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Where will my child live when they go to college? Many students, after their freshman or sophomore years, will be living in off-campus housing. This week Richard and Joe interviewed Fred Pierce, President and CEO of Pierce Education Properties (PEP) – a leading national student housing investment and operating company. Fred is an expert in student housing and nationally known as a leader in student housing and educational real estate. In addition to student housing, Fred shared his expertise in development in San Diego and the potential development of the Charger’s stadium site.
Where will my child live when they attend College?
In 1995, Fred was presented with the opportunity to be the master developer of all the land around San Diego State University, commonly known as the College Community Redevelopment Project. Based solely on a 90 day contract to put together a business plan, he quit his job to put together the business plan and ultimately won the contract for the development project to be master developer of the SDSU Redevelopment project for SDSU Foundation, including the construction of Fraternity Row and the Piedra del Sol student apartment complex. Pierce Education Properties took its platform national in 2006. With a portfolio of approximately 13,000 beds valued at nearly $600 million, PEP was ranked among the Top 15 owners of student housing in the U.S in 2016 by Student Housing Business Magazine. Since 2007, PEP has completed $825 million in acquisitions representing approximately 20,000 beds, ranking it among the Top 10 buyers of student apartments in the country during that period. For 10+ years, the firm served as master developer of the award-winning, 131-acre, $1+ billion College Community Redevelopment Project at SDSU together with SDSU Foundation. PEP has earned numerous national and international awards for its projects including three Gold Nugget Awards of Merit from the Pacific Coast Builders Conference (PCBC) and the Award of Excellence as The Outstanding University Real Estate Project in the country from the Association of University Real Estate Officials (AUREO).
Mr. Pierce currently serves a Chairman of SDSU’s Fowler College of Business, as well as a board member of the Corky McMillin Center for Real Estate, the Aztec Club, and the SDSU Alumni Association (where he is a past president). He is also a former trustee of the California State University. Mr. Pierce was named one of 24 national “Student Housing Pioneers” by Real Estate Forum (2013), has received Ernst & Young’s San Diego Region “Entrepreneur of the Year” Award for the Real Estate & Construction Industry (2012) and was named one of “100 Influential Leaders in San Diego” by the San Diego Daily Transcript (2016). Fred was awarded the Distinguished Alumni from San Diego State University’s College of Business Administration (1999).