Landmark Properties has acquired Pointe on Rio, a student housing property in Austin.
Pointe on Rio, soon to be rebranded as Tradition on Rio, is Landmark’s seventh asset in the Austin market; the acquisition adds 321 beds and 122 units to the company’s portfolio.
Built in 2014, this mid-rise community at 1901 Rio Grande Street boasts a nearly 94 percent preleasing rate for the Fall 2024 term and is a popular choice for students attending the University of Texas at Austin who are looking to live close to campus. Its diverse range of apartment layouts, spanning from studio to five-bedroom floorplans, features upscale amenities including hardwood floors, stainless steel appliances, and in-unit washer/dryers.
“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,” said JD Goering, Landmark’s senior vice president of acquisitions. “U
