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Baylor-Area Student Housing Project Acquired by Texas Based Investment Firm
A 374-bed mid-rise student housing apartment, made up of 106 units, sits on 2.72 acres. Built in 2008, the Heritage Quarters is a prime candidate for renovations.
The Multifamily Group’s Danny Wieland represented the seller, “As we looked at the value-add component, we noticed that nearby comparable properties commanded a higher premium due to either renovations or new construction. The asset was one of the few student housing properties remaining in Waco that could benefit from renovations and improvements.”
The Waco property, which is less than two miles from the Baylor campus, has a pool, fitness center, billiard room and garage parking.
- ◦Sale/Acquisition
