Revitalizing Undermanaged Assets for Strong Returns
Founded in 2016, XFD Real Estate is a private owner-operator of student housing with over $200 million in AUM. Today, we operate 4 assets in 4 states – Georgia, Oklahoma, North Carolina, and Utah. Since its launch, XFD Real Estate has developed, acquired, and managed approximately $500 million in student housing assets across the USA. The firm specializes in reviving underperforming assets through operational turnarounds and capital improvements, aiming to achieve strong risk-adjusted returns.
Our team’s experience as operators spans the entire nation and includes the successful development, acquisition, onboarding, repositioning, and stabilization of over $2.5 billion of student housing assets.
Portfolio Highlights
All time Asset Value
$229M
Current AUM
$304,000,000
2020
$351,000,000
2021
$357,000,000
2022
$326,000,000
2023
$229,000,000
2024
$304,000,000
2020
$351,000,000
2021
$357,000,000
2022
$326,000,000
2023
$229,000,000
2024

272
2016
700
2017
1,432
2018
1,980
2019
3,819
2020
3,975
2021
4,767
2022
3,899
2023
3,135
2024
272
2016
700
2017
1,432
2018
1,980
2019
3,819
2020
3,975
2021
4,767
2022
3,899
2023
3,135
2024

3
2016
5
2017
5
2018
9
2019
12
2020
12
2021
13
2022
9
2023
4
2024
3
2016
5
2017
5
2018
9
2019
12
2020
12
2021
13
2022
9
2023
4
2024

OUR TEAM
Samuel Mtunga
Founder & CEO
Samuel Mtunga, a first-generation immigrant from Malawi, Africa, moved to the United States in 2004. He began his career in real estate and student housing in 2007, starting in leasing and marketing and eventually advancing to Vice President of Marketing & Leasing at The Scion Group. There, he played a critical role in vetting deals and developing strategies for business plan execution for approximately $2 billion worth of Class-A and Class-B student housing acquisitions.
In 2016, Samuel founded XFD Real Estate with a vision to create a student housing platform focused on service and value creation for customers and investors. As CEO, his focus includes business strategy, acquisitions, equity relationships, and culture. Under his leadership, XFD Real Estate has developed, acquired, and managed approximately $500 million in student housing assets across the USA. The firm specializes in reviving underperforming assets through operational turnarounds and capital improvements, aiming to achieve strong risk-adjusted returns.

Samuel Mtunga
Founder & CEO
Alindine Mtunga
Director of Operations
Alindine Mtunga leads day-to-day property operations for the XFD portfolio, overseeing the execution of business strategy, training, recruiting, policy development, and technology. With over 15 years of property and portfolio management experience, she previously served as Operations Manager at The Scion Group, managing the onboarding and operations of a portfolio of twenty assets (~$800 million in AUM).
Her function overlaps between business strategy execution and investor relations, playing a key role in the company’s overall asset management function.
Alindine holds a Bachelor of Arts in Economics from the University of Illinois and an MBA from DeVry University, Chicago.

Alindine Mtunga
Director of Operations
Jennifer Kustenbauder
Director of Leasing
Jennifer is a seasoned professional in the student housing industry with over a decade of experience driving marketing and leasing campaigns across the U.S. For the past 7 years, she has led XFD’s leasing efforts, delivering industry-leading results in rent growth, leasing velocity, and occupancy across Tier-1 and Tier-2 markets.
Jennifer has spent her career in student housing, beginning with The Scion Group in 2012 and later with Landmark Properties.
At XFD, Jennifer focuses on strategy and revenue management, and overseeing the execution of marketing and leasing initiatives in line with each asset’s overall business plan. She holds a Bachelor’s degree in Business Management with a concentration in Marketing from Pennsylvania State University.

Jennifer Kustenbauder
Director of Leasing
Xavier Ybarra
Operations Manager
Xavier has spent the last 25 years in hospitality and property management, having worked for Hilton, JPI, EdR Trust, and American Campus Communities. He kicked off his student housing career in the year 2000 while attending Texas Tech University, and has gone on to manage over $500 million in Student Housing assets across the country.
Xavier left EDR and originally joined XFD as a General Manger in 2017. Today, in his capacity as the company’s Operations Manager he serves as the primary resource for the portfolio’s General Managers across the country. His role involves recruiting, training, and day-to-day support of on-site teams.
Xavier holds a Bachelor of Arts degree in Financial Planning from Texas Tech Universith.

