University of North Texas Asset Changes Hands

DALLAS—Austin-based FourPoint Student Housing Investments is recently revealed the sale of 33 Degrees North in Denton, TX. The class-A luxury mid-rise student housing property was developed by Fountain Residential Partners to serve the students at the University of North Texas.

The asset features high-end condo-quality finish outs, a state-of-the-art clubhouse and fitness center and a pedestrian location adjacent to campus. Co-Founders Chris Epp and Chris Bancroft lead the sales efforts along with the assistance of director Meredith Wolff.  The asset was sold to TIAA-CREF.

FourPoint Co-Founder and Principal Chris Bancroft, comments, “Fountain Residential built an outstanding asset in the Denton market.  Student investors today are more focused than ever on fundamentals and 33 Degrees North checks all the boxes in terms of location, asset quality and long-term upside.”  

FourPoint co-founder and principal Chris Epp noted “33 Degrees North was very well-received by the investment community. We fielded multiple offers after touring a record number of investors through the asset. The opportunity was aggressively bid by a number of high profile investors in a very competitive process.”