Tuesday , 27 June 2017
Breaking News

Student Housing Project Near Texas A&M is Sold

COLLEGE STATION, Texas – A joint venture of Alex. Brown Realty, and Asset Plus Cos. of Houston has sold Crossing Place Apartments in College Station, Texas to Seattle-based Horizon Realty Advisors. HFF represented the Seller. The 384-bed complex at 400 Southwest Parkway is located one mile from the Texas A&M University campus. ABR and Asset Plus purchased the property in May 2012 and it is currently 100 percent leased for the 2013/2014 school year.

“From the outset, we had confidence that our investment in Crossing Place would be very successful,” said Michael McGrath, Chairman and President of Asset Plus. “Our low-basis, coupled with a successful marketing strategy and strong market fundamentals allowed for a timely and profitable disposition.”

Crossing Place Apartments represents the second joint venture between ABR and Asset Plus. Asset Plus also provides property management services for four additional properties owned by ABR investment programs.  Alex. Brown is based in Baltimore.

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