INDIANAPOLIS (May 10, 2022) – The Annex Group®, a leading workforce, affordable and student housing developer, in collaboration with Eastmark Capital Group, a real estate acquisitions and development company, announce plans to develop a new student housing community in Pullman, Washington. Funding for The Annex of Pullman has closed, and construction is now underway. The $47.78 million community will sit on nearly 10 acres of land at 1555 NE Northwood Drive, Pullman, WA 99163. It will be located adjacent to the north side of the Washington State University campus and is within walking distance to the university’s new recreational center. The Annex of Pullman will feature 204 units with 399 beds with apartments offering one, two, three and four-bedrooms.
“We’re so excited to bring this property to students at Washington State University,” said Kyle Bach, CEO of The Annex Group. “We’ve specifically-designed the layouts with today’s college student in mind. Bedrooms are designed with enough space to include desks to accommodate virtual learning. There will also be balconies on the ends of exterior corridors to offer more outdoor access. We’re hopeful these design aspects will make a meaningful difference to students looking to get more out of their college experience.”
The Annex of Pullman will be a 3-story, garden-style community featuring abundant amenities, including: fitness center, study rooms, bicycle parking, clubhouse with kitchenette, outdoor patio, and ample parking. The community will be a quick two-minute walk to the edge of the Washington State University campus, and within a five-minute drive to commercial shopping and downtown Pullman.
Partners on the project include: Eastmark Capital Group, as development partner alongside The Annex Group, investors on CrowdStreet, who alongside The Annex Group and Eastmark Capital Group provided a combined $15.60 million in equity, Citywide Banks, a member of Heartland Financial USA, Inc. (NASDAQ: HTLF) that operates under the brand name HTLF, which provided $32.18 million in construction and permanent financing, SynTier Engineering for engineering, and CUBE 3 for architecture, interior design and planning.
The Annex of Pullman is expected to be completed in the fall of 2024.
To learn more about The Annex Group, visit www.theannexgrp.com.
To learn more about Eastmark Capital Group, visit http://www.eastmarkcapitalgroup.com/.
ABOUT THE ANNEX GROUP
The Annex Group is a leading workforce, affordable and student housing developer with a focus on providing innovative, amenitized housing in emerging markets throughout the United States. The Annex Group encompasses a vast portfolio of communities valued at more than $500 million. Serving as a catalyst for economic development, The Annex Group has overseen over $1 billion in commercial projects including redevelopment and ground-up construction. The Annex Group is proudly headquartered in Indianapolis, Indiana. To learn more about The Annex Group, visit www.theannexgrp.com or follow them on Facebook and LinkedIn.
ABOUT EASTMARK CAPITAL GROUP
Eastmark Capital Group is a real estate acquisitions and development company focused on creating unique living environments throughout the western United State. Eastmark’s keys for a successful community include excellent location, quality construction and thoughtful design. Their goal is to transform thew ay residents engage with their neighbors and living environment. The company embraces the opportunity to create special properties that add to the fabric of the community while facilitating resident engagement and enhancing their living experience through learning and collaboration. To learn more about Eastmark Capital Group, visit http://www.eastmarkcapitalgroup.com/.
CrowdStreet, the largest online private equity real estate investing platform, provides individual investors direct access to a diverse range of institutional-quality investment opportunities. Investors benefit from real estate investment education combined with the ease and convenience of online investing through an advanced marketplace. Sponsors benefit from a highly efficient way to tap individual investors to raise capital and manage investor relations. To date, sponsors have raised more than $3 billion on CrowdStreet for more than 600 projects. CrowdStreet is helping to create a community where individual investors and experienced real estate firms can work together to expand participation in real estate investing with the goal to build wealth. For more information, visit https://www.crowdstreet.com/.
ABOUT CUBE 3
Established in 2003, CUBE 3 quickly became one of the fastest growing companies in the design industry. Today, we are well-known nationally as a design industry and innovation leader, providing thoughtful, individualized solutions for a wide range of architectural, interior design and planning challenges. Headquartered in Lawrence, MA, with additional offices established in Boston, MA and Miami, FL, our work can be seen in over 26 states across the country. Listed as a top 500 global firm by ENR and ranked by Inc. 500 5000 for five consecutive years, we have a history of working with only the strongest development teams on diverse projects including mixed-use and campus masterplanning, health care, retail, residential and corporate office space.
Heartland Financial USA, Inc., operating under the brand name HTLF, is a financial services company with assets of $19 billion. HTLF’s banks serve communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Wisconsin. HTLF is committed to its core commercial business, supported by a strong retail operation, and provides a diversified line of financial services including treasury management, commercial real estate, residential mortgage, wealth management, investment and insurance. Additional information is available at htlf.com.