WACO, TX—Baylor University continues to grow with more than 16,000 students and more than 150 undergraduate degree programs, 75 master's degree programs and 30 doctoral programs. An asset that accommodates the growing student population nicely is The Hype, the closest student housing facility to Baylor's new $235 million football stadium.
The Hype has sold to a new owner/investor, and executive managing director and head of ARA Newmark's Student Housing group, Ryan Lang, represented the undisclosed seller for the housing property.
According to Lang, “Extensive renovations at The Hype in 2014 timed with the debut of McLane Stadium drew high interest. Baylor's brand is most certainly on the rise and will continue to fuel enrollment growth moving forward.”
The 430-bed Hype now offers all new interiors along with community amenities which include a swimming pool and hot tub, cabanas, water and sand volleyball, an outdoor theater, gas grills, an outdoor fire pit, a 24-hour fitness center, an off-leash dog park and a five-acre play scape with hammocks and an organic garden. The community is located on the Brazos River, offering abundant nature activities.
Lang tells GlobeSt.com: “The Hype drew a record level of activity and we brokered an all-cash transaction in tight time frame. The asset is located in a high-growth area with strong capital interest. We continue to see the space mature and become more institutionalized, which is great for the industry.”
Join the conversation June 2 at RealShare AUSTIN. Click here for more details on Austin CRE's premier information and networking event.
WACO, TX—Baylor University continues to grow with more than 16,000 students and more than 150 undergraduate degree programs, 75 master's degree programs and 30 doctoral programs. An asset that accommodates the growing student population nicely is The Hype, the closest student housing facility to Baylor's new $235 million football stadium.
The Hype has sold to a new owner/investor, and executive managing director and head of ARA Newmark's Student Housing group, Ryan Lang, represented the undisclosed seller for the housing property.
According to Lang, “Extensive renovations at The Hype in 2014 timed with the debut of McLane Stadium drew high interest. Baylor's brand is most certainly on the rise and will continue to fuel enrollment growth moving forward.”
The 430-bed Hype now offers all new interiors along with community amenities which include a swimming pool and hot tub, cabanas, water and sand volleyball, an outdoor theater, gas grills, an outdoor fire pit, a 24-hour fitness center, an off-leash dog park and a five-acre play scape with hammocks and an organic garden. The community is located on the Brazos River, offering abundant nature activities.
Lang tells GlobeSt.com: “The Hype drew a record level of activity and we brokered an all-cash transaction in tight time frame. The asset is located in a high-growth area with strong capital interest. We continue to see the space mature and become more institutionalized, which is great for the industry.”
Join the conversation June 2 at RealShare AUSTIN. Click here for more details on Austin CRE's premier information and networking event.
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