College Station, Texas — Preferred Campus Communities, a wholly owned subsidiary of Preferred Apartment Communities, has acquired The Tradition, an 808-bed student housing community located one block away from the Texas A&M campus in College Station.
The property offers one- and two-bedroom units with bed-to-bath parity. Shared amenities include a resort-style pool, large courtyard, hammock gardens, barbecue areas and covered grills, a fitness center, a technology center with 30-plus computer stations, 20 private study rooms, a coffee bar, movie theater room, club room with pool tables and shuffleboard, and six gaming suites. Haven Campus Communities sold the property for an undisclosed price. The acquisition was financing utilizing a non-recourse, first mortgage bridge loan from Macquarie Group.