Cardinal Group and Parallel Awarded SHB Innovator Award for Best Package & Offering of Amenities for REV Northgate
DENVER, CO – May 22, 2024 — Cardinal Group, in collaboration with Parallel, is proud to have been awarded the Student Housing Business Innovator Award for Best Package and Offering of Amenities for REV Northgate. The Student Housing Innovator Awards celebrate excellence and innovation in student housing management. The award for Best Package & Offerings of Amenities recognizes the best community on factors such as breadth and depth of amenities, occupancy and rental rate success.
Located in College Station, Texas, REV Northgate, managed by Cardinal Group and developed by Parallel, offers luxury living with extensive amenities, including a 24-hour fitness facility, resort-style pool, jumbotron LED outdoor television, cashless smart market, bike storage with a repair station, and concierge package service. The community prioritizes residents’ needs, aiming to enhance academic, social, and recreational pursuits.
“At Cardinal, we have always been on a mission to enhance our residents’ experiences and offer unparalleled services, and we are thrilled to be recognized for it. Since its grand opening, REV Northgate has generated buzz and excitement within the College Station market due to its one-of-a-kind nature. Over 40% of the current residents have renewed for the 2024-2025 school year. Rev Northgate stands as a testament to the fusion of luxury and academic-driven living.” shares Lane Johnson, Portfolio Manager, Cardinal Group.
Parallel, Kayne Anderson Real Estate, Rhode Partners, Rogers O’Brien Construction, and Levy Dykema played pivotal roles in the success of creating the award-winning community at REV Northgate. The project was developed by Parallel’s innovative strategic solutions in partnership with Kayne Anderson, Rhode Partners, and Levy Dykema. Together, these partners exemplified collaboration and excellence, contributing to REV’s recognition as a best-in-class community.
“The recognition of REV Northgate winning this award is truly humbling. It showcases the power of collaboration and the dedication of our valued partners. This acknowledgment is a testament to our team’s commitment to creating exceptional living spaces that enhance communities and enrich our residents’ lives. We celebrate this honor and remain steadfast in our mission to continue to develop the best in class student housing projects,” shares Kristen Penrod, Principal at Parallel.
To learn more about the SHB Innovator Awards, visit 2024 SHB Innovator Awards website.
About Cardinal Group Companies
Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, development, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships focused on creating efficiency and above-market performance via their commitment to challenging the status quo of the industry. To date, Cardinal Group Companies has developed several best-in-class initiatives, which have earned the company national recognition year after year. Cardinal Group Companies’ management platform oversees over 40,000 units nationwide, including 11,000 conventional and affordable housing units and over 90,000 student housing beds across the U.S., including Cardinal Group, Companies’ owned portfolio, and third-party managed properties.
To learn more about Cardinal Group Companies, please visit www.CardinalGroup.com
About Parallel
Parallel is an Austin-based real estate development firm specializing in delivering complex mid-rise and high-rise urban infill multifamily and student housing developments on time and on budget in some of the nation’s most competitive markets. To learn more, visit https://www.parallel-co.com/.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $15 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $35 billion alternative investment management firm with more than 40 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors. For more information, visit www.kayneanderson.com/real-estate/. (As of 3/31/2024)
Media Contact:
Cardinal Group
Ainsley Robinson
Email: Ainsley.Robinson@CardinalGroup.com