housing by:

Expanding its Development Pipeline: Identifying and acquiring new sites near major universities to increase its portfolio.

Enhancing Technological Integration: Implementing advanced property management systems and resident engagement platforms to improve operational efficiency and resident satisfaction.

Strengthening Partnerships: Collaborating with educational institutions and other stakeholders to create tailored housing solutions that meet the specific needs of students.