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Value-Add Student Housing Trades Near Texas A&M

NKF arranged the sale of The Element at University Park, a 312-bed student housing asset in Bryan, near Texas A&M University. Massachusetts-based Aspen Square Management traded it to Miami-based One Real Estate Investment (OREI) for an undisclosed sum.

Aspen Square was represented by NKF’s Ryan Lang, Brandon Buell and Jack Brett. Brad Shaffer and Brandon Miller from NKF’s Multifamily Capital Markets group collaborated with the Student Housing group to bring seller and buyer together.

“Major Tier-I institutions continue to be highly sought after, particularly amidst the short-term uncertainty, as capital continues to pursue the sector for the certainty it will provide in August,” said Lang. The property is 85% pre-leased for the fall 2020 semester, and OREI hired Houston-based Allied Orion Group to manage it.

Shaffer added, “The property also represented a value-add opportunity, as the interiors had not been upgraded since original construction.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition