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Rio West

Rio West’s Cost-Effective Rates Will Drive Student Housing Demand

Rio West, an off-campus student housing property located at 2704 Rio Grande St. near the University of Texas at Austin, recently sold for an undisclosed price. The 384-bed community features a private parking garage, on-site management and maintenance, a free coffee bar, private study lounges, a pool, an outdoor patio with grilling stations and a 24/7 fitness center.

Newmark vice chairman and head of student housing division Ryan Lang and associate director Jack Brett represented the seller, Virginia-based ILM Capital LLC, in the transaction.

“There were more than 40,000 students in need of off-campus housing options and that number has continued to grow at UT,” said Lang. “Differing price points and cost-effective rates, similar to those Rio West offers, will continue to be a driver for the demand dynamics for student housing product in the immediate area.”


Inside The Story

Rio West

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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  • ◦Sale/Acquisition