SAN MARCOS - Dakota Ranch, a student housing property, has been sold.
Dakota Ranch is a 316-bed property located at 1818 Old Ranch Rd. 12, near the main campus of Texas State University.
Purpose-built as student housing in 2003, the property contains 188 apartment units located within ten three-story buildings on 17 acres.
At closing, the property was 99 percent occupied for the 2015–2016 school year.
The property will undergo capital improvements that are expected to drive higher rents for the 2016-2017 school year.
The acquisition is a joint venture between Alex. Brown Realty and Asset Campus Housing.
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