Tuesday, June 6, 2017

29th Street Capital Acquires The Reserve at West Avenue; Student Housing Community is Firm’s 2nd at Texas State University

The Reserve Student Housing Community, San Marcos, TX

John Price
SAN MARCOS, TX – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Reserve at West Avenue, a 152-unit, 488-bed luxury student housing community near Texas State University (TSU) in San Marcos, Texas.

29SC’s strategy is to invest $1 million to significantly improve the unit interiors as well as the property’s exterior and amenity package. 

Interior renovations will include granite countertops, new flooring and improved plumbing fixtures. Exterior improvements will focus on modernizing the clubhouse and pool area.

“The Reserve is the second student housing community acquired by 29SC in the last 12 months in San Marcos, which will bring the total number of beds to approximately 1,000,” said John Price, Ph.D., Senior Vice President with 29th Street.

 “We are very excited to expand our footprint at TSU and believe The Reserve represents a tremendous opportunity. The property is well-positioned relative to the main campus and downtown San Marcos and we plan to substantially increase the property’s appeal and provide the best value proposition to the ever-growing student body at TSU.”

The transaction closed May 26. The sale price was not disclosed.

Learn more about 29SC at https://29thstreetcapital.com.

 For a complete copy of the company’s news release, please contact:

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347

http://www.facebook.com/pages/Thornton-Communications/112101288827299 http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton

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