The property involved in the transaction is Sterling College Station, a student housing community comprising 1,128 beds across 350 units, situated on a 44-acre site at 1300 Harvey Mitchell Parkway South in College Station, TX. The community was formed through the merger of the previous 2818 Apartments and Parkway Place properties. A comprehensive renovation and operational improvement program is planned for the asset.

This transaction marks a joint venture acquisition involving PCCP and The Dinerstein Companies, who have purchased the property from Mountain Capital Partners and Homestead. The joint venture aims to implement significant renovation and operational enhancements to the student housing community.