WEST LAFAYETTE, IN – November 11, 2024 – Today, LV Collective, a national real estate developer, announced its newest mixed-use residential development in West Lafayette, Indiana.
LV is partnering with Harrison Street, a leading investment management firm focused exclusively on alternative real estate assets with nearly $56 billion in assets under management and obtained financing from Pacific Life, a financial services company, on the project.
Located in West Lafayette’s Levee District, Rambler Levee District is less than a half mile from Purdue University.
“We are excited to partner with exceptional investors, Harrison Street and Pacific Life, to bring LV’s curated, experience-based housing to West Lafayette,” said LV Collective President of Student Housing, Jonathan Reyes.
The 799,289-square-foot project is planned to feature two buildings for a total of 583 apartments.
“We have acquired several LV properties in the past, and through that experience developed a strong relationship with the team and an appreciation for the way they approach housing. We believe that approach, deftly balancing institutional quality with fresh and market relevant design, will prove to be a competitive advantage in West Lafayette. We are excited to be partnered with the LV team and look forward to growing the partnership with them in the coming years,” said Justin Gronlie, Managing Director and Head of Student Housing at Harrison Street.
“We have a long-standing relationship with LV Collective and are proud to provide development financing on another remarkable asset in West Lafayette,” said Pacific Life Director, Nick Brown.
Rambler will offer a top of market suite of amenities in both buildings, curated for the West Lafayette and Purdue lifestyle. The development will feature dedicated coworking spaces with private study / conference rooms, a clubroom, multiple pools, internal courtyards, fitness facilities, a yoga studio, a fitness-on-demand studio, saunas, and a resident lounge. The project will be centered around a 20,000-square-foot public plaza and greenspace at the ground level, providing residents direct access to retail and outdoor seating and creating a neighborhood center for the West Lafayette community. The property is also planned to feature 15,600 square feet of retail space.
“At LV Collective, we approach each project with passion and energy and elevate the neighborhoods and communities where we develop. Rambler will offer our design-forward living experience for the Purdue and West Lafayette community and embrace the public realm of the Levee District,” said LV Collective CEO, David Kanne.
Site work on Purdue will begin in the fourth quarter of 2024 and the property is scheduled to deliver Fall 2027.
Project partners include Landmark Properties, Inc., an Indianapolis-based real estate development group, WDG as the architect, Brinkmann Constructors as the general contractor, Variant Collaborative for interior design and DLA Piper provided legal counsel. TSB Capital Advisors consulted on construction financing.
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About LV Collective
LV Collective is an Austin, Texas-based real estate investment firm focused on acquiring, developing, and managing high-quality real estate in superior locations throughout the United States. Since its founding in 2012, LV Collective has expanded the business to include student housing and multifamily assets in excess of $6 billion. For more information, visit: https://lvcollective.com/about. For renderings, logos, headshots, and additional media assets, visit: https://lvcollective.canto.com/.
About Harrison Street
Harrison Street is one of the leading investment management firms exclusively focused on alternative real estate assets. Since inception in 2005, the Firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The Firm has invested across senior housing, student housing, build-to-rent, healthcare delivery, life sciences and storage real estate, as well as social, utility and digital infrastructure. Headquartered in Chicago and London, with offices throughout North America, Europe and Asia, the Firm has more than 290 employees and approximately US $56 billion in assets under management on behalf of institutional investors across the globe. Harrison Street was awarded Best Places to Work by Pensions & Investments for nine years (2014-2020, 2022, 2023) and since 2019 has won 15 awards from PERE, including three for the 2023 Awards: Alternatives Investor of the Year – Global, Data Centers Investor of the Year – North America, the ESG Firm of the Year – North America. Harrison Street did not pay any compensation in exchange for the aforementioned awards. For more information, please visit www.harrisonst.com. Assets under management (“AUM”) reflects AUM for the Firm’s investment advisory and asset management clients.
About Pacific Life
Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workplace benefits, and reinsurance markets achieve financial security. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative life insurance and annuity solutions, as well as mutual funds, that provide value and financial security for current and future generations. Supporting our policyholders for more than 150 years, Pacific Life is a Fortune 500 company headquartered in Newport Beach, California. For additional company information, including current financial strength ratings, visit www.PacificLife.com.