Student housing owner-operator The Preiss Company, and a private real estate fund advised by Crow Holdings Capital have jointly acquired the 694-bed Luxx student housing complex that serves the University of Texas San Antonio.This is the second acquisition of The Preiss Company’s in San Antonio and the third overall in 2019.
“With three completed deals in January, we are on track for the busiest quarter in our history, if not the strongest growth year we’ve experienced ever,” said Susan Folckemer, chief acquisitions & development officer, TPCO. “We will continue to take advantage of the prevailing marketplace as we continue to expand our footprint nationwide. Our pipeline remains full, and we expect to announce additional deals in the coming weeks.”
Serving the University of Texas San Antonio, The Luxx offers numerous room layouts for one, two and four beds. The community features a Las Vegas-style swimming pool area with swim-up bar, submerged seating and outdoor cabanas, as well as a 30-person hot tub.
Additional amenities include a covered patio with grills and flat screen televisions; advanced cyber lounge; private study rooms; community Wi-Fi; and a 24/7, two-story fitness center with its own spin room. All rooms are fully furnished, complete with energy-efficient appliances, wood-style flooring, ceiling fans, washer, dryer and deluxe, modern furniture.