The Oasis San Antonio
220-unit, 694-bed Student Housing Apartment
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Case Studies
Description
Built in 2014, The Oasis San Antonio is a 220-unit, 694-bed student housing apartment community located in San Antonio, TX, proximate to The University of Texas at San Antonio (UTSA) campus. The Oasis San Antonio is a five-minute drive to the school through the usage of the university shuttle route, which has a stop right in front of the property. The asset has comprehensive amenities including a Vegas-style pool, dog park, volleyball court, Luxer package system, fitness center, study spaces, and outdoor grilling stations.
Location
6023 UTSA Boulevard
San Antonio, TX 78249
Opportunity + Execution
Execution: Value Add | Deal Source: Off-market
- The Palladius team had familiarity with the asset after initially underwriting and submitting an offer on The Oasis San Antonio in March 2023. Palladius principals and team members acquired Avalon Place, a student housing asset servicing The University of Texas at San Antonio (“UTSA”) in 2017, which provided deep market knowledge.
- The Property had been mismanaged, which presented the opportunity for rent increases without a comprehensive unit interior improvement program.
- There were 594 on-campus student housing beds in the development pipeline. Even with the additional supply, there remained a substantial supply-demand imbalance for the foreseeable future as enrollment is anticipated to increase.
- UTSA has grown enrollment by 21.8% over the past decade and serves approximately 35,000 students. The University grew freshman enrollment by 3.3% in 2023. The university has targeted enrollment growth of more than 10,000 students by 2028.