AUSTIN, TX – The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, announced the acquisition of the 135-unit/251-bed 21 Pearl, off-campus student apartments serving the University of Texas at Austin. The company also announced extensive upgrades to improve unit interiors, the clubhouse and to install a new tech package for all residents.
With nearly two decades in Austin, we continue to have a large ownership/management presence in the Austin student housing market, said John Preiss, President. TPCO has been watching The Pearl since its initial construction, and we know we can provide value to this incredible asset through targeted capital, installation of new technologies, and our proprietary management platform.
Located at 911 W. 21st Street just minutes from University of Texas at Austin, the off-campus apartments provide 1-, 2-, 3- and 4-bedroom floor plans focused on comfort and privacy. Each apartment is furnished with private bedrooms, along with an in-unit washer and dryer, high speed internet access and cable. Fully equipped kitchens also are available in the pet-friendly building. All residents may delight in an outdoor courtyard with grilling stations, 24-hour fitness center and resident clubhouse featuring stylish lounge areas and private study areas.
The multi-million dollar renovation includes interior upgrades on approximately half the units, with new flooring, updated kitchen cabinetry, bathroom upgrades, and new furniture. The entire building will undergo massive tech improvements, including enhanced Wi-Fi, access control, and smart thermostats. Additionally, the clubhouse will receive new renovations to enhance the resident experience.
TPCO is experiencing a strong transactional year, said Preiss. We recently closed on an asset in Kennesaw, Ga., and have two other deals currently under contract. We are also actively in the process of developments in Nashville, Chapel Hill, Raleigh and Knoxville. Additionally, we are broadening our reach through third-party management, having added seven new properties in the last quarter.

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WILMINGTON, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of multifamily communities, announced the acquisition of Seaboard at Sidbury Station, a newly constructed, 113-unit, build-for-rent (BFR) housing community in the Wilmington suburb of Castle Hayne, North Carolina. The community was bought on behalf of CS1031 Sidbury Station BFR Housing, DST, which seeks to raise equity from accredited investors.
This represents Capital Square’s fifth BFR offering for its Section 1031/Delaware statutory trust program and the eighth BFR project for its private equity group. Led by co-chief investment officers, Dave Platter and Jon Trott, Capital Square’s private equity group was formed to profit from opportunities in the housing market, including a dedicated build-for-rent strategy in high-growth Sunbelt markets.
“Capital Square invests broadly in housing – Class A and B multifamily, manufactured housing in Florida and BFR communities throughout the Sunbelt,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Capital Square’s investors are attracted to newly constructed BFR communities such as Sidbury Station because demand is strong from residents who want a single-family home but can’t afford to own. Capital Square’s BFR communities help to satisfy the demand for a single-family home with amenities at an affordable price.”
Located at 6105 Dichondra Road, construction of Sidbury Station was completed in 2023. Developed by D.R. Horton, the nation’s largest homebuilder by volume, the modern units boast a mix of three-, four- and five-bedroom detached single-family homes, averaging 1,829 square feet. The open floor plans feature high-end amenities, including granite countertops, stainless steel appliances, full-size washers and dryers, walk-in closets, smart home integration, backyards and attached two-car garages. Luxurious community amenities include a resort-style swimming pool, fitness center, clubhouse, sport court, playground and professional landscaping.
Sidbury Station enjoys a prime position on the state’s coast within the Wilmington, NC, metropolitan statistical area. The Wilmington area offers a high quality of life characterized by a mild coastal climate, abundant outdoor recreational opportunities and a strong sense of community. The area includes opportunities to boat, fish and golf year-round, as well as family-friendly attractions, top-rated schools and a variety of dining options.
Infrastructure plays a pivotal role in Wilmington’s economic vitality. The Wilmington International Airport facilitates regional and national connectivity, supporting business travel and tourism, and the Port of Wilmington, one of the busiest ports on the U.S. East Coast, enhances the region’s global trade capabilities by handling a diverse range of cargo and contributing significantly to the local economy.
The region’s tourism sector, fueled by its pristine beaches and historic attractions, generated over $1 billion in revenue as of 2022, attracting millions of visitors seeking leisure and recreation opportunities. The healthcare industry is another cornerstone, supported by major medical facilities and a growing demand for healthcare services.
“Wilmington has experienced a 30% growth in jobs since 2020, led by healthcare, government and education, while the population is expected to grow by approximately 3% annually,” said Whitson Huffman, co-chief executive officer. “Limited supply in the area has provided Capital Square with the strategic advantage to drive occupancy and rental growth. Sidbury Station is one of only four purpose-built rental communities that make up less than 2% of the metro area’s rental inventory, and it has already reached 95% occupancy as of June.”

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KANSAS CITY, MO – Hamilton Zanze, a San Francisco-based real estate investment firm that owns and operates multifamily communities nationwide, announced it has bought Crossroads Westside, a 222-unit apartment community in downtown Kansas City, Mo. The acquisition closed on July 23. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the property.
“We are excited to expand our presence in the Kansas City metro through the acquisition of Crossroads Westside,” said David Nelson, President and Chief Investment Officer at Hamilton Zanze. “Our Kansas City properties are some of the highest-performing assets in our portfolio, and Crossroads Westside is expected to enhance that performance through its stable, above-market cash yield, resilient resident base and Mission Rock’s institutional property management practices. Kansas City is a market touted for its attractive apartment supply dynamics, robust workforce and persistent occupancy, so we hope to capitalize through continued expansion in the market.”
Situated at 601 Avenida Cesar E Chavez, Crossroads Westside was built in 2018 and offers one- and two-bedroom apartment homes. Units range in size from 614 square feet to 1,252 square feet. Homes feature stainless steel appliances, granite countertops, designer glass tile backsplashes, ceiling fans, modern lighting, wood floors, private patios/balconies, thoughtfully designed open-concept floor plans and striking views of the surrounding area. Community amenities include a saltwater pool, dog spa, modern fitness center, expansive sundeck, private art garden, business center, co-working spaces, fire pit, arcade and entertainment lounge.
Crossroads Westside is located within the historic Crossroads Art District, a charming neighborhood with a collection of boutique shops, restaurants, coffee bars, brewpubs, studios and art galleries. Residents also have simple access to Pennway Point, a new family-friendly entertainment district, and are within walking distance of the Kauffman Center for the Performing Arts and two well loved shopping districts: Crown Center, which includes Hallmark’s international headquarters and the renowned Hallmark Visitors Center, and Country Club Plaza.

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