Ares/Timberline JV Purchases 1,842-Bed Northpoint Crossing Student Housing Community in College Station

College Station, Texas — A joint venture between affiliates of Ares Management Corp. and Timberline Real Estate Ventures has purchased Northpoint Crossing, a 1,842-bed student housing community serving Texas A&M University in College Station. The 627-unit property was developed in 2014 and 2015 and is located across the street from the north corner of campus. Units feature studio, one-, two-, three- and four-bed floor plans. Amenities include two fitness centers, two computer labs, a 24-hour clubhouse, game rooms, outdoor grilling stations, sauna and steam rooms and a rooftop terrace. The Newmark team of Ryan Lang, Jack Brett and Ben Harkrider brokered the sale, representing the sellers, Woodridge Capital and funds managed by Oaktree Capital Management LP, in the transaction. Both entities are based in Los Angeles. The purchase price was not disclosed.