November 3, 2020
Ocean West Capital Partners closed on the acquisition of Moontower, a 567-bed student housing community located at the University of Texas at Austin. Ocean West led the investment group, comprised of Tiger Alternative Investors, Korea Investment & Securities Co., and Landmark Properties.
“Ocean West continues to value the partnership it has formed with Tiger, KIS and Landmark, and we look forward to new opportunities to grow our portfolio together,” said principal Ryan Tucker. “The Moontower asset is truly one of the premier trophy assets in the country, and we strongly believe in this market and this university. We have great expectations for this asset going forward.”
The 18-story high-rise was completed before the Fall 2020 semester, and the property opened at nearly 100% occupancy. Over the past 15 months, this joint-venture partnership has now acquired seven student housing assets totaling more than 4,400 beds and $800 million in value.
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