Arrimus Capital, a multifamily investment and development company in Newport Beach, CA, acquired two student housing properties. The 472-bed Prado serves students attending the University of Texas in San Antonio. Meanwhile, the buyer also added 212 East to its portfolio, a 428-bed asset that is in the University of Illinois’ Campustown district in Champaign-Urbana, IL.
The buyer acquired Prado from Fountain Residential Properties, which was represented by CBRE. The student-housing complex, located at 7114 UTSA Blvd., is adjacent to the university and features an on-site coffee house, sandwich shop, Chinese restaurant and barber shop. Amenities include a clubhouse, game room, kitchen and study areas, 24-hour fitness center and a resort-style pool.
Arrimus Capital bought 212 East from XFD Real Estate Partners. Amenities include a fitness center, group and private study rooms, a community lounge with billiards and televisions, and an outdoor courtyard with a fire pit and grilling areas.
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.
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