A joint venture between PCCP and The Dinerstein Companies has acquired two adjacent purpose-built student housing communities totaling 1,128 beds at 1300 Harvey Mitchell Parkway South in College Station, Texas, serving students attending Texas A&M University.
The properties formerly known as 2818 Apartments and Parkway Place have been combined and rebranded as one asset and renamed Sterling College Station.
PCCP has an established relationship with The Dinerstein Companies as a long-time partner across both its debt and equity platforms. Sterling College Station represents PCCP’s first student housing joint venture with Dinerstein.
Sterling College Station consists of two adjacent cottage- and garden-style communities that were delivered in 2008 and 2009. The property totals 350 units across a 44-acre site. The low-density configuration differentiates the community from higher-density podium product near campus, offering students larger layouts and more expansive indoor and outdoor amenity spaces.
The unit mix consists of one-, two-, and four-bedroom floorplans with an average unit size of approximately 1,230 square feet (sf). On-site amenities include a covered basketball court, cabana with outdoor grilling station, beach volleyball court, 24-hour fitness center, private study rooms, 24-hour business center with cyber café, and a clubhouse with community kitchen, WiFi, game lounge and pool tables.
The joint venture plans to implement a comprehensive renovation and operational improvement program across the combined asset. Planned enhancements include upgraded kitchens and bathrooms, new flooring and furniture packages, fitness center improvements, refreshed study and clubhouse spaces, pool upgrades, access control enhancements, pickleball courts, exterior repainting, and other common area improvements. The business plan also includes combining operations into a single community and implementing Dinerstein’s in-house property management platform.
Located approximately 2.5 miles from Texas A&M University, the property is positioned within an established student housing corridor serving upperclassmen and graduate students. The community is served by the AggieSpirit bus system, with a dedicated stop located directly in front of the leasing office.
