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Student Housing Daily - February 24 - Ascentris and Student Quarters acquire 243-bed housing in Texas

Student Housing Daily - February 24 - Ascentris and Student Quarters acquire 243-bed housing in Texas

Provident buys FIU-area student housing site for $22.5M. Saint Mary's College expands on-campus housing. Austin developer plans student housing project near Baylor University. Student housing preleasing accelerates but rents continues to soften. Four new student housing deals.

Aid Sopjani & Matt H
February 24, 2026

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NEWS ROUNDUP

ACQUISITION: Ascentris and Student Quarters acquire 243-bed housing in Texas. A JV between Ascentris and Student Quarters has acquired Noble 2500, a 118-unit, 243-bed purpose-built student housing community in Austin’s West Campus submarket near The University of Texas at Austin. The Class A asset was completed in 2023 and will be operated by Student Quarters. Jeff Higgins of Ascentris said the deal fits its strategy of buying or developing campus-adjacent Class A housing at Tier 1 universities and that Noble 2500 was acquired at a discount to replacement cost. Melanie Phelps of Student Quarters said the acquisition expands the firm’s UT Austin footprint and marks the partnership’s entry into one of the country’s top student housing markets.

FINANCING: Provident buys FIU-area student housing site for $22.5 million. Provident Resources Group acquired a 1.3-acre student housing development assemblage near Florida International University in Sweetwater for $22.5 million through an affiliate led by CEO Christopher Hicks. The seller was FIU Student Housing Estates, managed by Jason Talbot of Workforce Housing Partners, following a settled dispute with Nef over capital contributions tied to the prior ownership group.

DEVELOPMENT: Saint Mary’s College expands on-campus housing. Saint Mary’s College will expand residence hall capacity next fall after enrolling 497 freshmen, its largest class since 2007. Juls White said the College will utilize additional space across Le Mans Hall, Regina Hall, McCandless Hall, Regina South Hall and Holy Cross Hall to house incoming students. The College will also take full possession in March 2026 of Bertrand Hall, Bertrand Annex and Lourdes Hall, buildings purchased from the Sisters of the Holy Cross in 2021.

DEVELOPMENT: Austin developer plans student housing project near Baylor University. An Austin-based developer is planning a new off-site student housing project near Baylor University after reaching an agreement to purchase part of the property owned by Seventh & James Baptist Church, a 127-year-old congregation. Baylor confirmed it is not involved in the project.

READ: Student housing preleasing accelerates but rents continue to soften.