January 16, 2019
The Preiss Co. acquired the Estates at San Antonio, a 288-bed, 102-unit, 58-building, off-campus student-housing complex that serves students attending the University of Texas-San Antonio. Aspen Heights UTSA LLC is listed as the seller of the asset at 6515 W. Hausman Rd.
The Raleigh, NC-headquartered buyer is planning a multimillion-dollar renovation of the property, which will focus on upgrading the clubhouse and amenity spaces. The buy represents Preiss’ first foray into the UTSA market. The company’s Adam Bryley noted that the acquisition is Preiss’ seventh along the Interstate 35 corridor between Austin and San Marcos, “creating numerous economies of scale and the ability to share best practices.”
Estates at San Antonio offers cottage-style, two-story buildings featuring two, three, and four-bedroom units. Amenities include a resort-style pool, sand volleyball court, grilling/picnic stations and a 24-hour fitness center.
Connect Houston is taking place in February 2019. For more information — or to attend — click here.
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