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2717 3rd Street

Updated Dec 16, 2025

PTLA Real Estate Group Acquires 276-Bed Student Housing Near Texas Tech From Capstone Real Estate Investments
SOLDStudent Housing

PTLA Real Estate Group Acquires 276-Bed Student Housing Near Texas Tech From Capstone Real Estate Investments

2717 3rd Street

Units

276

Asset Type

Student Housing

Closing

Dec 2, 2025

About this deal

AI

The asset involved in this transaction is a 276-bed student housing property located at 2717 3rd Street in Lubbock, Texas. The property, known as Raiders Walk, features amenities such as two swimming pools, a fitness center, and a clubroom. It was originally constructed in 1975, catering to the student population near Texas Tech University.

Summary of transaction details:

This transaction was brokered by Walker & Dunlop, representing both the buyer and seller. The sale involved the transfer of a 196-unit community specifically designed for student accommodation. The property remains in close proximity to Texas Tech University, enhancing its appeal and demand among potential renters.

On the Map

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Student Housing

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Players

Matthew Chase

Walker & Dunlop

Broker

$77M

vol

3 deals

Broker
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Lubbock Student Housing Market Snapshot

Boundary boundary · Student Housing · Sale transactions

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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

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