AUSTIN, TX – January 16, 2020 – Berkadia announced today the sale of The Lyndon at Springtown, a 233-unit, 515-bed student housing apartment community located near Texas State University. Senior Managing Director Kevin Larimer and Director Greg Gonzalez of Berkadia’s Student Housing team, together with Managing Director Kelly Witherspoon and Directors Justin Cole and Michael Gonzalez of Berkadia’s Austin office, completed the sale on behalf of Austin-based Endeavor Real Estate Group. The buyer was Chicago-based Harrison Street. The deal closed on December 20.
“The Lyndon at Springtown is an exceptional student housing community that was 100 percent occupied with a waiting list at delivery and is out pacing the market for 2020 preleasing,” said Greg Gonzalez. “Endeavor recognized the market demand for a differentiated student housing development and strategically addressed the appetite of modern college students to build a best-in-class property with unparalleled amenities in a market leading retail hub just blocks away from one of Texas’ largest universities boasting impressive enrollment growth.”
“Endeavor has continued their impressive track record of developing high quality, value-generating developments in the Austin area,” added Witherspoon. “With this sale, Endeavor has realized their strategic vision on this project and at the same time, created a project that offers continued growth potential well into the future for Harrison Street.”
Located at 200 Springtown Way, The Lyndon at Springtown offers a mix of modern one-, two, and four-bedroom units and offers a range of amenities, including TVs in every living room, premium cable and high speed internet, numerous study suites, an indoor and outdoor fitness center, a pet park, a recreation room and a resort style pool with jumbotron. It is conveniently located within walking distance of a variety of retail, entertainment and dining options.