MultiVersity Housing Partners Acquires Union On 5th In Pittsburgh, PA
PITTSBURGH, March 31, 2020 /PRNewswire/ -- MultiVersity Housing Partners (MVHP) has been awarded management of Union on 5th, located steps from the campus of Duquesne University and less than 2 miles from University of Pittsburgh. MultiVersity Property Management (MVPM) will be overseeing the management of this Class-A student apartment property as well as all planned property improvements.
Union on 5th was converted into loft student apartments in 2016 and is made up of two-bedroom and three-bedroom apartments. The stylish apartments feature 20 ft plus ceilings, exposed brick walls, LVT and ceramic flooring, stainless steel appliances and are fully furnished. The property is 98% leased for the 2019-2020 lease term (school year).
MultiVersity Property Management ("MVPM") has been appointed property manager, and will bring their forward-thinking approach and expertise in property management to maintain the assets position as Duquesne's premier student housing option. As part of the property improvements, MVPM will be redesigning the lobby, relocating the office and leasing area, adding study space, renovating the hallways, added Luxer One package locker and constructing additional beds.
Union on 5th residents will be pleased with the hands-on approach of the MVPM team. MVPM prides itself on attention to detail and best in class customer service. An innovative and exciting resident retention platform will be implemented immediately.
"We look forward to adding our professional and hands on approach to this incredible asset. With MVPM's oversite the property improvements that we have planned will take this asset to the next level," Christopher Feeley, Managing Partner of MultiVersity Housing Partners and MVPM. "We are excited to enter the Pittsburgh market, as Pittsburgh is home to our Operations team and office. We look forward to building a large presence in Pittsburgh and the evolving uptown neighborhood in particular," Anthony Magnelli, Principal of MultiVersity Housing Partners and MVPM.
MultiVersity Property Management ("MVPM") is the property management division of MultiVersity Housing Partners. MVPM's mission is to become the recognized leader in its targeted markets for property management services. The guiding principal of MVPM is to treat each property as its own, and to remember that each property is its own individual business first and foremost.
MVPM operates with a total focus on its managed properties and owners/customers. MVPM provides a solid offering of services that fit the needs of today's resident (whether a resident in a market rate apartment or student housing property) while at the same time focusing on owner requirements and expectations.
If you would like more information about this topic, please contact Anthony Magnelli at amagnelli@mvhp-llc.com.