Source: FM Capital / #Student #Housing
WACO, TX - FM Capital's rapidly expanding student housing portfolio welcomes the addition of Enclave at the Stadium in Waco, Texas. Enclave is a 430-bed (200 unit) student community located within a mile of Baylor University.
"Baylor's strong athletics, coupled with academic prestige, and nearly 13% enrollment growth (over the past five years) make it a much-desired student destination," says Aaron Kurlansky, Principal, FM Capital. The property consists of 14 two-story buildings spread across a 15.5 acre lot, and is directly across from the university's football stadium, where the consistently strong Baylor Bears frequently draw sell-out crowds. "We look forward to capitalizing on this as we move forward with this asset."
FM Capital plans to maintain the name and general appearance of the property while making a few marked improvements. Improvements include landscaping, fresh paint, updating the clubhouse furniture and equipment, and improving other amenities to cater to the students' active lifestyles. In addition, Enclave's unique tailgating park will be enhanced with updated barbecue and seating stations. Furthering its pet-friendly attitude, new ownership will add a spacious and modern dog park in the coming months.
FM Capital is actively acquiring student housing properties in strong markets near and adjacent to universities with growing student populations.
FM Capital is a full service vertically-integrated Commercial Real Estate (CRE) investment firm, headquartered in New York and South Florida. Since their inception in 2007, they've acquired and disposed of more than $1 Billion in assets, over 15,000 multifamily units, and over 3,000 student beds.