Waypoint Campus Housing Acquires $102M Portfolio
May 19, 2017
Waypoint Residential recently launched a student housing arm with the purchase of four off-campus properties near state universities in Texas, North Carolina and Nevada.
By Adina Marcut
After its recent addition of three new VPs, vertically integrated real estate investment firm Waypoint Residential has launched Waypoint Campus Housing LLC, which purchased a $102 million portfolio of four student housing properties. Waypoint Campus Housing acquired the 2,638-bed portfolio from Blue Vista Capital Management.
The portfolio includes:
- High View Place, a 204-unit off-campus community situated close to University of Texas at San Antonio. The three-story building consists of one-, two- and four-bedroom units averaging 1,108 square feet. Community amenities include a fitness center, business center, clubhouse, swimming pool, spa and volleyball court.
- Maverick Place, a 116-unit property offering University of Texas at Arlington students high-end features and amenities such as a fitness center, business center, swimming pool and spa. The four-story building consists of one-, two- and four-bedroom units averaging 1,123 square feet. Additional amenities include a game room and a sand volleyball court.
- Rebel Place, a 156-unit community minutes away from University of Nevada Las Vegas. The four-story building offers one-, two, three- and four-bedroom units ranging from 871 square feet to 1,409 square feet. Common-area amenities include a 24-hour fitness center, pool table, clubhouse with media room and Wi-Fi, poolside theater and a spa.
- Spring Place, a 168-unit property located in close proximity to University of North Carolina at Greensboro campus. The three-story building consists of two- and four-bedroom units averaging 1,183 square feet and features amenities such as a clubhouse, fitness and business center, swimming pool, volleyball court and basketball court.
“The student housing sector continues to demonstrate strong fundamentals, notably enrollment growth and continued strong occupancy,” Jeremy Pemberton, Waypoint Campus Housing’s CEO said in prepared remarks. “As a result, student housing has matured into a more discernable asset class with an ever-growing investor demand.”
Images courtesy of Yardi Matrix
