Centricity: Simplifying Centralization

Student Quarters, a Top 25 owner and operator of student housing with experience in asset management, property operations, and development, and Campus Advantage, an industry leader in student housing property management, consulting, and investment management, today announced the launch of Centricity, a new joint-venture company. Centricity provides property management companies in the multifamily and student housing industry with centralized support services essential to their operations.

“Campus Advantage and Student Quarters have been competitors in the student housing space for more than a decade,” said Mike Peter, President and CEO, Campus Advantage. “While we remain completely separate companies, we saw that the complementary nature of our key support platforms enabled us to instantly scale our operations by combining key functions, such as HR and property accounting. In this format, our respective core property management operations and culture remain unique, while we join forces to create a central hub for essential community solutions. It’s a win-win, and we believe it provides a needed solution to others in the student housing and multifamily industry.”

Leveraging more than 30 years of combined industry experience, Centricity offers support solutions for key property management services, allowing companies to centralize their operations and maximize efficiency and ROI. Services include:

• Full-scale property accounting — Monthly financial reporting; basic accounts payable (AP) services; bank, balance sheet, and common area maintenance (CAM) reconciliation; financial audit support; and more
• Human resources — Participation in a robust Human Resources platform, including employee benefits, HR compliance, payroll, talent management, and more
• IT standardization, administration, and support
• Property insurance programs
• Limited-scope risk management services — Assessing risk to communities posed by residents, assisting with the implementation and administration of an insurance waiver program for residents, ongoing risk management, and mitigation services for communities.

The following diagram outlines the areas where Centricity will serve our two respective companies, as well as how the new company will serve its future clients in the real estate industry.

“Student Quarters and Campus Advantage have both always placed a high value on innovation, and with the founding of Centricity, we are proud of finding a groundbreaking way to bring even more value to our residents, employees, clients, and to the industry as a whole,” said Andy Feinour, President and CEO, Student Quarters.

Centricity will officially launch March 4, 2024. To learn more about our approach and complete suite of services, please visit https://www.centricityres.com.