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Institutional Property Advisors Brokers Asset Sale for University of North Texas
https://yieldpro.com/2024/09/gateway-at-denton/
YIELDPRO writes:
“Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Gateway at Denton, a 228-unit, 696-bed, purpose-built student housing asset located near the University of North Texas (UNT) in Denton, Texas.
“Enrollment at UNT grew over 24% during the past five years to 47,507 students in fall 2023,” said Peter Katz, IPA executive managing director. “With this rapidly growing enrollment and little-to-no recent deliveries, the demand for off-campus student housing is outpacing supply, and as a result, Gateway at Denton is 100% occupied for the 2024-25 school year. Our team is appreciative to have helped facilitate this highly competitive bidding environment, and we acknowledge the seller and buyer on their collaboration in completing the trade.” Katz and Drew Kile, IPA executive managing director, represented the seller, Los Angeles-based MJW Investments, and procured the buyer, Vesper Holdings. Tim Speck, senior vice president and division manager is Marcus & Millichap’s broker of record in Texas.”
Read more in the original article below:
yieldpro.com
Institutional Property Advisors Brokers Asset Sale for University of North Texas Student Housing Gateway at Denton
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