Landmark Properties Acquires Pointe on Rio Near University of Texas at Austin

Austin, Texas — Landmark Properties has acquired Pointe on Rio, a 321-bed student housing community located at 1901 Rio Grande St. near the University of Texas campus in Austin. The mid-rise property, which will be rebranded Tradition on Rio, was built in 2014. The community offers units in studio through five-bedroom configurations with hardwood floors, stainless steel appliances and in-unit washers and dryers. Shared amenities at the property include a courtyard swimming pool, resident lounge, gaming area, pool table, on-site parking, fitness center and conference and study space. The community, which is Landmark’s seventh asset in the Austin market, is 94 percent pre-leased ahead of the 2024-2025 academic year. “We’re excited to add Pointe on Rio to the Landmark portfolio — a well-performing asset in one of the most institutionally sought-after student housing markets in the country,” says JD Goering, Landmark’s senior vice president of acquisitions. “The University of Texas at Austin’s fall 2023 enrollment marked the university’s largest-ever with 1.3 percent growth year over year.” The seller and terms of the transaction were not disclosed.