FrontRange Capital announced today it made a $20 million Co-GP commitment to a programmatic joint venture with Fountain Residential Partners (“Fountain”). Fountain is a Dallas-based private real estate company specializing in the development of purpose-built student housing located across national markets, with products ranging from cottage style apartments to urban mid-rises. Since 2010, Fountain has developed nearly 7,400 beds with a total capitalization of over $650 million. Fountain’s current pipeline contains potential developments at Tier 1 and Tier 2 Research Universities that are projected to experience outsized rent growth due to growing university enrollments and an undersupply of beds. The investment is being made by the FrontRange Co-GP Property Fund, and Fountain will use the proceeds to invest in its growing pipeline of student housing developments.
About Fountain Residential Partners
Fountain Residential Partners is a privately held development and asset management company specializing in luxury, mixed-use, and affordable apartment homes in university and collegiate markets across the United States. Specializing in student housing since 2001, the principals of Fountain Residential have completed over $2 billion in new student housing construction across the country. For more information, please visit fountainresidential.com.