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AUSTIN-A Chicago company acquired the 62-unit Texan West Campus, taking advantage of the sudden burst of construction around the University of Texas-Austin campus. Though parties involved in the deal would not comment on the sales price, class A student housing similar to the just-built Texan West can go for as high as $300,000 per door.

Located on 2616 Salado St. five blocks west from the main campus, Texan West was developed and sold by local developers Texan Properties. The 100%-occupied student housing complex was snapped up by investor Campus Acquisitions LLC just weeks after the property's neighbor, the 76-unit Sterling University WestCamp at 2704 Rio Grand St., sold for less than $24 million.

Patton Jones, director of sales with Apartment Realty Advisors in Austin and San Antonio, says it was Sterling University's sale which spurred that of Texan West's. "We were showing Sterling University to interested parties, then we'd direct them across the street and let them know we were taking Texan West to market," he comments. Campus Acquisition placed an immediate offer on Texan West before Jones could formally market the project.