Author: Madison Lodde

Subtext Celebrates Grand Opening of VERVE Ann Arbor, an Elevated Student Living Community at University of Michigan

Written by Madison Lodde on September 15, 2025. Posted in Press Releases. No Comments on Subtext Celebrates Grand Opening of VERVE Ann Arbor, an Elevated Student Living Community at University of Michigan

The 741-bed development features a ground-level, full-service Misfit Society Coffee Club, blending hospitality and residential living.

Photography by Shelsi Lindquist.

ANN ARBOR, MI – SEPTEMBER 15, 2025 – Subtext, a national real estate company focused on elevating the resident experience, has officially opened VERVE Ann Arbor, a new 12-story, 741-bed student housing development near the University of Michigan. Located at 721 South Forest Street, the 328,264-square-foot project includes 217 units ranging from studios to six-bedroom layouts.

Marking a first-of-its-kind integration for Subtext, VERVE Ann Arbor features a ground-level, full-service lobby coffee shop operated by local favorite, Misfit Society Coffee Club. The amenity enhances daily life for residents by providing a convenient, vibrant space to grab coffee, meet neighbors and engage with the local community. Now open to the public, Misfit Society Coffee Club at VERVE Ann Arbor is the brand’s second location in the city.

“Bringing a full-service coffee shop into the lobby at VERVE Ann Arbor was a bold step in rethinking how we design an active lobby lounge,” said Tim VanMatre, Founding Partner, Subtext. “From concept to opening, we programmed an environment that seamlessly blends daily convenience, community connection and social energy. Residents and the broader community can now experience a space that truly elevates everyday living.”

“This collaboration is a first proof of concept that we couldn’t be more excited about,” added Brad Goulding, Head of Brand, Misfit Society Coffee Club “The lobby at VERVE is not only a beautiful space—it feels like a natural extension of the welcoming, creative refuge our café is known for, and the perfect complement to our brand.”

Photography by Shelsi Lindquist.

VERVE Ann Arbor’s amenity offerings reflect the growing demand for housing that blends identity, design and experience. With holistic wellness at the forefront, the development responds to the values of Gen Z and Gen Alpha, who increasingly prioritize both mental and physical health. Key features include:

· Rooftop inclusive of a pool deck, hot tub, outdoor kitchen with grilling stations, poolside jumbotron, yard games, lounge areas and private cabanas with TVs

· Penthouse clubroom with fireplace and club kitchen

· A two-story fitness center with cardio and strength equipment

· Yoga studio, sauna and wellness rooms

· Private conference rooms and ample open study spaces

· Dog park

· Electronic package locker with 24/7 package pickup

· On-site bike storage with repair services

· EV stations

“We’ve spent years building in this market and developing a deep understanding of what students in Ann Arbor truly want,” said Brandt Stiles, Founding Partner, Subtext. “VERVE represents the culmination of that experience—a next-level development that redefines what student housing can be. From strategy and design to the resident experience, this project reflects our commitment to raising the bar and delivering something truly distinctive.”

VERVE Ann Arbor was developed in partnership with FrontRange Capital and Kayne Anderson Real Estate. Webster Bank served as the lender. Architecture was led by WDG Architecture and interiors were led by ESG Architecture & Design. General contracting was led by Brinkmann Constructors, representing their eleventh project with Subtext and underscoring a longstanding partnership across the country.

VERVE Ann Arbor is Subtext’s third development in Ann Arbor representing the company’s ongoing commitment to the market. Previous developments include Six11 and The Yard.

For more information or to explore VERVE Ann Arbor, visit https://verveannarbor.com.

About Subtext

Subtext is a vertically integrated, national real estate company focused on elevating the resident experience. From student living to attainable housing to conventional multifamily, Subtext creates thoughtfully designed communities that foster connection, productivity, and well-being. Its resident-first approach combines top-tier expertise, in-depth market research, and resident feedback to deliver lasting value. Subtext cultivates spaces where renters can live their best lives. For more information about Subtext, or to inquire about opportunities, visit subtextliving.com.

