Preiss Acquires 288-Bed Community in San Antonio
Serving the University of Texas-San Antonio, the student housing community will undergo a multi-million renovation plan. The Preiss Co. will manage the property.
The Preiss Co. (TPCO) in a joint venture with Centaline Investment Management Co., has acquired The Estate at San Antonio, a 104-unit student housing community in San Antonio. TPCO will manage the property.
The 288-bed property sits on approximately 10 acres at 6615 W. Hausman Road and provides convenient access to the University of Texas-San Antonio. The Estate at San Antonio features a mix of two-, three- and four-bedroom units ranging from 1,500 to 2,400 square feet. In-unit amenities include a powder room, granite tile kitchen countertops, concrete flooring, modern light fixtures, washer/dryer and patio or balcony. Various dining, shopping and entertainment venues, as well as all university classrooms and athletic facilities are within walking distances.
Common-area amenities include:
- private campus shuttle
- swimming pool
- sun deck
- outdoor spa
- grilling and picnic stations
- sand volleyball court
- 24-hour fitness center
- theatre room
- cyber lounge
- basketball court
“We remain bullish on the Texas university marketplace and are pleased to add our first student housing community serving the UTSA market,” Adam Byrley, COO of TPCO, said in a prepared statement. “This marks our seventh community in the Interstate 35 Corridor between Austin and San Marcos, creating numerous economies of scale and the ability to share best practices.”
The company will implement a multi-million renovation plan, which will include upgrading the clubhouse and amenity spaces. Back in October 2018, TPCO has expanded its student housing portfolio by including Signature 1909, a 464-bed community in Austin, Texas.
Image courtesy of Yardi Matrix