Time Equities (TEI) acquired The Armory at Sam Houston, a student housing complex located at 2257 Sam Houston Avenue in Huntsville, for $25.75 million. Built in 2018, the 145-unit/502-bed development is the nearest privately owned student housing property to Sam Houston State University’s campus.

TEI targets assets serving public, tier 2 institutions, catering to schools with a student population ranging between 10,000 and 20,000, versus assets serving Power 5 schools.

TEI’s Bobby Cohan added, “We continuously identify value and growth potential in student housing nationwide, and we are actively seeking new acquisitions to augment our portfolio within this asset class.”

This acquisition marks TEI’s fourth venture into student housing, complementing its existing properties in Tennessee, including assets at East Tennessee State University in Johnson City and Tennessee Tech University located in Cookeville, as well as a property in Richmond, Virginia that serves Virginia Commonwealth University.

The seller, Stonemont, was represented by Newmark.