About FrontRange Capital

FrontRange Capital is a real estate private equity firm specializing in strategic partnerships with leading middle-market real estate companies. FrontRange provides both the capital and operational expertise for management teams to further institutionalize their businesses and execute their growth plans. The firm strives to serve its investors by being a partner of choice for real estate owners and operators, with investment opportunities and financial terms that reflect the value brought to each relationship. For more information, please visit frontrangecap.com.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $18 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $38 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate. (As of June 2025)

Jeremy Lyman Joins Subtext as Partner & Executive Vice President of Capital Markets, Private Wealth

Written by Madison Lodde on September 8, 2025. Posted in Press Releases. No Comments on Jeremy Lyman Joins Subtext as Partner & Executive Vice President of Capital Markets, Private Wealth

ST. LOUIS, MO – SEPTEMBER 8, 2025 – Subtext, a national real estate company focused on elevating the resident experience, today announces Jeremy Lyman as Partner and Executive Vice President of Capital Markets, Private Wealth. In his new role, Jeremy will lead the firm’s private wealth equity strategy for its purpose-built student and multifamily housing portfolio. He will work closely with RIAs, family offices and high-net-worth investors, partnering with the development, construction, and acquisitions teams to drive disciplined execution and strategic growth.

His expertise in investor needs and proven track record of structuring offerings that foster long-term alignment and performance will be pivotal to the growth of Subtext’s investment platform. By highlighting the company’s past successes, long-term vision, and consistent execution, Jeremy will focus on building collaborative relationships with current and future partners.

“I was drawn to Subtext for its focused industry expertise, sustained momentum, and clear strategic vision,” said Lyman. “With a solid foundation already in place, I look forward to applying my experience to advance Subtext’s capital markets platform, leveraging our core strengths to drive meaningful growth and capture the opportunities ahead.”

Jeremy brings over a decade of real estate investment and equity fundraising experience. Prior to joining Subtext, he served as Senior Vice President of Capital Markets at Cottonwood, where he played a key role in scaling the capital markets team and in developing, launching and closing 13 investment funds totaling more than $900 million in equity since 2014.

“Broadening our private wealth platform is a natural next step in Subtext’s growth trajectory,” said Brandt Stiles, Founding Partner & Co-CEO. “Jeremy’s experience building high-performing capital teams positions us to deepen our investor relationships while staying true to our core values of transparency, alignment, and long-term value creation.” Learn more at subtextliving.com or explore investing at subtextliving.com/investment.

About Subtext

Subtext is a vertically integrated, national real estate company focused on elevating the resident experience. From student living to market-rate multifamily to attainable housing, Subtext creates thoughtfully designed communities that foster connection, productivity, and wellbeing. Its resident-first approach combines top-tier expertise, in-depth market research, and experiential design to deliver lasting value. Subtext cultivates spaces where residents can live their best lives. For more information about Subtext, or to inquire about opportunities, visit subtextliving.com.

Subtext Opens EVER West Lafayette, A Future-Forward Community at Purdue

Written by Madison Lodde on August 18, 2025. Posted in Press Releases. No Comments on Subtext Opens EVER West Lafayette, A Future-Forward Community at Purdue

The 449-bed development is Subtext’s first EVER-branded property, which delivers a new standard for student housing with holistic amenities and intentional design.

Credit: VONDELINDE

WEST LAFAYETTE, IN – AUGUST 18, 2025 – Subtext, a national real estate company focused on elevating the resident experience, has officially opened EVER West Lafayette, a new 6-story, 449-bed student housing community just steps from Purdue University. The project at 147 West Wood Street is Subtext’s second development in West Lafayette and the first to launch under its new EVER brand, which is designed to support student wellness, academic focus, and personal growth.

“EVER West Lafayette is more than just the next phase of our presence at Purdue University—it’s the first realization of our EVER brand,” said Brandt Stiles, Founding Partner of Subtext. “We designed this project for students who are actively shaping their future, with every detail intentionally crafted to support that journey. Bringing this vision to life in such a dynamic community, especially as Purdue continues its remarkable growth, is truly rewarding.”

