More changes in West Campus: 21 Pearl sells, Moon Tower rises

Austin
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AUSTIN (KXAN) — Another student-housing project in Austin’s densely populated West Campus neighborhood near the University of Texas has sold as new construction underscores continued investor interest.

21 Pearl — a 272-bed, six-story building at 911 W. 21st St. — was recently acquired by a joint venture consisting of Frisco-based Texla Housing Partners, North Carolina-based Southeast Apartment Investors and a private real estate fund advised by Dallas-based Crow Holdings Capital, Texla announced March 20.

The project was developed by Robert Lee, CEO of Pearlstone Partners — formerly Land Development and Construction LLC. The $26 million mid-rise building was completed in 2013.

Read the full story at the Austin Business Journal.

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