The Opus Group® Announces Plans to Build New Private Student Housing Development Near UW-Madison

8/13/2013
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MADISON, Wis. - The Milwaukee office of The Opus Group announced today the collaboration with Harrison Street Real Estate Capital, LLC (Harrison Street), a Chicago-based real estate investment management firm, to develop and construct Varsity Quarters, a new student housing development adjacent to the University of Wisconsin-Madison campus. The project is a joint-venture partnership.

“This is a great location for a new development with its close proximity to Camp Randall Stadium, Union South, and other popular student destinations,” said Julie Ledger, vice president and general manager of the Wisconsin Office of Opus Development Company, L.L.C. “We are excited to provide a well located, high quality living environment to UW-Madison students.”

Located at 1423 Monroe Street, the former site of the popular Stadium Bar, the six-story private student housing development will include numerous amenities for tenants including in-unit washers and dryers; parking for cars, bikes and mopeds; a fitness room; study rooms; and a social/club room. The development will include approximately 7,500-square-feet of ground-floor retail space.

The project is scheduled to break ground this month and will be open for the 2014 school year.

Opus Development Company, L.L.C. is the developer and Opus Design Build, L.L.C. will manage the design and construction of the building. Eppstein Uhen 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 $5.5 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.