Farbman Group expands to student housing sector

Farbman Group, a Southfield-based commercial real estate firm, has expanded its services within the student housing sector.

The firm announced Monday the launch of Campusville, a division focused on off-campus student housing property management and maintenance.

“It sort of dovetails out of Farbman and their historic way of approaching commercial real estate,” Andy Gutman president of Farbman Group told the Detroit News. “Farbman Group is always proud to say we’re a full-service commercial real estate group. Campusville is intended to be that full-service commercial real estate for student housing. So it really incorporates property management, maintenance, development, construction and investment sales. … A full service, seamless solution to tenants and students, to the parents. Anyone involved in student housing.”

The move comes as there is more of a shift toward hybrid online and classroom learning in college settings, according to Farbman Group. The program focuses on amenity-filled housing developments.

“If it’s an apartment complex, it might be having a pool, a weight room … meeting rooms where they can hang out, a theater area where they can watch shows,” he said. “It’s driving services to the front door for them. Putting in a fitness center. I believe that’s kind of the future how students will want to live. They’re flocking to more heavily amenitized options.”

The company has several properties in its management portfolio currently, Gutman said, with the largest property being a fully occupied 1,750-bed student housing development with retail and parking in East Lansing serving Michigan State University.

The firm also manages student housing in the city of Indiana, Pennsylvania, and has plans to grow throughout the Midwest, Gutman said.