APARTMENT Amenities
Three pools
Three fitness areas
15+ study rooms
Yoga room
Dog park
Garage parking
Pool table
Shuffleboard
Computers with free printing
Leap guarantor option
Community Amenities
PROPERTY INFORMATION
LOCATION
Visit Doc Center
3509 Elgin Street | Houston, TX 77004
2017 &
2020
BUILT
850
BEDS
344
UNITS
Opportunity
Property Info
Location
Photo Gallery
Contact
Doc Center
Privacy
Terms of Use
PHOTO GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Brandon Buell
Senior Managing Director – Student Housing
346.444.8982 | brandon.buell@berkadia.com
Erin Wodehouse
Financial Analyst – Student Housing
248.341.3333 | erin.wodehouse@berkadia.com
Kevin Larimer
Senior Managing Director – Student Housing
248.341.3305 | kevin.larimer@berkadia.com
Jennifer Ayers
Transaction Manager – Student Housing
689.244.5554 | jennifer.ayers@berkadia.com
Genna Jago
Marketing Project Manager – Student Housing
248.341.3336 | genna.jago@berkadia.com
BERKADIA STUDENT HOUSING TEAM
CONTACT Info
Steve Skok
Managing Director
312.845.5164 | steve.skok@berkadia.com
Mortgage Bankers
Aaron Moll
Director
248.208.0529 | aaron.moll@berkadia.com
Peter Benedetto
Senior Managing Director
248.208.3462 | peter.benedetto@berkadia.com
28411 Northwestern Highway, STE 300
Southfield, MI 48034
Phone: 248.646.7701
Detroit Office
2229 San Felipe Street, Ste 1600
Houston, TX 77019
Phone: 713.974.1300
Houston Office
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
Adjacent to Campus: The property is the most attractive student housing location in the market.
Minutes from Vibrant Downtown Houston: The property is within a 5-minute drive to the popular Eado District and East End.
Best-in-Class Amenities: The property boasts premium amenities that appeal to students, including multiple resort-style pools, collaborative study areas, and convenient retail.
Limited Market Vacancy and Significant Demand: The Icon & Lofts maintain consistently high occupancy rates at 99% to 100%, exceeding even the impressive 97.6% market occupancy for Houston.
Demonstrated Strong Enrollment Growth: The University of Houston has averaged 1.7% enrollment growth year over year for the past 10 years.
Power Five Conference Sports: The University of Houston is joining the Big 12 Conference in 2023, creating a competitive Power Five sports center within the 4th largest city in the country.
Big 12 Conference Revenue: Projected to increase by more than $50M annually, generating further opportunities for enrollment growth and campus development.
Impactful Campus Investment: The University of Houston invested $155M into state-of-the-art facilities.
THE OPPORTUNITY
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Refrigerator with freezer and icemaker
Stove/Oven/Microwave
Disposal
Dishwasher
Washer/Dryer
Sofa
Side table
Side chair
Coffee table (Select Units)
Mattress and bedframe
Desk and chair
Under-the-bed storage
Private bedrooms
Private bathrooms
TV included with every unit
Internet included
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In fall 2022, 46,700 students enrolled at the University of Houston. Of those who were enrolled at the start of the 2022 academic year, 37,282 were undergraduate students and 9,418 students were seeking graduate and professional degrees.
For the fall 2022 semester, 29,935 first-year, first-time students applied for the University of Houston, of which 19,916 individuals were admitted. At the start of the semester, 5,591 first-year, first-time students enrolled, a 2.2% increase from one year prior.
The appeal of the University of Houston extended beyond first-year, first-time students. For the fall 2022 semester, 4,387 international students were enrolled, a 21.2% increase from the year prior.
The University of Houston does not require first-year students to live on campus. On-campus housing can only accommodate 8,397 students leaving 82% (38,303) of students in need of off-campus housing.
