This Tuesday: The Student Housing Playbook

Jared Hutter has spent the last several years building and operating purpose-built student housing at Tier-1 universities through Aptitude Development and their in-house brand, The Marshall.

Tuesday at 12pm ET Jared is opening up the playbook via a live 2-hour workshop that will cover:

• how he sources markets,

• quantifies demand down to the bed,

• underwrites deals, and

• structures capital stacks with institutional partners.

We’ll walk through live case studies from Aptitude's current portfolio, including ground-up developments at Arizona State (485 beds, 900 feet from campus, 25,000-bed market deficit) and SUNY Binghamton (516 beds, severe walkable supply constraints). Real underwriting models, rent assumptions, and cost structures.

For multifamily developers considering adjacent asset classes, the session covers the parts of student housing that don't transfer from conventional apartments: how per-bed leasing transforms unit economics (the same 1,200 SF that rents for $2,500 to $3,000 in multifamily generates $5,000 to $6,000 under a student housing program), how to pull enrollment and bed deficit data from public university sources, and why integrating development and management into a single branded platform drives 100 to 200 basis points of enhanced yield over third-party structures.

$299. All participants get the recording, slides, underwriting models, and access to our Circle community.

Here's what you'll learn

• Why PBSH outperforms conventional multifamily: How per-bed leasing transforms unit economics, why delinquency runs 1–2% versus 4–7% in traditional apartments, and what makes parent-backed leases and academic-calendar visibility so powerful for underwriting.

• How to underwrite student housing deals: Ground-up development and acquisition underwriting using real models — including yield-on-cost targeting, rent assumptions, cost modeling, and institutional exit pricing in the low- to mid-5% cap range.

• What makes a site and market investable: Walkability to campus, proximity to student nodes, zoning constraints, structural supply barriers, and how to evaluate markets through both a development lens and an operating lens.

• How to structure capital stacks and partnerships: How developers and institutional investors partner on PBSH deals — co-GP arrangements, promotes, platform-level partnerships, and why favorable financing reflects the category's collection reliability and outsized demand-to-supply dynamics.

• How to quantify demand using university data: How to access and interpret publicly available enrollment figures — by class year, residency, and program — to calculate true bed deficits, layer in shadow-market assumptions, and arrive at precise demand estimates market by market.

• Why controlling the brand matters: How integrating development and management into a single operating platform drives 100–200 bps of enhanced yield — and what that means for leasing cadences, staffing, amenity programming, and parent communication.

Reserve your spot now. Space is limited.

See you there!
–Brad & Paul