JV Snags Student Housing in Texas, NV
TPCO will undertake a multi-million renovation for High View Place, which marks the company’s third acquisition in the San Antonio market in the past 12 months.
The Preiss Co. (TPCO) in a joint venture with BCEG International Investment US, has acquired High View Place Student Apartments, a 624-bed community in San Antonio and Rebel Place, a 480-bed student housing property in Las Vegas. According to Yardi Matrix, TPCO bought Rebel place from Waypoint Residential for $23 million.
Located at 15949 Chase Hill Blvd., High View Place features a mix of one-, two- and four-bedroom units ranging from 545 to 1,351 square feet. Built in 2009, the community serves students attending the University of San Antonio. The 204-unit property includes common-area amenities including Wi-Fi, a clubhouse, a fully equipped computer lab, study spaces, a swimming pool and spa.
TPCO is in the midst of a multi-million renovation campaign that will add gaming centers with stand-up arcades, a sand volleyball court and picnic grilling areas. The community last traded in 2017, when Waypoint Residential sold it for $27.3 million. This acquisition marks the company’s third in the San Antonio market in the past 12 months, TPCO stated.