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CBG Completes Student Housing Community at University of Delaware

220 Apartments plus Amenities Deliver in Newark
July 18, 2016

NEWARK, De.—CBG Building Company completed construction today on One Easton, a 220-unit student housing community within walking distance of the University of Delaware. The first podium project ever constructed in Newark, One Easton includes both above-ground and underground parking and a host of student-targeted features and amenities. The property is jointly owned by Pinecrest Partners and The Bainbridge Companies.

CBG Completes Student Housing Community at University of Delaware Press Release Image

One Easton

"Our strategic focus at Pinecrest is to consistently provide students with top-quality housing in close proximity to leading university campuses," said Harry Perlmutter, director of marketing. "CBG's ability to coordinate its efforts with Bainbridge and Pinecrest so seamlessly has made all the difference in bringing this vision to life in Newark's student community."

One Easton residents can choose from a variety of two-bedroom floor plans, which include individual bathrooms, brand-new appliances, a 43" HD television, and a full cable and Wi-Fi package. Extensive outdoor amenities include an all-season courtyard with heated pavilion, fireplace, television, grills, and hammocks.

Inside, the property features a game room with pool table, ping-pong, and virtual bowling alley, as well as a study lounge, group project rooms, and computer center. The 24-hour fitness center contains cardio machines, weight equipment, a Crossfit area, and wellness bar.

One Easton is located a short walk from the University of Delaware's campus and Newark's business and entertainment districts, in proximity to bus routes, restaurants, cafes, and other services. The property is adjacent to the Newark Shopping Center, which is currently undergoing extensive renovations to become more contemporary and pedestrian friendly.

"We were thrilled to work with Pinecrest Parnters and The Bainbridge Companies on this vibrant community," said Keith Anderson, president of CBG. "We are proud of the quality of apartments and range of offerings One Easton provides for students at the University of Delaware."

One Easton features a number of sustainable elements, including the use of regional and low-VOC materials, water-efficient landscaping, and EnergyStar appliances in all units.

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About CBG Building Company

Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.

About Pinecrest Partners

Pinecrest Partners, formed in 2013, provides a focused, value-added investment strategy, supplying capital and expertise to create top quality, purpose-built student housing, in close proximity to tier-one universities with strong demographics throughout the U.S. Pinecrest executes its strategy through both joint ventures with highly qualified developers and operators, as well as through its own direct investment in housing developments. Pinecrest is an affiliated company of Perlmutter Investment Company, a multi-disciplined real estate investment company established in 1998. For more information, visit www.pinecrestUS.com.

About The Bainbridge Companies

The Bainbridge Companies is a leading owner, developer, and manager of luxury multifamily apartment communities in the Eastern United States. Founded in 1997, Bainbridge is a fully-integrated family of real estate companies engaged in the development, construction, management, and acquisition of residential and commercial real estate. The current Bainbridge portfolio ranges from luxury class AA to communities being repositioned with locations ranging from Miami northward to Long Island, New York. Bainbridge maintains regional corporate offices in Wellington, Flordia; Orlando, Florida; Cary, North Carolina; Washington, DC; and New York City. For more information, visit www.bainbridgecompanies.com.