Cardinal Group Development and PGIM Expand Student Housing Footprint with Three Heyday Developments Nationwide

DENVER, CO – Friday, September 18, 2026 – Cardinal Group Development, a Denver-based real estate development firm, and PGIM, the global investment management business of Prudential Financial Inc., today announced the successful closing and groundbreaking of three student housing developments under Cardinal Group’s signature residential brand, Heyday. The projects will deliver more than 1,500 beds near major university campuses in Columbia, South Carolina; Champaign, Illinois; and Corvallis, Oregon.

The Heyday brand was created on the premise that the college years represent a once-in-a-lifetime window that deserves to be celebrated. Heyday properties are intentionally built boutique in size to foster an authentic sense of belonging and build a vibrant community where residents can truly thrive. Staff know residents (and their dogs) by name, and each community blends custom regional architectural narratives with hospitality-led amenities.

Portfolio Highlights & Groundbreakings

• Heyday Columbia (University of South Carolina): Located at 875 Catawba Street, this 7-story, 409,231 GSF development delivers 544 beds to the Gamecock market. Designed in partnership with ESG Architecture & Design, the property reimagines classic southern spirit through a modern lens. Amenities feature a pool and spa deck, an all-day coffee bar, and a dedicated wellness suite complete with saunas, red-light therapy rooms and specialized fitness zones.
• Heyday Champaign (University of Illinois Urbana-Champaign): Spanning two 7-story buildings and 525 beds, this dual-building project expands premier housing options in the UIUC market. Designed by Niles Bolton Associates and B2 Design Co, the interiors channel “Gold Coast Poise” – referencing classic Chicago social spaces with rich wine, olive, and clay tones. Highlights include a red-light therapy room, yoga studio, sauna, private library, game room, high tech golf simulator, and an elevated courtyard pool deck.
• Heyday Corvallis (Oregon State University): This 504-bed project captures the organic spirit of the Pacific Northwest. Designed by Niles Bolton Associates and Krywicki Interior Design, the property pairs moody natural woods, stone accents, and a suspended central fireplace in the lobby. Key amenities include a 7th-floor Sky Lounge with an integrated fireplace, private study portals, an on-site resident market, and a dedicated fitness room and outdoor yoga, sauna, and spa.

“Everything we do comes back to our core mission statement of building engaging communities where residents thrive, driven by a deep focus on hospitality,” said Ryan McBride, Head of Development at Cardinal Group. “The Heyday brand stands as our prime example of that commitment in action. By keeping these developments intentionally boutique, we ensure every property serves as a stage for lifelong memories while driving long-term value for our investment partners.”

“We continue to see compelling opportunities in student housing, particularly in markets anchored by large universities with durable enrollment trends and a need for high-quality, purpose-built communities,” said Soultana Reigle, Head of U.S. Equity for PGIM’s Real Estate investment group. “These developments reflect our strategy of investing in well-located assets where thoughtful design, strong sponsorship and resilient demand drivers can support long-term value for our investors.”PGIM’s Real Estate investment group is one of the world’s largest real estate investment managers, with $219 billion in gross assets under management and administration, and real estate professionals located in more than 30 cities worldwide. Through its full suite of real estate equity and debt solutions, PGIM aims to achieve exceptional outcomes on behalf of investors and borrowers. PGIM’s uncompromising commitment to building lasting relationships with clients is founded on trust, transparency, and mutual respect.

About Heyday
Heyday is a boutique residential brand developed by Cardinal Group. Built to transform student apartments into places of celebration, connection, and growth, Heyday combines custom local design with high-touch hospitality to create communities where residents truly belong. See our developments under construction that launched leasing in 2026 here: Heyday Blacksburg and Heyday Raleigh.

About Cardinal Group Management

Cardinal Group Management (Cardinal Group) is a fully integrated real estate management, investment, construction, consulting, 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 2006, 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 53,000 units nationwide, including 13,000 conventional and affordable housing units and over 110,000 student housing beds across the U.S., including Cardinal Group, Companies’ owned portfolio and third-party managed properties. To learn more, please visit www.CardinalGroup.com.

About PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.5 trillion in assets under management.2 PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions, including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

1 As of June 30, 2026. PGIM is the second-largest real estate investment manager (out of 63 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “The Largest Real Estate Investment Managers” list published November 2025. This ranking represents AUM as of 6/30/25. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.

2 As of June 30, 2026. Assets are rounded to the nearest full number.

Media Contact:

Cardinal Group
Email: pr@cardinalgroup.com