West Shore Expands Multifamily Portfolio with 261-Unit Texas AcquisitionSeptember 06, 2019
BOSTON–West Shore LLC announced the acquisition of Broadstone Traditions, a 261-unit residential community located in Bryan, Texas. According to the release, the acquisition marks a milestone for the Boston-based firm which, in just its third year, has already built an impressive portfolio of 6,669 units in 24 communities, and assets under management of more than $1 billion.
This is West Shore’s third major acquisition in the Bryan-College Station metropolitan area, an increasingly popular hub for young professionals, academics and recent graduates, given its close proximity to Texas A&M University. One of the region’s premier luxury communities, this asset is part of the esteemed Traditions Community, a 1,000-acre oasis of “unparalleled sophistication” located among the beautiful woodlands of central Texas, and adjacent to Lake Walk town center and just steps from the world-renowned Traditions Club.
Broadstone Traditions will be integrated into the adjacent 8085 at Traditions community; a 396-unit property in Bryan owned and operated by West Shore since 2018. The newly combined 657-unit property is West Shore’s largest multifamily asset. West Shore also owns and operates SoCo at Tower Point, a 318-unit community in College Station.
“The new 8085 at Traditions is truly a unique Class A property and is well located in the thriving Bryan-College Station area,” said West Shore Chairman Steven P. Rosenthal. “This transaction is emblematic of our success and growth over the last three years as we continue to identify and acquire high quality, off-market properties like this in high-growth areas.”
“We are excited about this acquisition as well as the tremendous prospects for future growth in the Bryan-College Station market ... we now own and operate 975 units there and the economies of scale will bring great operating efficiencies and a quality-resident experience.”