Wednesday, August 31, 2016

29th Street Capital to Expand Student Housing Acquisitions; Acquisition Opportunities Sought Nationwide

Villagio Student Apartments Pool and Clubhouse, San Marcos, TX

Austin, TX – Privately-held real estate investment firm 29th Street Capital (29SC) is looking to expand its foothold in the growing national student housing market.

The firm entered the market in July with the acquisition of the 492 bed Villagio student apartments near the campus of Texas State University in San Marcos, Texas. It is currently seeking other opportunities nationwide, and particularly in Texas.

Senior Vice President John Price heads the new division. He is seeking opportunities in markets where the supply of newer student housing assets is keeping pace with, but not exceeding, the demand of enrollment growth.

John Price
“29SC will continue to focus on investing in high-return amenities and quality interior upgrades at well-located properties acquired at a reasonable basis,” Price said.

“We feel this is a logical progression of our goal of offering investors excellent returns within this real estate asset class without taking on unnecessary development risk.” 

"Since its formation in 2009, 29SC has deployed over $450 million of investor equity, including more than $200 million for multifamily investments," said Managing Director Robb Bollhoffer.

"The capital allowed for the acquisition and renovation of more than 8,500 traditional multifamily units in properties across 11 U.S. states.

 Expanding on this existing footprint, student housing offers a promising new line of business for our value-add business model."

For a complete copy of the company’s news release, please contact: Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347

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