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Cali Buyer Nabs 488-Bed Student Housing
A San Francisco buyer struck a deal with Asset Plus Cos. to acquire the 152-unit, 488-bed Reserve at West End Avenue. The student housing complex, at 109 West Ave. in San Marcos, TX, serves those attending Texas State University.
Ryan Lang and Brandon Buell, with ARA Newmark, represented the Houston-based seller in the disposition. The price was not disclosed, with the Hays Central Appraisal District assessing the asset at $16.5 million.
The late 1990s student housing property features two-, three- and four-bedroom units. On-site amenities are a fitness center, cyber lounge with study rooms, a new pet park and dog run, as well as new volleyball and basketball courts.
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