Will Balthrope, IPA executive director—along with Jennifer Campbell, Tommy Lovell III, Richard Robson and Will Griffin—represented the seller, Continental Properties. The team also procured the buyer, CEG Multifamily.
“Bryan/College Station was an attractive market to launch in, even during the COVID environment as the area’s high in-place yields attract a large number of buyers,” said Balthrope. “Additionally, Continental delivered a unique low-density product that was popular with investors,” added Campbell. “We presented 13 competitive offers, which is what we would have expected pre-COVID.”
The property’s location on University Drive near State Highway 6 gives residents access to a growing number of major employers. Texas A&M University, one of the largest research universities in the United States, is less than five miles away.
Built in 2017 on 13 acres, Springs at University Drive is a two-story garden-style community with attached and detached garages, an outdoor lounge and on-site car care area. Apartments have private entries and the average unit size is 980 square feet.