(To read more on the multifamily market, click here.)
AUSTIN-A Chicago company acquired the 62-unit Texan West Campus,taking advantage of the sudden burst of construction around theUniversity of Texas-Austin campus. Though parties involved in thedeal would not comment on the sales price, class A student housingsimilar to the just-built Texan West can go for as high as $300,000per door.
Located on 2616 Salado St. five blocks west from the maincampus, Texan West was developed and sold by local developers TexanProperties. The 100%-occupied student housing complex was snappedup by investor Campus Acquisitions LLC just weeks after theproperty's neighbor, the 76-unit SterlingUniversity WestCamp at 2704 Rio Grand St., sold for lessthan $24 million.
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