SAN ANGELO - The 120-unit, 90 percent leased Angelo Place, a student housing complex that serves Angelo State University, has been sold to a New York private equity firm.
The five-year-old property was a distressed asset sold by the bank that had lent the developer — BVP San Angelo Place LP — funds in 2007 to build the property located at 1426 Western Court.
It is a well-located asset, according to Chris Epp with Apartment Realty Advisors’ National Student Housing team. The property attracted a great deal of attention during its five-week marketing period — the buyer put hard money down, which ultimately made the decision easier.
ARA's team kept mum on the seller of the asset and well as the buyer.
Read more at Globe St.
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