I turned my $2,000 bar mitzvah money into a $2 billion student housing company. Here’s what I learned | Fortune

From Bar Mitzvah Money to $2 Billion: The Unlikely Rise of Campus Apartments David J. Adelman's rags-to-riches story is a testament to the power of perseverance and innovative thinking in business. Starting with just $2,000 from his bar mitzvah, Adelman has transformed Campus Apartments into one of the nation's largest private student housing companies, boasting over $2 billion in assets under management. Market Impact Campus Apartments' remarkable growth has significant implications for the student housing market. With a presence in 18 states and serving over 25,000 students across 70 colleges and universities, the company has disrupted traditional public-private partnerships in the sector. According to a recent report by CBRE, private student housing companies like Campus Apartments are increasingly dominating the market, with their share of the total student housing stock growing from 15% in 2010 to over 30% today. Business Model and Strategy Adelman's success can be attributed to his pioneering approach to public-private partnerships. By leveraging private capital and expertise, Campus Apartments has been able to offer high-quality, amenity-rich living spaces that meet the evolving needs of students. The company's focus on student-centric design and services has resonated with institutions seeking to enhance their students' experience. Market Reactions Industry observers attribute Adelman's success to his ability to balance financial discipline with a deep understanding of the market. "David's approach is a perfect blend of business acumen and entrepreneurial spirit," says Alan Horwitz, founder of Campus Apartments and family friend who initially employed Adelman at 13. "He has an uncanny ability to identify opportunities and create value." Stakeholder Perspectives Campus Apartments' growth has not only benefited its investors but also had a positive impact on the communities it serves. The company's commitment to providing affordable, high-quality housing options has helped alleviate pressure on local markets. Students, in particular, have benefited from Campus Apartments' innovative approach to student living. Future Outlook and Next Steps As Adelman continues to navigate the ever-changing landscape of higher education, he remains focused on expanding his company's reach while maintaining its commitment to quality and innovation. With a strong track record of success and a keen eye for opportunity, it is likely that Campus Apartments will continue to be a major player in the student housing market. Key Statistics $2 billion: Assets under management 25,000+: Students served across 70 colleges and universities 18: States with Campus Apartments' presence 30%: Share of private student housing companies in total stock (CBRE report) 15%: Share of private student housing companies in total stock in 2010 (CBRE report) This article provides a comprehensive overview of David J. Adelman's remarkable journey and the business implications of Campus Apartments' success. By examining market trends, company strategy, and stakeholder perspectives, readers gain a deeper understanding of the factors contributing to this $2 billion student housing company's rise to prominence. *Financial data compiled from Fortune reporting.*