The District on Luther

Since Acquisition: The property was purchased at approximately 25% below replacement cost. A $2.4 million capital plan was initiated to bring the property more curb appeal and enhance the clubhouse and amenities. Campus Advantage managed the asset prior to purchase, giving us a unique perspective into its potential in the marketplace. NOI is a cumulative 7.8% above pro forma NOI since inception.

  • Role: General Partner of JV with Institutional Investor
  • Location: College Station, TX (Texas A&M)
  • Acquisition: May 2010
  • Total Cost: $27.09 million
  • Beds: 1,098
  • Strategy: Value-Add
  • Loan-to-Cost: 54%

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