Updated May 19, 2025
Stonebridge Property Group Acquires 404-Unit Student Housing Community Near Texas A&M University
905 Colgate Drive
Building Size
387,810 SF
Asset Type
Student Housing
Closing
May 7, 2025
About this deal
AI
The property involved in the transaction is a student housing community located at 905 Colgate Drive in College Station, featuring a total of 404 units and 1,006 beds. It is conveniently situated near Texas A&M University and offers a diverse amenity package, which includes two swimming pools, a fitness center, study rooms, tennis and basketball courts, as well as a sand volleyball court.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: Not disclosed
- Address: 905 Colgate Drive
- Market: College Station
- Beds: 1,006
- Buyer: Stonebridge Property Group
- Seller's Representative: Mitch Holt & Jeyton McNair - McNair Collegiate Partners
McNair Collegiate Partners facilitated the successful transaction and represented the undisclosed seller. The buyer, Stonebridge Property Group, has plans to enhance both the units and amenities to improve the resident experience in this student housing community.
Players
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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