Champaign-Urbana, Ill. and San Antonio, Texas — Arrimus Capital has acquired two student housing communities located in Illinois and Texas.
Acquisitions include 212 East, a 428-bed student housing community located near the University of Illinois’ Campustown district in Champaign-Urbana; and Prado, a 472-bed, mixed-use student housing community located adjacent to the University of Texas at San Antonio. Shared amenities at 212 East include a state-of-the-art fitness center, group and private study rooms, a community lounge with billiards and televisions, and an outdoor courtyard with a fire pit, grilling areas and hammocks.
Prado offers community amenities including a clubhouse, game room, kitchen and study areas, a 24-hour fitness center, business center with study rooms, and a resort-style pool with a covered entertainment area. Arrimus acquired 212 East from XFD Real Estate Partners for an undisclosed amount, and acquired Prado from Fountain Residential Properties. HFF represented XFD Real Estate Partners in the 212 East transaction, and CBRE represented Fountain Residential Partners in the Prado transaction.