FORT WORTH-Less than a year after opening, the 56-unit, 118-bed Vue has a new owner. Inland American Communities, a wholly owned subsidiary of Inland American Real Estate Trust Inc. acquired the student housing property from its developer, Fountain Residential Partners.
Located at 3209 S. University Dr., the Vue opened in August 2012 at 100% occupancy. According to a press release from Inland American Communities, the student housing property, which serves Texas Christian University, is being rebranded University House.
"The VUE is a great addition to our portfolio and meets our core investment objectives with best-in-market amenities, serves a well-known university with growing enrollment, and is in the right location," says Travis Roberts, president of Inland American Communities in a press release. “We believe students will enjoy the VUE's unique designs and luxury amenities packaged in a boutique college student housing environment.”
CBRE's National Student Housing Group brokered the sales of the property, which includes 6,000 square feet of retail space currently under construction. The retail space is scheduled for a spring 2013 opening.
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