1) Coastal Carolina University is developing new campus buildings like the Academic & Office Building II and Science Annex II to support continued enrollment growth towards a goal of 12,000 students. 2) The university has approved new degree programs and the president will retire in 2021, passing leadership to a new incoming president. 3) Recent student housing developments near campus will add over 1,750 new beds by 2020 to absorb enrollment increases, but achieving the university's enrollment goal will be critical for the market.

1. COASTAL CAROLINA UNIVERSITY
2019 MARKET REPORT
U N I V E R S I T Y R E P O R T

2. DISCLAIMER
© Copyright 2019 All rights reserved. Information contained herein,
including projections, has been obtained from sources believed to
be reliable, but has not been verified for accuracy or completeness.
CBRE, Inc. makes no guarantee, warranty or representation about
it. Any reliance on such information is solely at your own risk. This
information is exclusively for use by CBRE clients and professionals
and may not be reproduced without the prior written permission
of CBRE’s Global Chief Economist.
BENJAMIN N. SKINNER
INVESTMENT ASSOCIATE
MATTHEW W. PROZZILLO
INVESTMENT ASSOCIATE
Benjamin N. Skinner is an Investment Associate at CBRE Capital Markets in
Tampa, FL. Within this role, Skinner exclusively represents buyers and
sellers of student housing properties throughout the Southeast and
investment properties throughout the Gulf Coast of Florida markets. Prior
to CBRE Capital Markets, Ben worked with IPA Development, American
Campus Communities, Asset Campus Housing, and Carriera Regan
Multifamily Advisors. Throughout his career in real estate, Ben has worked on multifamily,
student housing, historic, and institutional mixed-use real estate valued at over $4 billion.
Benjamin has achieved multiple awards and distinctions from real estate organizations,
including the Harold E. Eisenberg Foundation and the International Council of Shopping
Centers (ICSC). He graduated with a finance and real estate degree from the University of
Illinois Urbana-Champaign. Benjamin holds a real estate license in Florida and is an active
member of the Urban Land Institution.
Matthew Prozzillo is an Investment Associate at CBRE Capital Markets.
Prior to CBRE Capital Markets, Prozzillo excelled as an Investment
Associate/Multifamily Specialist with Carriera Regan of Marcus & Millichap
in Tampa Bay, Florida. In this role, he exclusively represented buyers and
sellers of student housing and market rate properties throughout the
Southeast and multifamily properties throughout the North/Central Florida
markets. Prozzillo has been involved in market rate and student housing transactions
valued over $4 billion.
Prozzillo graduated with a Bachelor of Science in Finance with a concentration in Real
Estate from Florida State University. He was also a member of the FSU Real Estate Society
and served as a Founding Father of Phi Gamma Delta Fraternity. Prozzillo holds a real estate
license in Florida and is currently an active member of Urban Land Institute.
03 UNIVERSITY HIGHLIGHTS
07
09
CAMPUS DEVELOPMENT
RENTAL DATA
TABLE OF CONTENTS
“With a diverse mix of campus developments such as the
Academic & Office Building II, Science Annex II, and the
expansion of Brooks Stadium, Coastal Carolina University is
positioning itself well to continue on it’s path towards an
enrollment goal of 12,000. From an investor’s standpoint,
achieving this goal will become increasingly critical to the
market’s ability to absorb the 1,750 of beds delivered between
2018 and 2020.”
- Benjamin N. Skinner
KEY TAKEAWAY

3. U N I V E R S I T Y H I G H L I G H T S

4. 0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F 2019F 2020F 2021F 2022F
Enrollment(L) Enrollment Growth(R)
4
MARKET DATA
COASTAL CAROLINA UNIVERSITY| UNIVERSITY HIGHLIGHTS
ENROLLMENT TRENDS
TOTAL ENROLLMENT AND ENROLLMENT GROWTH
10,641
TOTAL
ENROLLMENT
$11,536
IN-STATE
TUITION
9,898
UNDERGRAD
ENROLLMENT
$26,648
OUT-OF-STATE
TUITION
743
GRADUATE
ENROLLMENT
$9,190
ROOM AND
BOARD
30.77%
TEN–YEAR
ENROLLMENT GROWTH
4.47%
YoY APPLICATION
GROWTH
61.2%
2017
ACCEPTANCE RATE
3.58
AVERAGE
HIGH SCHOOL GPA
KEY TAKEAWAYS
1) With a diverse mix of campus developments such as the Academic & Office Building II, Science Annex II, and the expansion of Brooks
Stadium, Coastal Carolina University is positioning itself well to continue on it’s path towards an enrollment goal of 12,000
2) In the Summer of 2018, the Board of Trustees approved two new bachelor’s degree programs: B.A./B.S. in University Studies and B.A. in
Religious Studies
3) In December of 2018, Coastal Carolina University’s President, Dave DeCenzo, announced that he will retire in 2021. The Incoming President will
work under DeCenzo for approximately one-year prior to his retirement

