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WACO AND SAN ANTONIO, TEXAS — CB Richard Ellis (CBRE) Detroit multi-housing group has closed the sale of two Texas student housing properties to White Plains, N.Y.-based Woodlark Capital LLC. Champaign, Ill.-based Royal Properties sold the properties for an estimated $60 million. The Outpost, a 543-bed apartment complex in Waco, comprises six buildings totaling 224,577 square feet. The 12.51-acre property is located off Interstate 35 near Baylor University. The Reserve is a 753-bed complex that spans eight buildings. The 288,168-square-foot property sits on 33 acres near the University of Texas-Austin campus in San Antonio. Rob Stone of CBRE Detroit represented both the buyer and the seller.