IPA Negotiates Sale of 696-Bed Student Housing Property in Denton, Texas

DENTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Gateway at Denton, a 696-bed student housing property that serves students at the University of North Texas. Built in 2005, the 228-unit complex is located within a half-mile from campus and features a mix of two-, three- and four-bedroom floor plans with complete bed-bath parity. Units range in size from 816 to 1,360 square feet. Amenities include a newly renovated clubhouse, three pools with cabanas, outdoor grilling and dining stations, basketball court, fitness center and a computer lab. Peter Katz and Drew Kile of IPA represented the seller, Los Angeles-based MJW Investments, in the transaction and procured the buyer, Vesper Holdings.