5. 5COASTAL CAROLINA UNIVERSITY| UNIVERSITY HIGHLIGHTS
UNIVERSITY FACTS
#13 MOST INNOVATIVE SCHOOLS – SOUTH REGION
ACADEMIC RANKINGS
#19 TOP PUBLIC SCHOOLS – SOUTH REGION
#22 UNDERGRADUATE TEACHING – SOUTH REGION
#34 BEST COLLEGES FOR VETERANS
10,641 TOTAL ENROLLMENT
UNIVERSITY DATA
9,898 UNDERGRADUATE ENROLLMENT
30.77% TEN–YEAR ENROLLMENT GROWTH
$31.6M 2017 ENDOWMENT
#52 BEST REGIONAL UNIVERSITY – SOUTH REGION
#2 BEST VALUE SCHOOLS – SOUTH REGION
STUDENT LIFE DATA
19 NCAA DIVISION I SPORTS TEAMS
181 CONFERENCE CHAMPIONSHIPS
137 NCAA POST–SEASON APPEARANCES
899 NCAA ALL – AMERICANS
180 STUDENT CLUBS & ORGANIZATIONS

6. C A M P U S D E V E L O P M E N T

7. 7COASTAL CAROLINA UNIVERSITY| CAMPUS DEVELOPMENT
RECENT CAMPUS DEVELOPMENTS
ACADEMIC & OFFICE BUILDING II | 53,000 SQFT
COMPLETED 2018
SCIENCE ANNEX II | 71,150 SQFT
COMPLETED 2016
BROOKS STADIUM EXPANSION | 20,000 CAPACITY
BEGAN 2017
SPRINGS BROOKS STADIUM| 6,000 CAPACITY
COMPLETED 2015
STUDENT UNION EXPANSION| +30,000 SQFT
COMPLETED 2015
TWO NEW RESIDENCE HALLS | 650 BEDS
COMPLETED 2016
THE WREN APARTMENTS | 50 UNITS/200 BEDS
DELIVERS AUGUST, 2019
PIER AT CCU APARTMENTS| 182 UNITS/564 BEDS
DELIVERS AUGUST, 2020

8. R E N T A L D A T A

9. $662
$598
$537
$0 $100 $200 $300 $400 $500 $600 $700
ON-CAMPUS HOUSING
>1.0 MILES
< 1.0 MILES
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
Prelease %(L) Rent Growth(R)
9
OFF-CAMPUS HOUSING TRENDS
RENT/BED COMPARISON
PRELEASE OCCUPANCY TRENDS
$662
AVERAGE
ON-CAMPUS
RENT
$537
AVERAGE
OFF-CAMPUS
NET RENT
< 1.0 MILES
90.5%
AVERAGE
ON-CAMPUS
OCCUPANCY
83.68%
AVERAGE
OFF-CAMPUS
OCCUPANCY
$598
AVERAGE
OFF-CAMPUS
NET RENT
> 1.0 MILES
COASTAL CAROLINA UNIVERSITY| RENTAL DATA

10. Three-Bedroom Apartment Rents
Property
Year
Built Unit Type SF
Market
Rent
Concessions
Adjustment/Month
Utilities
Adjustment/Month
Cable & Internet
Adjustment/Month Net Rent
Net
Rent/SF
Current
Occupancy
Prelease
Occupancy
Aspen Heights Conway * 2018 3x3.5 1851 $754 $0 $0 $30 $724 $0.10 84% 64%
Patriots Hollow 2009 3x2 1200 $450 $0 $25 $15 $410 $0.09 97% 83%
Indigo at 100 * 2001 3x3 - Premium 1250 $500 $13 $50 $30 $408 $0.08 96% 60%
Indigo at 100 * 2001 3x3 - Standard 1250 $470 $13 $50 $30 $378 $0.08 96% 60%
Indigo at 100 2001 3x3 - Premium 1250 $460 $13 $50 $30 $368 $0.07 96% 60%
Indigo at 100 2001 3x3 - Standard 1250 $430 $13 $50 $30 $338 $0.07 96% 60%
Average of Comps 1342 $511 $8 $437 $0.08 94% 65%
*Indicates the property charges a premium for furnished units. The premium is accounted for in the rental rate
Two-Bedroom Apartment Rents
Property
Year
Built Unit Type SF
Market
Rent
Concessions
Adjustment/Month
Utilities
Adjustment/Month
Cable & Internet
Adjustment/Month Net Rent
Net
Rent/SF
Current
Occupancy
Prelease
Occupancy
Aspen Heights Conway * 2018 2x2.5 1436 $784 $0 $0 $30 $754 $0.13 84% 64%
Aspen Heights Conway * 2018 2x2.5 1458 $784 $0 $0 $30 $754 $0.13 84% 64%
Bellamy Coastal 2018 2x2 1400 $724 $25 $0 $30 $669 $0.12 53% 56%
Campus Walk 2000 2x2 1108 $700 $0 $50 $30 $620 $0.14 98% 45%
The Provincial 2012 2x2 824 $695 $0 $50 $30 $615 $0.19 75% 9%
The Cove 2012 2x2 - Deluxe 770 $658 $17 $50 $30 $561 $0.18 99% n/a
Coastal Club 2014 2x2 1075 $630 $0 $50 $30 $550 $0.13 76% 33%
The Cove 2012 2x2 770 $643 $17 $50 $30 $546 $0.18 99% n/a
Patriots Hollow 2009 2x2 1020 $500 $0 $25 $15 $460 $0.11 97% 83%
Average of Comps 1096 $680 $7 $614 $0.15 85% 51%
*Indicates the property charges a premium for furnished units. The premium is accounted for in the rental rate
Studio/One-Bedroom Apartment Rents
Property
Year
Built Unit Type SF
Market
Rent
Concessions
Adjustment/Month
Utilities
Adjustment/Month
Cable & Internet
Adjustment/Month Net Rent
Net
Rent/SF
Current
Occupancy
Prelease
Occupancy
Patriots Hollow 2009 1x1 729 $775 $0 $25 $15 $735 $0.25 97% 83%
Indigo at 100 2001 Studio 750 $725 $13 $50 $30 $633 $0.21 96% 60%
Average of Comps 740 $750 $6 $684 $0.23 96% 72%
10
OFF-CAMPUS HOUSING DATA
COASTAL CAROLINA UNIVERSITY| RENTAL DATA

