Case Study: The Residences on College Hill
Cedar Falls, Iowa | 101 Units | Student Housing
Overview
The Residences on College Hill is a 101-unit student housing community located steps from the University of Northern Iowa.
Peridot acquired the property in February 2025 with a clear objective: stabilize operations, improve the resident experience, and unlock value through disciplined execution.
The Opportunity
At acquisition, the property presented significant operational and income upside despite its strong location adjacent to a major university.
Underperforming occupancy and operational inefficiencies
Opportunity to improve leasing strategy and tenant experience
Inefficient cost structure
Strong underlying demand driven by the University of Northern Iowa, where a majority of students live off-campus
The Strategy
Peridot implemented a hands-on, execution-focused strategy aligned with its Midwest operating platform.
Stabilize occupancy through improved leasing and marketing
Partner with the University of Northern Iowa to create a direct student pipeline
Implement targeted marketing initiatives to increase visibility and demand
Reduce operating expenses through vendor optimization and disciplined cost control
Leverage vertical integration to maintain control over execution and timelines
Execution
The business plan was executed efficiently and ahead of schedule.
Property improvements and operational changes completed faster than projected
Project delivered under budget
Leasing performance improved rapidly following acquisition
On-the-ground management allowed for immediate operational control and responsiveness
The Results
Through disciplined execution, Peridot successfully repositioned the asset and delivered strong outcomes for investors.
Occupancy improved from 75% on acquisition to 90% within the first twelve months of ownership.
Property stabilized within the first year of ownership
Increased asset value by over 40% within approximately 18 months
Improved overall operating performance and tenant quality
Successfully refinanced in 2026, returning investor capital and preferred return
Why This Worked
This investment reflects Peridot’s core strategy: focusing on Midwest assets where operational execution creates a measurable advantage.
Deep local market knowledge and proximity to demand drivers
Disciplined underwriting based on achievable improvements
Hands-on asset management and operational control
Established relationships with lenders, contractors, and vendors
Ability to execute quickly and efficiently through vertical integration
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