Landmark Properties Acquires Pointe On Rio Student Housing In Austin, Texas

The Pointe on Rio, a senior housing community located at 1901 Rio Grande Street in Austin, Texas, has been acquired by Landmark Properties. This property offers 122 units with a total of 321 beds. It caters to University of Texas at Austin students and boasts a nearly 94% pre-leasing rate for Fall 2024. The apartments feature hardwood floors and in-unit washer/dryers, providing upscale amenities to its residents.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: Not specified
• Units: 122
• Beds: 321
• Address: 1901 Rio Grande Street
• Market: Austin

JD Goering, Landmark Properties' Senior Vice President of Acquisitions, facilitated the acquisition of the Pointe on Rio property in Austin, Texas. The purchase was a strategic move by Landmark to capitalize on the property's success in the highly desirable student housing market. JD Goering expressed excitement about adding this property to Landmark's portfolio, especially noting the university's record enrollment growth as a contributing factor to the property's value.