FAIRWAY, KS (March 12, 2019) – Platform Ventures, together with Johnson Trube and JE Dunn, announces the sale of Skyloft, one of the largest single-asset student housing transactions in recent history.
Located in Austin, Texas, adjacent to the University of Texas campus in the heart of the West Campus neighborhood, the 18-story, 674 bed, Class-A building, was sold to Nelson Partners Student Housing.
“This is a good success story for Platform Ventures and our investors, where we identified a well-located site and joined with premier partners to thoughtfully design a timeless asset to meet demand in the market,” said Platform Ventures’ Chief Investment Officer, Todd Blanding.
The building, equipped with modern conveniences such as the first high-rise rooftop pool and fitness center in West Campus, Amazon package receiving system, and coffee bar, was a joint venture by Platform Ventures, Austin-based developer, Johnson Trube, and Kansas City-based, JE Dunn. JE Dunn also performed construction of the building.
For over ten years, Platform Ventures, through its subsidiaries, has invested in real estate assets across the country. “Strategically, we really like student housing opportunities for a variety of reasons, but mainly because they tend to be counter cyclical, and Skyloft will likely be the first of many we’ll take on,” added Blanding.Click to read the full article.