Cali Investor Sells North Texas 815-Bed Portfolio

Shore 2 Shore Properties unloaded a North Texas 815-bed student housing portfolio to multiple buyers. The Sausalito, CA-based investor sold the 218-bed Midtown Arlington (which serves University of Texas-Arlington); the 432-bed Midtown Denton (serving the University of North Texas and Texas Woman’s University); and Edge 55 in Fort Worth (which serves Texas Christian University). The sales price was undisclosed.

Chris Epp, Chris Bancroft and Meredith Wolff, with FourPoint Student Housing Investments in Austin, represented the seller in disposing of the Class B portfolio. Midtown Arlington, at 1121 UTA Blvd. and Edge 55 at 3517 S. University Dr. were acquired by Los Angeles-based RedBridge Capital. The new owner partnered with Juniper Ridge Partners in the transaction, and is planning to execute a value-add renovation program at both properties. Meanwhile, Midtown Denton, at 905 Cleveland St., was purchased by a JV backed by foreign capital.

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