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SAN ANGELO, TX-A private equity firm in New York City beat out nine bids to win ownership rights to the 120-unit Angelo Place, a student housing complex that serves Angelo State University. The five-year-old property was a distressed asset sold by the bank that had lent the developer funds in 2007 to build the property.

Chris Epp of Apartment Realty Advisors’ National Student Housing team kept mum on the seller of the asset at 1426 Western Court, as well as the buyer. Tom Green County’s tax appraisal website lists Special Services Asset Management Co., c/o Bank of America in Elmhurst, IL as the servicer, while indicating BVP San Angelo Place LP as the developer. BVP is shorthand for Place Properties LP and Blue Vista Capital Management LLC, which co-invested in a fund that built the class B student housing property in 2006.

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