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UT Student Housing Asset Changes Hands
Hawkwood Ventures has acquired 900 West, a 140-bed, four-story student housing asset that serves students attending the University of Texas in Austin. Lender iBorrow provided $11.2 million in financing which will fund a batch of capital improvements at the 52-unit project, which was built in 2003.
The property is already 86% released for students coming back in the fall in 2022. iBorrow’s Brian Good has seen student housing trend up, “Since the pandemic, we’ve seen an increase in student housing occupancy as an even deeper value has been placed in on-campus life as an essential part of the college experience.” Rents range from $1,300 to $3,200 a unit.
The student housing asset is located at 900 W. 23rd Street in Austin, Texas.
- ◦Sale/Acquisition
- ◦Financing
