- Conserve Holdings acquired Auden Upstate, a 486-bed student housing property near the University of South Carolina Upstate.
- The deal underscores the firm’s focus on high-growth university markets and includes plans for significant capital improvements.
- PeakMade Real Estate will manage the property, which offers modern student amenities such as a pool, fitness center, and study lounges.
Growing in the Carolinas
Conserve Holdings, a real estate investment firm focused on multifamily and adaptive reuse properties, has expanded its student housing portfolio with the acquisition of Auden Upstate in Spartanburg, South Carolina. The community serves students at the nearby University of South Carolina Upstate.
Strategic positioning
The 486-bed property includes a range of one- to four-bedroom units and amenities geared toward student living, including a resort-style pool, fitness center, clubhouse, and study lounges. The property’s proximity to the USC Upstate campus enhances its appeal for student renters.
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Planned upgrades
Conserve Holdings plans to roll out a capital improvement strategy aimed at upgrading unit interiors, enhancing community amenities, and launching new engagement programming. PeakMade Real Estate, a student housing specialist, will take over property management.
A sector with strong fundamentals
“Student housing is a sector with strong fundamentals, and this acquisition allows us to bring our value-add strategy to a growing university market,” said David Walkin, Principal of Conserve Holdings.
Financing and execution
The deal was facilitated by Barry Weiner of Capital Access, with financing provided by KeyBank Real Estate Capital, led by Rodney Shenman.
Looking ahead
This acquisition marks Conserve Holdings’ continued shift toward high-growth, education-focused markets in the U.S. Sunbelt and Mid-Atlantic regions. The firm’s multifamily expansion spans conventional, workforce, student housing, and mixed-use communities.
