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Peak Campus and Blue Vista Break Ground On New Student Housing Development Near University Of Washington In Seattle’s University District

Feb 9, 2021

Peak Campus (“Peak”) and Blue Vista Capital Management (“Blue Vista”) recently broke ground and closed construction financing on Theory U District, a purpose-built student housing community in the University District of Seattle, near the University of Washington.

The project represents a continued expansion of Peak/Blue Vista’s Theory-branded development portfolio in major university markets. Construction financing will be provided by the Bank of Oklahoma (“BOK”). This marks the third time BOK, Blue Vista and Peak have partnered together on a student housing project.

Upon completion, Theory U District will be a seven-story, 441-bed mid-rise property offering a variety of unit layouts from studio up to five-bedrooms. The property is in a premier location near University Way Northeast (“The Ave”), Greek Village, and a new light rail station. The fully furnished units will include a mix of standard and premium offerings, with market leading features and finishes. The leasing and amenity spaces will showcase a two-story entry with abundant light, a well-appointed fitness center, business center, active ground-level courtyard, rooftop amenity deck with astounding Seattle views, gathering/grilling areas and an outdoor kitchen. The community will provide touchless/keyless entry throughout and parking in an adjacent garage.

“We are very excited to be under construction in the vibrant University District market with a well-conceived and differentiated project,” commented Jeff Githens, President of Development.

“The Theory U District development represents our commitment to bringing high-quality, purpose-built student living accommodations to university areas with limited options,” said Jason Schwartz, Managing Principal of Student Housing at Blue Vista. “At completion, Theory U District will offer students a modern, amenity-rich housing option that is walkable to campus.”

Theory U District will open in Fall 2022.

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About PeakMade Real Estate

PeakMade Real Estate, based in Atlanta, GA, is a diversified real estate services company, operating multiple brands for management, development, and advisory services for conventional multifamily and student apartments. PeakMade Real Estate provides support and infrastructure to its subsidiary companies, Peak Campus, one of the leading private developers and operators of student housing apartments in the U.S., and PeakMade Communities, a boutique conventional multifamily development and management company. The PeakMade Real Estate family of brands was built to execute on strategies consistent with the goals and long-term investment strategies of its partners.

About Blue Vista

Blue Vista is a Chicago-based leading real estate investment management firm dedicated to developing long-term relationships, serving investor interests, and delivering consistent performance through a rigorous academic and research-driven investment process. Blue Vista’s value-creating platform offers a national footprint in the U.S. and Canada, local operating expertise, and best-in-class investment strategies focused exclusively on student housing, middle market real estate and lending. Since the firm’s inception in 2002, Blue Vista has invested over $10.5 billion in total capitalized value through institutional real estate vehicles. For more information, please visit https://bluevistallc.com.

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