J.E. Dunn Capital Partners sold the 18-story, 674-bed Skyloft, an off-campus student housing property serving the University of Texas at Austin. The property sold to Nelson Partners for $100 million, a record-setting price for Austin, and one of the student housing industry’s largest single-asset transaction pricein recent years. Ryan Lang, Brandon Buell and Jack Brett with NKF represented the seller in the transaction.
The property at 507 W. 23rd St. in the West Campus area delivered in 2018, and was almost 100% occupied well in advance of the 2018-2019 school year. The property offers a rooftop pool, more than 6,700 square feet of communal study space, top-floor fitness center, business center, bike parking and Skybites, a market offering food and drink through an on-demand, app-based ordering system. The mix includes studios, as well one, two, three, four and five-bedroom units.
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.