AUSTIN, TX—A new 166-unit 567-bed luxury student housing asset, Moontower, is located in the West Campus neighborhood across the street from the University of Texas at Austin. The asset is 100% pre-leased for the 2020-21 academic year. UT Austin is the seventh largest university in the country with more than 51,000 students enrolled as of Fall 2019.
The property recently sold at an undisclosed price, but at one that is among the top five largest single-asset sales in terms of transaction value in the student housing space this year. Moontower traded to a partnership led by Los Angeles-based Ocean West Capital Partners and Athens, GA-based Landmark Properties, a student housing asset developer.
Ryan Lang, Newmark vice chairman and head of its student housing group, along with Jack Brett, associate director, represented the seller, Austin-based Lincoln Ventures. Ben Harkrider, Newmark transaction manager, provided crucial support to assist on the transaction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
