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Texas  + Student Housing  | 

Centurion Property Group Acquires The Ranch Student Housing

The Ranch Apartments is a 243-unit 737-bed value-add student housing asset located near Texas Tech University in Lubbock. The asset recently traded to a privately held real estate investment firm, Centurion Property Group, for an undisclosed price.

Newmark’s Ryan Lang and Jack Brett represented the seller Mountain Pacific, a Los Angeles-based real estate development and investment company. Newmark’s Ben Harkrider provided support on the transaction.

“Given the strong growth projected at Texas Tech, improving submarket fundamentals, lack of new supply and runway for rental rates, The Ranch is well-positioned for future successes,” said Lang.

The Ranch Apartments recently enhanced its amenity package to remain competitive in the market with a complete renovation of the community’s pool, fitness center, lounge area and clubhouse.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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