Pebb Capital taps Todd Benson to lead development and asset management

Benson is folding his student housing company into Pebb Capital

Miami /
Apr.April 05, 2019 04:30 PM

Todd Benson and a rendering of a Pebb Capital project in New York

Pebb Capital hired its student housing partner Todd Benson as a partner and managing director of development and asset management.

Benson is folding his company, Collegium Capital, into the firm as Pebb Capital Student Living. The student living division currently includes the acquisition and development of nearly 6,000 beds in 10 properties across the country.

The move is a sign of Pebb becoming more vertical. In addition to growing its student housing division, Benson will also work on Pebb’s Opportunity Zone funds, preferred equity platform and opportunistic investments.

Benson founded Collegium Capital in 2013, and partnered with Pebb a year later on acquiring and developing roughly 6,000 beds in Florida, Arkansas, Georgia and across the country. While it initially focused on state school markets, it later pivoted to building and buying properties near private universities, like a recently completed student housing project at 15 East 11th Street near New York University. It’s also working on a graduate student housing concept in an Opportunity Zone in Rhode Island.

The company is bidding on several properties in New York City, Benson said. Since Pebb Capital and Collegiate starting investing in student housing in 2014, there’s a lot more capital chasing the same deals, he added.

Pebb Capital is based in Boca Raton in the same building as Pebb Enterprises. Pebb Capital, led by Jeffrey Rosenberg, Todd Rosenberg, and Ian Horowitz, split off in 2014 from Pebb Enterprises. The companies still do business together. In November, they sold a retail center in Wellington to MetLife Investment Management for $74 million, with plans to invest the proceeds of the sale into Opportunity Zone sites.


Related Articles

arrow_forward_ios
Lennar Executive Chairman Stuart Miller (iStock)
“The home used to be just shelter. Now it is the hub of our entire lives”: Lennar reports strong Q4, full-year results
“The home used to be just shelter. Now it is the hub of our entire lives”: Lennar reports strong Q4, full-year results
Rent-to-own startup Divvy Homes expands to South Florida
Rent-to-own startup Divvy Homes expands to South Florida
Rent-to-own startup Divvy Homes expands to South Florida
Ben Schachter, Sean Black and Mike Pappas (Signature, Getty, Keyes)
Knock expands home lending program into South Florida 
Knock expands home lending program into South Florida 
Rendering of the project, Richard Paul Richman, Deme Mekras and Elliot Shainberg
Richman plans senior housing on Allapattah Opportunity Zone property
Richman plans senior housing on Allapattah Opportunity Zone property
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley
Baptist, Belmont gain approval for luxury senior living in Coral Gables
Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)
Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)
Sunrise affordable senior housing facility sells for $30M
Sunrise affordable senior housing facility sells for $30M
Mark Zilbert
Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...