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June 17, 2024
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Palladius Capital Management Acquires 694-Bed Student Housing Property in Texas


Palladius Capital Management has purchased The Luxx, a 220-unit, 694-bed student housing community in San Antonio, TX. The property is located at 6023 UTSA Blvd, within walking distance of The University of Texas at San Antonio (USTA). The price was not disclosed.

Situated a quarter of a mile from campus, the 15-acre community offers both apartment and townhome accommodations, with state-of-the-art amenities, including in-unit laundry, walk-in closets, granite countertops and high-end appliances. Residents enjoy community access to a resort-style pool, an outdoor pavilion and lounge, a two-story fitness and cardio center, a “cyber” lounge and a UTSA campus shuttle.

The Luxx is just 20 minutes from the San Antonio metropolitan area, home to popular attractions such as the Riverwalk, La Villita, San Antonio Botanical Garden and numerous shopping malls. Six Flags Amusement Park is five minutes to the north, offering residents a variety of entertainment options and activities.

Ryan Lang, Jack Brett and Ben Harkrider with Newmark represented the seller, a joint venture between Crow Holdings Capital and The Preiss Company. The asset was 95% occupied at the time of the sale.

With strong enrollment growth projections, the San Antonio student housing submarket has no private off-campus student housing assets under construction through 2025. This lack of new development, coupled with San Antonio’s own population growth, continue to strengthen the supply and demand fundamentals of the UTSA market. Purpose-built student housing properties are expected to maintain stable occupancy and experience strong pre-leasing rates in the coming years.

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