The student housing sector is not the industry’s Sleeping Beauty anymore. The number of students attending universities is growing and this is due mostly to the ease of obtaining loans. As a consequence, the demand for this type of accommodation is surging, which makes the segment appealing to investors. Sales volume almost quadrupled in the last six years, according to Rick Graf, president & CEO of Pinnacle, a Yardi client. According to Yardi Matrix data, Pinnacle Living owns and manages more than 150,000 units of which roughly 18,000 beds at 34 universities across the country, from San Diego to Syracuse, N.Y. In an interview with Multi-Housing News, Graf shares his view on the student housing industry, but also touches on what it takes for a property management company to stay ahead of the game in 2019. Tell us about your view of the multifamily market in general and the student housing sector in particular. What are the main trends? Graf: In general, the multifamily market remains robust. Demand has not lessened due to very strong job growth in nearly every market. With respect to the student housing sector, we continue to see institutional acceptance and desire to expand holdings into this niche subset of multifamily real estate. Transaction volume in student housing topped $11 billion in 2018, up from $3 billion just six years ago. It is important to note that student housing is significantly more management intensive and multifamily investors should be cautious to partner with operators with specific expertise in the nuances needed for success. Could you single out one trend that is gaining popularity in the student housing property management sector? Graf: A sea change has come to student development. While student housing properties rival high-end multifamily properties, the arms race of amenities has turned from wave...

Yardi announced today that Pinnacle has expanded its Yardi solution footprint, adding advanced ancillary services from the integrated Yardi suite of products to optimize its real estate marketing, leasing, financial and operational efforts with a single software platform. With an unwavering focus on exceeding expectations, Pinnacle sought a full business solution that would not only improve operational processes but help team members provide superior service to residents and also increase the value of each client’s investment. To achieve this, Pinnacle added products from the Yardi Multifamily Suite™ to its Yardi Voyager® platform and moved from their self-hosted environment into the Yardi cloud. According to Rick Graf, president and CEO of Pinnacle, “We require integrated best of breed solutions and a strong technology partner to provide our clients with unrivaled service and results. With Yardi, we have an all-in-one platform with mobility to meet our high management standards and surpass our clients’ expectations in the most cost-effective way possible.” He continued, “Yardi Voyager combined with RentCafe™, Yardi Resident Screening™, and Yardi Energy Solutions™ allows us to streamline our workflows through a single database for marketing, CRM, leasing, maintenance, accounting, utility billing, reporting, and more.” “We’re thrilled that Pinnacle has chosen the Yardi single-stack platform to achieve a full business solution that delivers a more competitive management offering,” said Terri Dowen, senior vice president of sales for Yardi. About Pinnacle Property Management Services, LLC Pinnacle Property Management Services, LLC is a privately held national real estate provider specializing in third-party management of multifamily residential communities. As one of the nation’s preferred third-party managers of multifamily housing, Pinnacle’s portfolio includes nearly 135,000 residential units and two million square feet of commercial assets. With corporate headquarters in Dallas, Texas, Pinnacle has 3,000 employees located in 35 states and...