X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Locally based Place Properties Inc. and Chicago-based Blue Vista Capital Management LLC have acquired two college apartment complexes in Texas and Ohio through their Place/BV Student Housing Fund. The total value of the apartments is $44 million, according to a press release issued Tuesday by both firms.

The properties are located near the University of Texas at San Antonio and Wright State University in Fairborn, OH. The 204-unit La Cantera Place, a half-mile from the UTSA campus, is Place Properties’ second acquisition in the San Antonio market, among several others in Texas, while 96-unit Rockdell Place near Wright State is its first purchase in Ohio.

La Cantera, which opens to students this month, is expected to build on the success of Place Properties’ Hill Country Place apartments near UTSA, says Brent Little, national development partner for Place Properties. Rockdell Place has an advantage in that no new student properties are currently being built to serve Wright State’s growing enrollment, he says.

Both student housing complexes offer units with up to four bedrooms each, with amenities such as private bathrooms, computer labs and fitness centers. La Cantera also features a resort-style swimming pool, while Rockdell Place has an online gaming center.

Place Properties is one of the nation’s largest multifamily developers specializing in housing near colleges and military bases, with 14 projects in various stages of construction and completing more than $800 million of student housing properties since 1996. Blue Vista claims at least $550 million in capital under management and participation in joint ventures totaling $3 billion.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.