Time Equities Buys SHSU Private Dorm

Time Equities Inc. has acquired The Armory, a student housing property near Sam Houston State University (SHSU) in Huntsville, TX. The property, which features 145 units and 502 beds, was sold by Stonemont Financial, a real estate investment and development firm headquartered in Atlanta. At the time of purchase, the asset was 96% occupied. Commercial Edge reported the sale price at $25.8 million.

Built in 2018, The Armory spans 2.5 acres and offers a mix of studio to five-bedroom units, catering to a diverse range of student preferences and needs. Community amenities include a 10k sf clubhouse, a resort-style pool, a dog park, a putting green, soundproof study rooms and a fitness center, as well as a seven-story parking garage with 387 spaces plus guest parking. 

Located at 2257 Sam Houston Ave, The Armory offers easy access to university classrooms and athletic facilities, as well as off-campus dining, shopping, recreation and entertainment options, all within walking distance.