Colliers Brokers Sale of 341-Bed Edge on Washington Student Housing for Tarantino Properties, Inc.

Colliers has brokered the sale of Edge on Washington, a 141-unit, 341-bed Class A student housing community in Stephenville, Texas, on behalf of seller Tarantino Properties, Inc., the firm announced Nov. 2. The property sold Oct. 16 to a buyer described as a multifamily developer.

The 135,525-square-foot community is located at 1316 W. Washington Street, directly across the street from Tarleton State University, which Colliers described as the fastest-growing university in Texas.

Colliers Team Represents Tarantino Properties, Inc.

Sean Baird, Jonathan Holt, Cole Cusmano, Chip Nash and Bob Heard of Colliers represented the seller, Tarantino Properties, Inc., in the transaction. Baird is a senior vice president at Colliers. Nash and Heard are each principal and executive vice president in Colliers' Houston office.

"Edge on Washington is a great example of how recent capital markets challenges have shifted the buyer pool across asset classes," Baird said. "The community was purchased by a multifamily developer who recognized this opportunity provided like-kind returns to multifamily development without the development risk."

Property Details and Occupancy

Edge on Washington is fully occupied for the 2026-27 academic year, including a partial master lease with Tarleton State University. Public listings indicate the community was built in 2020.

Amenities include a resort-style swimming pool, study lounge, clubhouse and grill, fitness center, front desk and security, mailroom, retail space and parking. Apartment interiors include granite countertops, fully equipped kitchens, in-unit washers and dryers, walk-in closets, luxury fixtures, hardwood and tile flooring, plush carpeting and central heating and air conditioning.

Tarleton State Enrollment and Housing Supply

Demand for student housing near the Stephenville campus is shaped by enrollment growth and limited on-campus capacity. Tarleton State has 4,202 on-campus beds and more than 28,000 students enrolled for fall 2026, meaning on-campus beds equal roughly 15% of enrollment. Off campus, 1,887 beds serve the community, including the 341 beds at Edge on Washington.

The university received more than 21,000 freshman applications for fall 2025, approximately 80% more than two years earlier. That marked the university's sixth consecutive year of enrollment growth and the strongest single-year increase among Texas universities. Tarleton State also requires new first-time-in-college students to live on campus for one year, a policy that can support demand for nearby private housing as campus capacity remains constrained.

"Tarleton State University's fast growth and the strong demand for student housing makes this a great investment for the buyer," Baird said. "Adding to the appeal, it boasts the best location in a very competitive market."

Market Context: Operating Assets Versus Development

The buyer's approach reflects a strategy of acquiring an operating, fully leased student housing asset rather than pursuing ground-up multifamily development. Colliers characterized the acquisition as offering returns comparable to multifamily development without construction and lease-up risk.

The property competes with university-operated housing, including residence halls and apartment-style options such as Texan Village, Texan Hall, The Edge and Fireside. Tarleton State's published fall 2026-spring 2027 rates include about $3,081 per semester for shared two-bedroom, two-bath housing at Texan Hall and $4,020 per semester for four-bedroom, two-bath units.

Sources

• Colliers: Colliers brokers sale of student housing community in Stephenville, Texas