Gabe L. Finke Of Ascentris And Andy Feinour Of Student Quarters Acquire 118-Unit Student Housing In Austin

The transaction involves a student housing property located at 2500 San Gabriel Street in Austin, featuring a total of 118 units and 243 beds. Built in 2023, this seven-story asset provides fully furnished units with luxury finishes. Amenities include a rooftop lounge and pool, enhancing the living experience for residents, and it is strategically situated steps from the University of Texas.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: Not disclosed
• Units: 118
• Beds: 243
• Address: 2500 San Gabriel Street
• Market: Austin
• Buyers: Gabe L. Finke - Ascentris; Andy Feinour - Student Quarters

Ascentris and Student Quarters have formed their first joint venture to acquire the property, with Student Quarters responsible for managing operations. There are plans to implement upgrades aimed at improving leasing and enhancing resident experience.