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1136 W Washington StStephenville, TX 76401
The Edge on Washington
Asset ClassStudent Housing, Multifamily
# Beds: 341# Units: 141% Leased: 93.82%Access Data Room
Class A Student Housing Adjacent to Tarleton State University
overview of deal

Overview

The Edge on Washington is a 2021 built, Class A Student Housing Community located 0.1 miles from Tarleton State University. The community features 141 units and 341 beds with a diverse unit mix of studios, 1, 2, 4, and 5 bedroom units. Currently occupied at 94% for AY 25/26, The Edge on Washington is poised for unrivaled rental rate growth in a market with 21% YoY enrollment growth, limited competitive set, and zero development pipeline.

 

Tarleton State University has experienced unparalleled growth over the last few years with FTFY Freshman enrollment increasing by 39% since 2021 and an 80% increase in applications since 2023. The university enrolls over 21,000 students for AY 25/26 and is the #1 Fastest Growing University in Texas. With an off-campus student housing market of 1,887 beds, average year built 2018, and average occupancy at 96.2%, the TSU market is positioned perfectly for outsized rental rate growth over the next several years.

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Investment Highlights

# Units
141
# Beds
341
Year Built
2021
% Leased
93.82%
  • Located directly adjacent to Tarleton State University
  • Floor plans ranging from studios to 5-bed/5-bath units, giving students flexibility
  • Supply-constrained market, with just ~1,887 purpose-built beds compared to ~4,202 on-campus beds
  • Well positioned for outsized rent growth, supported by a nonexistent development pipeline and a 21% increase in university enrollment
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1136 W Washington StStephenville, TX 76401

Colliers National Student Housing

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Listing provided by Revere CRE