Waterway Family Funds announced that it has acquired 11th Street Flats, a 134-bed, 45-unit student housing community adjacent to Baylor University in Waco, Texas. JLL represented the seller, Newsome Development and Investments. This transaction marks the first student housing acquisition for Waterway Family Funds since Jeremy Pemberton, formerly with Waypoint Residential, joined the company in 2022.
Constructed in 2015, 11th Street Flats features two-, three- and four-bedroom units with nine-foot ceilings, granite countertops, private bathrooms for each bedroom, fully furnished living rooms, flat screen televisions and full-size washers and dryers. Community amenities include a fitness center, off-street parking, a study lounge, a campus view deck and bike racks. The property is 100 percent leased by Baylor University through the fall of 2024.
Situated at 1722 S. 11th St., the community is located between Interstate 35, La Salle Avenue and the
