Austin, Texas — Nelson Partners has acquired Skyloft, a 674-bed student housing community located near the University of Texas at Austin, for $100 million.
The newly constructed, 18-story property offers studio, one-, two-, three-, four- and five-bedroom units. Shared amenities include a rooftop swimming pool; high speed wi-fi; an Amazon package locker system; meal vending machines; a state-of-the-art fitness center; a market place; and study lounges.
Ryan Lang, Brandon Buell and Jack Brett of Newmark Knight Frank Student Housing represented the seller, an affiliate of JE Dunn Capital Partners, in the disposition of the property. The trade is recognized as one of Austin’s and the student housing industry’s largest single-asset transactions in recent years, according to reports by Newmark Knight Frank.
The property is 77 percent pre-leased for the 2019-2020 academic year.