College Station, Texas — The transaction is the second joint venture purchase for the two firms, which seek infill close to campus.
College Station, Texas — Lutz Real Estate Investments and Harrison Street Real Estate Capital have acquired University Square Apartments and Laurel Ridge Apartments & Townhomes, two student housing communities near Texas A&M University. 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. Drew Anderman of Walker & Dunlop’s New York Office arranged the first mortgage loans pursuant to the Fannie Mae Delegated Underwriting and Servicing program. Asset Campus Housing will provide leasing and management services at both properties.
This purchase represents the second acquisition in a series of student housing investments planned by the joint venture of Lutz Real Estate Investments and Harrison Street Real Estate Capital. Earlier this year, Lutz and Harrison Street acquired two student housing communities totaling 450 beds at the University of Connecticut.