Categories: NewsReal Estate

Reservation Please: 152-Unit Student Housing Acquired In San Marcos

Alex Brown Realty Inc. and Asset Campus Housing announced the acquisition of a 152-unit student housing project near the main campus of Texas State University.
Currently known as University Springs, the 488-bed student housing property will be rebranded as The Reserve at West Ave. and undergo extensive capital improvements focused on strategic interior and exterior upgrades in order to refresh the property and correct deferred maintenance.
At closing, the property was 98 percent pre-leased for the upcoming 2015-2016 academic school year.
Built in 1998, the property’s 152 units range from two-, three- and four-bedroom units.
“Once the capital improvements have been completed, we plan to restructure the lease rates and expense payments beginning in the 2016-2017 school year to bring the property in-line with the market,” said Stephen Mitchell, EVP with Asset Campus Housing.

This story originally published on Texas A&M RECON (Real Estate Center Online News) 

Share
Published by
Staff

Recent Posts

San Marcos City Council reviews Sidewalk Maintenance and Gap Infill Program

The San Marcos City Council received a presentation on the Sidewalk Maintenance and Gap Infill…

2 years ago

San Marcos River Rollers skate on and rebuild

The San Marcos River Rollers have skated through obstacles after taking a two-year break during…

2 years ago

After 8 Years, San Marcos Corridor News Bids Our Readers Farewell

San Marcos Corridor News has been reporting on the incredible communities in the Hays County…

2 years ago

High bacteria levels at Jacobs Well halts swimming season

Visitors won't be able to swim in the crystal clear waters of the Jacobs Well Natural…

2 years ago

Pets of the Week: Meet Sally & Nutella!

Looking to adopt or foster animals from the local shelter? Here are the San Marcos…

2 years ago

Texas still leads in workplace deaths among Hispanics

The Lone Star State leads the nation in labor-related accidents and especially workplace deaths and…

2 years ago

This website uses cookies.