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- Palladius Capital Management Acquires The Luxx in $170M Residential Investment Surge
Palladius Capital Management Acquires The Luxx in $170M Residential Investment Surge
Slice of Real Estate Team
June 12, 2024
Key Highlights:
Acquisition of The Luxx, a 694-bed student housing community near UTSA.
Investment along Austin-San Antonio I-35 Corridor surpasses $170M in 12 months.
Palladius plans extensive upgrades to enhance resident experience.
UTSA's enrollment growth drives demand for high-quality student housing.
Source (Business Wire)
Notable Quotes
“We are excited to acquire such an exceptionally well-located asset in a market we know well at an attractive basis and look forward to leveraging our operating expertise to add incremental value to the property and provide residents with an exceptional living experience.”
“The Luxx is both exemplary of the strong fundamentals we look for in student housing assets and located in a market where we’ve been highly active over the last two years, acquiring over 2,000 beds.”
Our Take:
The acquisition of The Luxx by Palladius Capital Management marks a significant strategic expansion in the student housing sector along the Austin-San Antonio I-35 Corridor. This move not only solidifies Palladius' presence in a rapidly growing market but also aligns with the increasing demand driven by UTSA's enrollment growth. With planned capital improvements, Palladius demonstrates a commitment to enhancing the quality of living for students, leveraging their deep market knowledge and operational expertise. This acquisition is poised to deliver substantial value to both residents and investors, reflecting Palladius' strategic foresight in targeting high-growth areas and high-demand asset classes.