JV Strikes Again; Snares Forum at Sam Houston

For the second time in two months, Preiss Co. and TH Real Estate shopped and bought, becoming owners of the 450-bed Forum at Sam Houston. Vesper Holdings of New York City sold the asset in Huntsville, TX for an undisclosed price; the asset was valued at $23.7 million. Forum at Sam Houston opened in 2011, and houses students at Sam Houston State University.

The new owners will commence renovations on the property in fall 2018, which will include clubhouse upgrades, interior/exterior panting and new furniture, flooring and kitchen backsplashes. Preiss will manage the property and oversee the renovation. The property is situated on 12 acres at 3019 Sam Houston Ave., less than a mile from campus.

The JV acquired the 472-bed Park on Morton in May 2018, which serves students attending Indiana University in Bloomington, IN.

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