COLLEGE STATION, TX. An affiliate of The Scion Group, in partnership with an international investment group represented by Arch Street Capital Advisors, has acquired “The Lofts at Wolf Pen Creek,” a high-end student housing facility providing 683 beds in 265 loft apartments and townhomes, plus street-level retail.
The Lofts at Wolf Pen Creek, developed in 2009, includes a mix of 1, 2, 3 and 4-bedroom lofts plus 2 and 4-bedroom townhomes, all furnished and featuring luxury finishes, including hardwood-style floors, custom cabinetry, flat-panel HDTV and walk-in closets. Most of the several buildings that comprise over 310,000 square feet of residential space are connected to one another to form an upscale resort-style community. Amenities include elevators, a staffed lobby, a 13,600 square-foot clubhouse, a two-story 24-hour fitness center, two swimming pools, a theater with stadium seating, an Internet cafe/sports bar, a media center and a covered parking deck with direct building access. Current retailers include Red Mango. The property is approximately one mile from Texas A&M University and is served by its own stop on the University’s shuttle bus system.
Scion will manage the property. “We’re proud to own The Lofts at Wolf Pen Creek, among the finest student housing assets anywhere in the world,” said Robert Bronstein, Scion’s President. “Scion is especially thrilled to join with Arch Street Capital and our investors, who share our view that core-quality student housing is well-suited to produce attractive investment yields with low leverage. We look forward to growing our portfolio of this asset type.”
Texas A&M University, founded in 1876 as the state’s first public institution of higher learning and located in College Station, currently has the sixth-largest enrollment in the United States, with over 49,000 students. The Lofts at Wolf Pen Creek also provides an attractive housing option for nearly 10,000 students attending Blinn College in neighboring Bryan, Texas.
Arch Street Capital Advisors specializes in assisting international investors with their U.S. real estate strategies, including industrial, office and multifamily sectors. Since 2003, the firm has advised clients on more than $2 billion of acquisitions, dispositions and financings.
Additional information about the property is available at LoftsAtWolfPen.com.