Xavier Ybarra
Operations Manager
Justin Perryman
Regional Facilities Manager
Justin Perryman joined XFD in 2018 as a facilities manager in Statesboro, GA. He has since taken the position of Regional Facilities Manager where he oversees all aspects of Facilities Management for the portfolio, including overseeing preventative maintenance programs, managing post-acquisition deferred maintenance capital projects, and the recruiting and training of on-site Facilities Managers.
Justin has 14 years of experience in student housing Facilities Management. Before joining XFD Justin has served as Facilities Manager for ACC, Scion, and Aspen Heights.
Justin holds a BS in History from Western Carolina University.

Justin Perryman
Regional Facilities Manager
Anthony Frazier
Senior Marketing Coordinator
As XFD’s Senior Marketing Coordinator, Anthony brings nearly two decades of student housing experience to the table. Throughout his career, he has contributed his expertise in numerous highly competitive markets across the nation.
Joining XFD in 2016, Anthony is an integral piece of XFD’s leasing and marketing efforts. He is known for creating mutually beneficial relationships with colleges, universities, businesses, as well as student-based and local organizations in any market we enter. He is consistent in driving both renewal retention and new lease velocity by implementing unique marketing and lead-generation strategies throughout the company’s portfolio.
In his current role, Anthony carefully plans strategies based on the needs within particular markets, while also training the individual site-teams on advanced sales tactics and critical efforts to retain our current residents. His ability to overcome leasing obstacles and think innovatively to rise above competitors has played a tremendous role in the lease-up success that XFD has achieved.

Anthony Frazier
Senior Marketing Coordinator
Sammantha Ballou
Associate, Business Development & Marketing
Sammantha has been in the student housing industry since 2016, beginning her career in leasing at Campus Evolution Villages and continuing on when they merged with Pinnacle Campus Living. Her expertise in leasing and marketing led to a corporate role as Regional Marketing Director, where she supported nationwide initiatives and assisted with eight different properties in her region.
After transitioning back to onsite operations, Sammantha successfully led teams with Pierce Education Properties and Peak Campus, before joining XFD Real Estate in 2020. In her current role, she supports business development, operations, and marketing strategies across the portfolio.

Sammantha Ballou
Associate, Business Development & Marketing
THE XFD
DIFFERENCE
A high-touch approach from company executives fosters thoughtful development and execution of business strategy. This hands-on involvement ensures that leaders are closely engaged with the company’s direction, aligning key decisions with long-term goals. By maintaining direct communication with teams and stakeholders, executives can adapt strategies to meet market demands, drive innovation, and ensure consistent progress.
Market exclusivity enables businesses to concentrate their efforts without the distractions of competing interests. By limiting direct competition within a specific market or product segment, companies can fully invest in innovation, customer satisfaction, and growth. This approach not only fosters stronger relationships with clients but also minimizes the risk of conflicts of interest, leading to more focused and sustainable business practices.
A highly experienced team with over $2.5 billion in acquisitions, onboarding, and operational turnaround experience brings invaluable expertise to the table. This depth of knowledge allows for smooth transitions, efficient integrations, and the revitalization of underperforming assets. Their proven track record ensures that complex business challenges are met with effective strategies, driving sustained growth and profitability across various industries.
A tailored approach to marketing and operations allows businesses to cater precisely to the unique demands of their market and clientele. By customizing strategies based on consumer preferences, industry trends, and regional factors, companies can create more effective campaigns and operational processes. This targeted focus leads to stronger customer engagement, increased brand loyalty, and enhanced operational efficiency, all of which drive long-term success.
- Careers
Pioneering a New Era of Student Housing
Are you ready for a meaningful career that rewards you for your contributions? Join us, and together, we will challenge the status quo, exceed expectations, and create a future for student housing that is filled with endless possibilities.