Initial activities will focus on providing universities nationwide with Public Private Partnership solutions to modernize student housing infrastructure.
AUSTIN, Texas, Feb. 26, 2025 /PRNewswire/ — Maslow’s Campus Communities, LLC (Maslow’s), a real estate operating and development platform specializing in on- and off-campus student housing, and Pennybacker Capital Management, LLC (Pennybacker), a leading real assets investment manager, have formed a strategic partnership that will provide Maslow’s with capital to pursue investment strategies focused on Public Private Partnerships (P3s) with universities nationwide seeking to modernize on-campus student housing infrastructure, as well as the selective acquisition and development of off-campus communities.
Founded by student housing industry pioneer Bill Bayless in 2024, and joined by partners Jennifer Beese, Chief Operating Officer, and William Talbot, Chief Investment Officer, Maslow’s programs, designs, develops and manages communities to enhance affordability and foster students’ personal growth and academic success. The company aims to become the sole source housing provider for universities nationwide, focusing on tailored solutions that meet unique objectives and exceptional customer service.
Bill Bayless is no stranger to the student housing sector. He previously co-founded American Campus Communities (ACC) in 1993, successfully guiding it to a public offering in 2004. Bayless led ACC until its acquisition by Blackstone for approximately ~$12.8 billion in 2022. His experience uniquely positions Maslow’s to capitalize on emerging opportunities in the market. Jennifer Beese and William Talbot, also former executives at ACC, bring extensive industry knowledge, with the team collectively involved in over $30 billion in student housing transactions.
“After a comprehensive process to find the optimal capital partner for Maslow’s, it became clear to us that Pennybacker was the perfect fit,” stated Bill Bayless, Maslow’s CEO. He emphasized Pennybacker’s impressive track record and shared values regarding company culture and stakeholder outcomes. This partnership aims to foster confidence among colleges and universities through a solid financial foundation.
Pennybacker’s founder, Tim Berry, expressed enthusiasm about the collaboration, highlighting their commitment to advancing the legacy established by Bayless and his team. Berry pointed out that the strength of their partnership promises positive outcomes, impacting students, parents, and university systems positively.
The strategic partnership is designed to differentiate Maslow’s from its competitors via a vertically integrated approach, combining investment management, development, and operational expertise into a single, cohesive solution. They plan to establish dedicated investment vehicles tailored to each of Maslow’s business segments, with an initial emphasis on on-campus P3s. This approach ensures alignment with the unique objectives of colleges and universities and facilitates broad access to capital, including opportunities for third-party joint ventures.
About Maslow’s Campus Communities, LLC
Based in Austin, Texas, Maslow’s Campus Communities is a real estate operating and development platform specializing in a wide array of student housing assets—both on and off-campus. This firm also extends its expertise to workforce and attainable housing, addressing the needs of university faculty and staff. For further details, visit https://www.maslowscommunities.com.
About Pennybacker Capital Management, LLC
Pennybacker Capital Management, located in Austin, Texas, maintains offices across several major cities, including Denver, New York, Dallas, and Charlotte. With approximately $4 billion in assets under management, the firm employs real estate and infrastructure strategies, utilizing varied investment vehicles across the capital spectrum. More information is available at https://www.pennybackercap.com.
For additional inquiries about Maslow’s, please contact the firm through [email protected]
For inquiries about Pennybacker, please reach out via [email protected]
Disclaimer
This press release is for informational purposes only and is not intended as a solicitation, offer, or recommendation to buy or sell any securities or investments…
1Includes career transactional volume for Maslow’s executive team members across development, acquisitions, dispositions, joint ventures, and the ACC/Blackstone take-private transaction of approximately ~$12.8 billion.
SOURCE Pennybacker Capital Management, LLC
