Updated Aug 13, 2025
Marc Lifshin Of Core Spaces Acquires 199-Unit Student Housing Property In Austin For An Undisclosed Amount
2313 Rio Grande Street
Units
199
Asset Type
Student Housing
Closing
Aug 13, 2025
About this deal
AI
The property asset involved in the transaction is a newly built 199-unit, 670-bed student housing property known as Villas on 24th, located at 2313 Rio Grande Street in Austin's West Campus. This Class A asset includes high-end amenities and bed-to-bath parity, making it a suitable choice for student living in the area.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: Not specified
- Units: 199
- Beds: 670
- Address: 2313 Rio Grande Street
- Market: Austin
- Buyer: Marc Lifshin - Core Spaces
- Broker: TSB Capital Advisors
This transaction was facilitated with the assistance of TSB Capital Advisors, who advised on the financing for Core Spaces as they acquired the student housing property developed by Villas Student Housing. Marc Lifshin represented Core Spaces in this deal, highlighting the collaborative effort between the buyer and their broker in securing the asset.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93