College Station, Texas — Lutz Real Estate Investments (LREI), in a joint venture with Harrison Street Real Estate Capital, has sold University Square and Laurel Ridge Apartments located near Texas A&M University in College Station.
University Square contains 192 beds and is located in close proximity to the campus core of Texas A&M University. Laurel Ridge consists of 568 beds and features an amenity package that includes three swimming pools, a fitness center, an Internet café and numerous sports courts.
LREI and Harrison Street acquired University Square and Laurel Ridge in December 2012. Upon acquisition, LREI upgraded the unit interiors, retooled the amenities, improved the site’s technology infrastructure and made select cosmetic upgrades to the properties.
Kevin Larimer of Berkadia represented the seller in this transaction. The buyer was undisclosed.