AUSTIN, TX – March 28, 2019 – HFF announced it has closed the sale of Villas on 26th, a luxury student housing property serving The University of Texas at Austin (UT Austin).

HFF worked on behalf of the seller, Zucker Properties.  Arrimus Capital purchased the property free and clear of existing debt.

Villas on 26th is located at 800 W. 26th Street less than half of a mile from campus.  Completed in 2014, the property is located at the epicenter of UT Austin’s West Campus student housing market, which positions it within walking distance to more than 50 retail, dining and entertainment destinations.  The property consists of 182 beds across 49 units averaging 1,591 square feet, 97 percent of which are larger three- to six-bedroom floor plans.  Units are equipped with state-of-the-art technology such as Savant smart home automation systems, 60-inch high definition TVs, Apple TVs, Polk surround sound speakers and in-wall iPad touch screens.  The property’s larger units also include private in-home movie theaters with 110-inch projection screens.  To complement the property’s cutting-edge technology, units feature condo-quality finishes, including custom stone countertops, stainless steel appliances. designer lighting, hardwood-style flooring, walk-in closets and in-unit washers and dryers.  Common area amenities include a swimming pool-sized hot tub on the mezzanine level, multiple outdoor patios with TV’s, 24-hour fitness center, multi-level underground parking and scenic UT Tower views.  Villas on 26th has remained 100 percent occupied since opening and is 90 percent pre-leased for the 2019/2020 academic year.

The HFF investment advisory team was led by director Ryan McBride and senior managing director Doug Opalka.