11. Four/Five-Bedroom Apartment Rents
Property
Year
Built Unit Type SF
Market
Rent
Concessions
Adjustment/Month
Utilities
Adjustment/Month
Cable & Internet
Adjustment/Month Net Rent
Net
Rent/SF
Current
Occupancy
Prelease
Occupancy
Aspen Heights Conway * 2018 4x4.5 2036 $724 $0 $0 $30 $694 $0.09 84% 64%
Aspen Heights Conway * 2018 4x4.5 1912 $724 $0 $0 $30 $694 $0.09 84% 64%
Aspen Heights Conway * 2018 5x5.5 2263 $714 $0 $0 $30 $684 $0.08 84% 64%
Aspen Heights Conway * 2018 5x5.5 2303 $714 $0 $0 $30 $684 $0.07 84% 64%
The Wren ** Aug-2019 4x4.5 1750 $665 $0 $15 $15 $635 $0.09 n/a n/a
Bellamy Coastal 2018 4x4.5 1643 $645 $25 $0 $30 $590 $0.09 53% 56%
University Suites 2008 4x4.5 1690 $625 $0 $50 $30 $545 $0.08 90% 60%
The Provincial 2012 4x4.5 1311 $605 $0 $50 $30 $525 $0.10 75% 9%
The Cove 2012 4x4 - Super Deluxe 1320 $608 $17 $50 $30 $511 $0.10 99% n/a
University Suites 2008 4x4.5 - Unfurnished 1690 $575 $0 $50 $30 $495 $0.07 90% 60%
The Cove 2012 4x4 - Deluxe 1320 $590 $17 $50 $30 $493 $0.09 99% n/a
The Cove 2012 4x4 - Standard 1320 $564 $17 $50 $30 $467 $0.09 99% n/a
Coastal Club 2014 4x4 1695 $499 $0 $50 $30 $419 $0.06 76% 33%
Average of Comps 1712 $635 $6 $572 $0.08 85% 53%
*Indicates the property charges a premium for furnished units. The premium is accounted for in the rental rate
**Indicates an approximate unit square footage
11
OFF-CAMPUS HOUSING DATA
COASTAL CAROLINA UNIVERSITY| RENTAL DATA
University-Owned Housing
Property Unit Type Rent Per Semester Rent Per Academic Year Rent Per Month
Blue Ridge / Piedmont Single $3,665 $7,330 $814
Eaglin / Ingle Triple $2,425 $4,850 $539
Eaglin / Ingle Double $2,720 $5,440 $604
Eaglin / Ingle Single $2,970 $5,940 $660
The Gardens Triple $2,425 $4,850 $539
The Gardens Double $2,775 $5,550 $617
Georgetown Double $2,425 $4,850 $539
Grand Strand Double $3,260 $6,520 $724
Grand Strand / Low Country / Sandhills Single $3,665 $7,330 $814
Chanticleer / Singleton-Young / Teal / Tradition Double $3,461 $6,922 $769
The Woods Single $2,970 $5,940 $660
Averages $2,978 $5,957 $662
ON-CAMPUS HOUSING DATA

12. CBRE CAPITAL MARKETS MULTIFAMILY
CONTACT US
BENJAMIN N. SKINNER
Associate
813.868.8025
Ben.Skinner@cbre.com
MATTHEW W. PROZZILLO
Associate
813.868.8039
Matt.Prozzillo@cbre.com