April 3, 2019
Arrimus Capital and Zucker Properties struck a deal for the sale of Villas on 26th, a luxury student housing property serving the University of Texas at Austin. The 182-bed complex is Arrimus’ fourth Class A student housing property serving a major Texas university. Ryan McBride and Doug Opalka with HFF represented the seller.
Zucker Properties delivered the property at 800 W. 26th St. in 2014. The student housing’s floorplans range from studios to six-bed units. Community amenities include a pool-sized hot tub, 24-hour fitness center, live-feed security cameras and outdoor seating, with televisions and stereo.
“From a market standpoint, new student housing near the university is severely constrained, because of the conversion of older existing properties to new commercial product,” said Arrimus’ Chris Lee. He added that, with university-owned housing occupancy at 100%, and only accommodating 15% of students, this represents “long-term leasing momentum for Villas on 26th.”
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