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Cali Buyer Makes First SH Buy – in Texas
Arrimus Capital acquired the 1,044-bed Forum at Denton Station in Denton, TX from Parkland Development Corp. The purpose-built student-housing property at 201 Inman St. is the California investor’s first institutional-quality student housing buy.
CBRE’s Jaclyn Fitts and Casey Schaefer brokered the transaction. The sales price was undisclosed.
The 348-unit Forum at Denton Station serves the University of North Texas and Texas Woman’s University campuses. The property consists of 14 three-story buildings, with amenities such as a resort-style swimming pool, sand volleyball courts, indoor courts, outdoor grilling, and a 24-hour fitness center.
Arrimus has set a goal to acquire $1 billion in student housing assets over the next three years.
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