Amenity-Rich Off-Campus Community is within Walking Distance of University at Buffalo
March 4, 2026 — The Michaels Organization, a national leader in residential real estate, has completed the acquisition of Villas on Rensch, an off-campus student housing community located within walking distance of the University at Buffalo, SUNY. The acquisition was done in joint venture partnership with New York-based developer group GRJ LLC and Capital Solutions.
“Villas on Rensch represents exactly the type of asset we look for at GRJ — high-performing, well-located communities in supply-constrained university markets with durable demand drivers. The University at Buffalo continues to demonstrate strong enrollment growth, and we see long-term stability in this submarket. We’re proud to partner with The Michaels Organization and Capital Solutions to further elevate an already exceptional property,” said Greg Jones- cofounder and CEO of GRJ.
Serving the SUNY student housing population since 2012, Villas on Rensch comprises 608 beds across 152 four-bedroom, four-bathroom apartments in 36 cottage-style buildings. It offers a range of community amenities, including a hot tub, fitness center, outdoor lounges with bike storage and BBQ grills, private study rooms, a computer lounge, resident clubhouse, and private shuttles to campus and local shopping. The well-maintained community enjoys a high occupancy rate, in a market that has stable enrollment growth, with the University welcoming its largest freshman class ever in 2025.
“Villas on Rensch strengthens our growing student housing platform and reinforces our commitment to high-demand university markets,” said Kevin Gates, Senior Vice President of Capital Markets and Transactions, who spearheaded the deal for Michaels.
The community will be managed by Michaels, which plans to invest in exterior property upgrades, as well as a refreshed community clubhouse.
“We’re excited to welcome this community into our upstate New York portfolio and continue providing our student living residents with high-quality housing options and best-in-class resident services,” said Gen Bauer, Michaels’ Executive Vice President of Operations.
This transaction marks the fifth acquisition Michaels has done in partnership with Capital Solutions Inc., Founded in 1991, Capital Solutions’ investment portfolio exceeds $2 billion. It is Michaels’ first joint venture with GRJ LLC, a vertically integrated real estate firm, focused on acquiring multi-family and mixed-use assets.
Residents of Villas on Rensch will be eligible to apply for scholarships offered through The Michaels Organization Educational Foundation. This unique program is designed for students who reside in on- or off-campus student living communities owned or managed by Michaels.
About Michaels: The Michaels Organization is a national leader in residential real estate, offering full-service capabilities in development, property and asset management, construction and investment. Serving more than 200,000 residents in more than 600 communities across 39 states, the District of Columbia, and the U.S. Virgin Islands, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity, and to creating Communities that Lift Lives.
About GRJ, LLC: GRJ is a vertically integrated Manhattan-based owner/developer/operator focused on acquiring multi-family and mixed use assets. The company currently owns and operates a portfolio of apartments and hotels across the country. Founded in 2010 by Graham & Gregory Jones.
About Capital Solutions: Capital Solutions, Inc. is an investment firm founded in 1991 that specializes in providing equity for real estate opportunities. Through a large network of private and institutional investors, Capital Solutions manages a diverse portfolio of real estate investments across various sectors, including student housing.
