ANN ARBOR, MI – LV Collective, a multifamily and student-oriented real estate developer, announced the closing of its newest luxury student-oriented multifamily development in Ann Arbor, Michigan.
LV is partnering with Harrison Street, an investment management firm focused exclusively on alternative real assets with nearly $56 billion in assets under management and obtained financing from Kennedy Wilson and Forum Investment Group on the project.
TSB Capital Advisors consulted on construction financing.
Rambler is across the street from the University of Michigan campus.
“We are proud to partner with Harrison Street, Kennedy Wilson and Forum Investment Group to bring LV’s design-forward student housing to Ann Arbor. This collaboration is a testament to our shared commitment to deliver exceptional experiences for our residents,” said LV Collective President of Student Housing, Jonathan Reyes.
The 484,587-square-foot project will feature 273 apartments with a mix of studio, 1-, 2-, 3-, 4-, 5- and 6-bedroom units, offering a total of 1,009 beds.
“We’re grateful for the opportunity to partner with LV Collective again and look forward to bringing another development to life in Ann Arbor,” said Harrison Street Head of Student Housing Transactions-North America, Justin Gronlie.
“Forum’s financing supporting the land acquisition and now vertical development of Rambler Ann Arbor perfectly aligns with our strategy to provide creative debt solutions for highly qualified developers,” said Joe Chickey, Managing Director – Private Credit at Forum Investment Group. “We are thrilled to continue our partnership with the LV Collective team on another highly amenitized student housing project, and to partner with Kennedy Wilson again on delivering another whole loan financing solution to our client.”
“Our loan for the construction of Rambler Ann Arbor underscores Kennedy Wilson’s commitment to helping address the high demand for student housing in one of America’s most prestigious and rapidly growing university communities,” said Thomas Whitesell, Head of the Debt Investment Group at Kennedy Wilson. “With the University of Michigan’s rising enrollment and Ann Arbor’s status as a premier college town, creating high-quality living spaces that match this growth and enhance students’ overall experience is essential. This senior construction loan aligns with our goal of supporting notable student housing sponsors in key markets where demand far outpaces supply, and where we have the opportunity to positively impact greater university communities.”
Rambler Ann Arbor will offer a large suite of amenities that are curated to support physical, mental and emotional wellness. The ground floor will feature an active lobby, including an integrated café, Daydreamer, which will serve handcrafted espresso drinks, coffee, and tea. The study mezzanine will offer spaces for coworking and private study rooms. Residents can enjoy outdoor terraces, a clubroom and gameday lounge, a rooftop pool and hot tub. Rounding out the wellness amenities, Rambler will include a fitness facility with state-of-the-art equipment, a yoga studio, a flex studio, red light sauna and a resident lounge.
The project will also pursue LEED Gold certification and make a payment of $7.25 million to the city’s affordable housing fund.
“Our goal is to enrich the lifestyle of every person who spends time in our spaces,” said David Kanne, LV Collective CEO.” “We’re intentional about creating experience-based environments that encourage personal growth and foster the formation of relationships and memories, and we’re excited to deliver a home for U-M students that supports their success in every way.”
Site work on Rambler began in October 2024 and the property is scheduled to deliver Fall 2027, in time for the 2027-2028 academic year.
Project partners include Turner Construction Company as the general contractor, Oz Architecture as the architect, Variant Collaborative for interior design, Site Design Group for the landscape architecture, and Bodman Law + J Bradley Moore & Associates for the entitlements. DLA Piper LLP (US) provided legal counsel.
