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.
