The properties are located near the University of Texas at San Antonio and Wright State University in Fairborn, OH. The 204-unit La Cantera Place, a half-mile from the UTSA campus, is Place Properties' second acquisition in the San Antonio market, among several others in Texas, while 96-unit Rockdell Place near Wright State is its first purchase in Ohio.
La Cantera, which opens to students this month, is expected to build on the success of Place Properties' Hill Country Place apartments near UTSA, says Brent Little, national development partner for Place Properties. Rockdell Place has an advantage in that no new student properties are currently being built to serve Wright State's growing enrollment, he says.
Both student housing complexes offer units with up to four bedrooms each, with amenities such as private bathrooms, computer labs and fitness centers. La Cantera also features a resort-style swimming pool, while Rockdell Place has an online gaming center.
Place Properties is one of the nation's largest multifamily developers specializing in housing near colleges and military bases, with 14 projects in various stages of construction and completing more than $800 million of student housing properties since 1996. Blue Vista claims at least $550 million in capital under management and participation in joint ventures totaling $3 billion.
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