Jones Lang LaSalle, Inc (“JLL”) is pleased to present the opportunity to acquire 101 Center (the “Property”), a highly amenitized, 244 unit / 493 bed, 98.9% occupied trophy student housing asset located steps away from The University of Texas at Arlington (“UTA”). Perfectly positioned in the heart of downtown Arlington, 101 Center is defined by its market-leading infill location along South Center Street offering students direct access to UTA’s campus, numerous nearby retailers and the nexus of DFW’s sports entertainment district with 3 separate professional sports arenas within a 5-minute drive of the property.
Irreplaceable Asset in the Heart of Downtown Arlington: A mainstay in the heart of downtown Arlington, 101 Center is an irreplaceable asset to Arlington’s community and a state-of-the-art project setting a standard for public & private partnerships between local municipalities and developers.
Top Performing Asset at University of Texas-Arlington (UTA): Anchored as the epicenter of downtown Arlington, 101 Center is the top performing asset at 98.9% occupied at University of Texas-Arlington with top-of-the-market rents.
Unsurpassed Growth in the Fastest Growing MSA Nationally: With a population of over 7.8 million residents, the Dallas-Fort Worth Metroplex (DFW) ranks as the 4th largest metro area in the country. Equidistant from Dallas and Fort Worth, UT-Arlington is located in the heart of the fastest-growing metropolitan area in the U.S. adding over 170,000 additional residents from 2021 to date (U.S. Census Bureau).
Discount to Replacement Cost: Recently developed in 2018, 101 Center is offered at a discount to replacement cost today offering investors risk adjusted returns at an attractive basis.
Blue Chip Student Housing Market: Ranked in U.S. News & World Reports 2024 “Best Colleges,” UTA is a Tier-1 designated research university in Texas with nearly 46,000 students enrolled for the 2022/2023 academic year. With 18% of the student population supported by on- and off-campus student housing beds, UT-Arlington has witnessed outsized growth reporting 20% rent growth since 2020 with even more projected going forward.