AUSTIN, TX-Locally-based World Class Capital Group reports it has acquired a student housing community in San Marcos, TX and a shopping center in San Antonio.
The private investment firm purchased State Flats, a 162-unit student housing community near Texas State University's main campus. State Flats is located on Aquarena Springs Drive with additional frontage on IH-35.
The firm also acquired Culebra Crossing, a 141,000 square foot retail center in Northwest San Antonio. Culebra Crossing is currently 93% occupied and is anchored by WellMed and Family Dollar. The purchase also included vacant pad sites for future development, the company states.
No financial information on either purchase was released by the company.
“State Flats fits our value-add strategy in the student housing sector,” states Sheena Paul, a vice president at World Class Capital Group. “We seek to acquire student housing properties near growing universities. State Flats and the San Marcos market stand to benefit from the growth of Texas State University.”
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
