Texas + Austin + Student Housing | April 6, 2022

Palladius Capital Management Acquires Austin-Area Student Housing

Palladius Capital Management announced the firm has acquired The Heights, a 672-bed student housing property located in the Austin suburb of San Marcos, TX. Details of the transaction amount was not disclosed. The acquisition was made on behalf of Palladius Real Estate Fund I (“PREF I”).

The Heights, located thirty minutes away from downtown Austin and approximate to the Texas State University campus, enjoys strong leasing volume from the 38,000-student population. As part of its value creation strategy, Palladius plans to fully renovate the property’s 240 units. It will also re-amenitize common spaces, including the clubhouse and pool, FF&E and gym equipment and enhance the building’s exteriors.

According to Palladius CEO Nitin Chexal, the company plans to implement capital improvement plans to maximize the value of this well-located asset. The Heights represents the most recent acquisition made by the Palladius team along the I-35 corridor.

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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