The 245,649-square-foot development includes 143 units ranging from studio to four-bedroom layouts, including three- and four-bedroom townhomes that create a pedestrian-friendly, residential edge along Salisbury Street.

EVER’s amenity offerings reflect a growing demand for balance and wellbeing among today’s students. Key features include:

· Resort-style courtyard with pool, hot tub, and jumbotron

· Fitness center with cardio and strength training

· Yoga/barre studio, private wellness rooms, and sauna

· 24/7 lobby coffee bar, open study lounges, and private and collaborative workspaces

· Outdoor kitchen, grilling stations, fire pits, and cabanas with TVs

· Pet spa and dog park

· EV charging

· Bike storage

“This was a first for us—two ground-up developments, across the street from each other, delivered just a year apart,” said Tim VanMatre, Founding Partner at Subtext. “That kind of pace required serious coordination and a high level of trust. Our team and partners really showed up to keep momentum through every phase, from entitlement and design to construction and lease-up—and we even achieved TCO ahead of schedule allowing for a seamless transition to operations and move-in.”

Opening only a year after VERVE West Lafayette across the street, EVER West Lafayette represents a continuation of Subtext’s investment in the Purdue market and a shift toward future-forward student housing that blends intentional design, holistic wellbeing, and meaningful resident experiences.

EVER West Lafayette was developed in partnership with Kayne Anderson Real Estate. First Mid Bank & Trust served as the lender. Architecture and interiors were led by ESG Architecture & Design, with general contracting by Brinkmann Constructors. The project underscores Subtext’s commitment to walkable lifestyle communities and its evolving approach to purpose-driven development in top-tier university markets.

For more information or to explore EVER West Lafayette, visit everwestlafayette.com.

About Subtext

About Kayne Anderson Real Estate

Subtext Wins 2x 2025 Student Housing Business Innovator Awards

Written by Madison Lodde on June 26, 2025. Posted in Articles. No Comments on Subtext Wins 2x 2025 Student Housing Business Innovator Awards

Subtext is honored to be recognized with two national awards at the 15th Annual Student Housing Business Innovator Awards, held during the InterFace Student Housing conference in Austin, Texas. With over 145 entries judged by industry leaders, VERVE West Lafayette and VERVE Madison were both celebrated for their standout contributions to student housing.

Photos of VERVE Madison and VERVE West Lafayette

VERVE West Lafayette was awarded Best Implementation of Mixed Use in New Development for its integrated approach to community-building. The 751-bed development, located near Purdue University, includes 5,100 square feet of curated retail. The space was intentionally designed to serve both residents and the surrounding neighborhood. Featuring a modern Korean bodega, an upscale Japanese restaurant, and a casual Korean eatery, VERVE’s retail strategy goes beyond entitlement requirements to create a vibrant, community-connected experience.

Early collaboration with local entrepreneurs allowed Subtext to tailor the space to tenant needs, delivering a thoughtful mix of amenities that bring culture, convenience, and character to the street level.

VERVE Madison received the award for Best Interior Design Over 400 Beds in recognition of its bold and highly intentional design. Completed in August 2024, the 12-story, 536-bed community reflects the spirit of Madison through immersive graphics, whimsical artwork, and high-end finishes. Designed in partnership with ESG Architecture & Design, the interiors celebrate University of Wisconsin traditions while offering amenity-rich spaces that support academic success, wellness, and social connection.

From rooftop views of Lake Mendota to vibrant study lounges and wellness zones, VERVE Madison merges design and purpose to create an environment where students feel inspired, supported, and at home. The community reached 100% pre-leased prior to opening, a testament to the strength of its design and brand.

These recognitions reflect Subtext’s commitment to delivering thoughtful, resident-first developments that elevate the student living experience and contribute meaningfully to their surrounding communities.

See the full list of award winners linked below.
15th Annual Student Housing Business Innovator Awards