V
eteran developer Bill Bayless is teaming up with Pennybacker Capital Management to launch Maslow's Campus Communities, a national student housing venture. The company will focus on acquiring and developing outdated student housing near major universities across the US, as well as forming public-private partnerships with universities to update or replace on-campus housing.

    Bayless co-founded American Campus Communities, which he later sold to Blackstone for $12.8 billion. He is joined by Jennifer Beese, CEO of Maslow's, and William Talbot, Chief Investment Officer, who bring extensive experience in student housing, having overseen over $30 billion in transactions and 100+ public-private partnerships.

    Maslow's strategy includes partnering with universities to modernize on-campus housing infrastructure and acquiring off-campus student housing. The company is targeting Power Four conference schools and Carnegie Research One universities, including the University of Texas, where it sees opportunities in the West Campus neighborhood. Bayless notes that properties built 12-15 years ago could be repositioned through renovation.

    The company plans to prioritize creating learning environments with elements like classrooms and innovator labs, shifting away from resort-style multifamily design. Maslow's aims to modernize or replace outdated campus residence halls built in the 1930s and '40s, focusing on the academic experience.