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1,899-Bed Taste of Texas Portfolio Hits the Market
Dallas-based Domus has put its 777-unit, 1,899-bed Taste of Texas Portfolio up for sale. The student housing properties, which serve Tarleton State University (Stephenville), University of Texas Rio Grande Valley (Edinburg) and Texas A&M Kingsville (Kingsville), are being marketed by ARA Newmark’s National Student Housing Group.
The portfolio consists of the Legends at Kingsville I & II, the Legends at Edinburg and Mustang Ranch. The properties came online from 2014-2017, and according to the broker website, no purpose-built developments are currently in the pipeline.
According to ARA Newmark’s Ryan Lang, portfolio-wide occupancy is 85%, with likely buyers consisting of private capital and national student operators. “All offer combinations will be considered, but we expect this portfolio will trade as a whole,” he added.
Bids on Taste of Texas will be due in the early part of July, with closing anticipated for August or September.
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