University Overview
ICON AND LOFTS
Location
Property Info
Opportunity
DOC CENTER
Terms of Use
Privacy
Photo Gallery
Contact
Chris curry
Senior Managing Director
713.469.4513 | chris.curry@berkadia.com
TODD MARIX
Senior Managing Director
713.826.5979 | todd.marix@berkadia.com
Tucker Knight
Senior Managing Director
713.469.4515 | tucker.knight@berkadia.com
Mark Crosswell
Director
713.469-4521 | mark.crosswell@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Brandon Buell
Senior Managing Director – Student Housing
346.444.8982 | brandon.buell@berkadia.com
Erin Wodehouse
Financial Analyst – Student Housing
248.341.3333 | erin.wodehouse@berkadia.com
Kevin Larimer
Senior Managing Director – Student Housing
248.341.3305 | kevin.larimer@berkadia.com
Jennifer Ayers
Senior Transaction Manager – Student Housing
689.244.5554 | jennifer.ayers@berkadia.com
Genna Jago
Marketing Project Manager – Student Housing
248.341.3336 | genna.jago@berkadia.com
BERKADIA STUDENT HOUSING TEAM
CONTACT Info
28411 Northwestern Highway, STE 300
Southfield, MI 48034
Phone: 248.646.7701
Detroit Office
2229 San Felipe Street, Ste 1600
Houston, TX 77019
Phone: 713.974.1300
Houston Office
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
Chris curry
Senior Managing Director
713.469.4513 | chris.curry@berkadia.com
Steve Skok
Managing Director
312.845.5164 | steve.skok@berkadia.com
Mortgage Bankers
Aaron Moll
Managing Director
248.208.0529 | aaron.moll@berkadia.com
Peter Benedetto
Senior Managing Director
248.208.3462 | peter.benedetto@berkadia.com
Tucker Knight
Senior Managing Director
713.469.4515 | tucker.knight@berkadia.com
Mark Crosswell
Director
713.469-4521 | mark.crosswell@berkadia.com
PHOTO GALLERY
LOCATION
APARTMENT Amenities
Three Pools
Two Clubhouses
Movie Theater
Pool Table
Shuffleboard
15+ Study Rooms
Computers with Free Printing
Three Fitness Areas
Yoga Room
Dog Park
Garage Parking
Leap Guarantor Option
Retail Shops
• Insomnia Cookes
• Thirstea Boba Tea
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Fully Furnished Units
Refrigerator with freezer and icemaker
Stove/Oven/Microwave
Disposal
Dishwasher
Washer/Dryer
Sofa
Side table
Side chair
Coffee table (Select Units)
Mattress and bedframe
Desk and chair
Under-the-bed storage
Private bedrooms
Private bathrooms
TV included with every unit
Internet included
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Community Amenities
PROPERTY INFORMATION
THE OPPORTUNITY
Adjacent to Campus: Core Plus product within steps of the University of Houston
Minutes from Vibrant Downtown Houston: The property is within a 5-minute drive to the popular Eado District and East End.
Best-in-Class Amenities: The property boasts premium amenities that appeal to students, including multiple resort-style pools, collaborative study areas, and convenient retail.
Limited Market Vacancy and Significant Demand: With 81% of the university’s 46,676 students in need of off-campus housing, demand for purpose-built student housing remains at a premium.
Demonstrated Strong Enrollment Growth: The University of Houston has averaged 1.7% enrollment growth year over year for the past 10 years.
Power Four Conference Sports: The University of Houston joined the Big 12 Conference in 2023, creating a competitive Power Four sports center within the 4th largest city in the country
Big 12 Conference Revenue: Projected to increase by more than $50M annually, generating further opportunities for enrollment growth and campus development.
Impactful Campus Investment: The University of Houston invested $155M into state-of-the-art facilities.
At the start of the 2023 academic year, the University of Houston enrolled 46,676 students, including 37,946 undergraduate and 8,730 graduate and professional students. UH received a total of 30,339 applications from first-time-in-college (FTIC) students. Of the 21,121 FTIC students that were admitted, 5,682 enrolled in fall 2023, equating to a 1.6% increase from one year prior. The university's appeal extended beyond first-year, first-time students. International enrollment grew 7.5% annually to 4,718 students, while transfer student enrollment grew 0.1% to 4,534.
Looking ahead, the University of Houston's rising reputation as a destination for toptier students seeking a world-class education is leading to rapid enrollment growth. Preliminary data released by the university shows a record 6,200 first-year, firsttime students enrolled for the fall 2024 semester, a 9.1% increase from fall 2023. The class of 2028 is roughly 10% larger than any previous freshman cohort at UH.
University Overview
Visit Doc Center
3509 Elgin Street | Houston, TX 77004
ICON AND LOFTS
2021
BUILT
850
BEDS
344
UNITS
Opportunity
Property Info
Location
Photo Gallery
Contact
Doc Center
Privacy
Terms of Use
Joey Rippel
Managing Director
601.919.5155 | joey.rippel@berkadia.com
Chris Young
Managing Director
972.743.5742 | chris.young@berkadia.com
Trevor Friday
Associate Director
248.224.4660 | trevor.friday@berkadia.com
