The Bascom Group has acquired Texan 26, a 53-unit, 204-bed student housing community near the University of Texas at Austin campus. The previous owner was Article Student Living, the surviving entity of QuadReal’s acquisition of CA Student Living Properties, according to Yardi Matrix information.
Matthews Real Estate Investment Services represented the seller in the off-market deal, while Bridge Investment Group provided acquisition financing in a transaction arranged by Newmark.
The 2014-completed student community consists of two- to seven-bedroom layouts, ranging between 885 and 2,800 square feet. Apartments feature washers, dryers, stainless steel appliances, granite countertops and private balconies or patios in select units. Amenities at the five-story building include bike storage, courtyard, coffee and breakfast bar, together with some 120 parking spaces.
The new owner intends to upgrade the community; SD-Cap will serve as construction manager. Asset Living will manage the property.
Texan 26 is at 1009 W. 26th St. in the West Campus neighborhood, half a mile from the University of Texas at Austin’s campus and 1.5 miles from Darrell K Royal Texas Memorial Stadium. Capital Plaza shopping mall is within 4 miles, while downtown Austin is less than 2 miles away. Austin-Bergstrom International Airport is 12 miles southeast.
The Matthews Real Estate team who represented the seller comprised Associate Vice President Tyler Marshall and Associate Richard Waterhouse. Principal James D’Argenio and Director Chang Liu managed the transaction for Bascom.
Newmark’s team included Director Trent Houchin, Executive Managing Director Ben Roelke and Senior Managing Director Ian Walker. Last year, the trio was part of the team that secured the financing for Axonic Properties’ acquisition of a 382-bed community in Arlington, Texas.
