Student Housing Business

MAR-APR 2018

Student Housing Business is the voice of the student housing industry.

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NE WS IN BRIEF March/April 2018 12 FOURPOINT ARRANGES SALE OF THREE-PROPERTY STUDENT HOUSING PORTFOLIO IN TEXAS Denton, Arlington and Fort Worth, Texas — FourPoint Student Housing Investments has arranged the sale of a three-property student housing portfolio located in Denton, Arlington and Fort Worth, Texas. Properties include Midtown Denton, a 432-bed community located near the Univer- sity of North Texas in Denton; Midtown Arlington, a 218-bed commu- nity located near the University of Texas at Arlington in Arlington; and Edge 55, a 165-bed community located near Texas Christian University in Fort Worth. RedBridge Capital acquired midtown Arlington and Edge 55 in partnership with Juniper Ridge Partners. Both properties are set to undergo a value-add renovation program. An undisclosed joint venture with foreign capital purchased Midtown Denton. Chris Epp, Chris Ban- croft and Meredith Wolff of FourPoint brokered the transactions. ASSET CAMPUS HOUSING AWARDED MANAGEMENT OF 192- BED COMMUNITY NEAR SAM HOUSTON STATE Huntsville, Texas — Asset Campus Housing has been awarded manage- ment of Campus Edge Huntsville, a 192-bed student housing community located near Sam Houston State University in Huntsville. The property offers four-bedroom units. Shared amenities include a clubhouse, inter- net café, weight and fitness studio, game room, business and computer center and a resort-style pool BLUE VISTA SELLS 956-BED COMMUNITY NEAR THE UNIVERSITY OF MINNESOTA FOR $69.4 MILLION Minneapolis — Blue Vista Capital Management has sold Stadium View, a 956-bed student housing community located within walking distance of the University of Minnesota in Minneapolis. University Partners ac- quired the property for $69.4 million. The community consists of four interconnected, nine-story towers containing a mix of fully furnished two-, three- and four-bedroom units. Shared amenities include an out- door courtyard, fitness center, movie theater, social lounge, game room, computer lab and study rooms. Blue Vista acquired the property in 2010 on behalf of one of its student housing real estate funds. SABAN PURCHASES 384-BED STUDENT HOUSING PROPERTY NEAR SAM HOUSTON STATE UNIVERSITY Huntsville, Texas — Saban Real Estate has purchased Midtown Sam Houston, a 384-bed student housing property in Huntsville that serves Sam Houston State University students. The community offers two- and four-bedroom units with shared amenities including a pool, fitness cen- ter and resident clubhouse. Will Baker and William Shell of Walker & Dunlop provided an undisclosed amount of Fannie Mae financing for the acquisition. Chris Epp and Chris Bancroft of FourPoint Student Housing Investments represented the seller in the deal. Edge 55 is a 165-bed community located near Texas Christian University in Fort Worth, Texas. The sale of the property was recently brokered by FourPoint Student Housing Investments. Advertise in STUDENT HOUSING BUSINESS ® Rich Kelley | 914-468-0818 Andrew Johnson | 404-832-8262 Contact

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