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Asset Plus Companies Begins Construction on Student Housing Development in Lubbock, Texas

May 13, 2010

HOUSTON, May 13 /PRNewswire/ -- Asset Plus Companies has announced the ground breaking for 25Twenty, a student housing development in Lubbock, Texas.  Managed by Asset Campus Housing, 25Twenty is located on a 3.6-acre site adjacent to Jones AT&T Stadium, home of Texas Tech Red Raider football. The upscale 562-bed student housing community will feature the major components of a successful pedestrian-orientated development. "This project will be much like The Lofts at Wolf Pen Creek development, which we completed last fall in College Station, Texas," according to Company President Michael S. McGrath. "The Lofts at Wolf Pen Creek was 97% leased when it opened last year and is leading the market this year in pre-leasing as well," added McGrath.

25Twenty will be a four-story stucco and brick structure which will offer a mix of 249 units arranged around two beautifully landscaped courtyards. The main courtyard will feature a sunning ledge, a grand resort-style pool with water feature, outdoor BBQ kitchen and hammock area.  Not to be outdone by the larger courtyard, the second courtyard will hold its own and highlight a pro-style sand volleyball court, competition horseshoe pit and an area to kickback and relax around an outdoor fire pit.

A 9,600 square-foot clubhouse will offer a game room packed with amenities and featuring a golf simulator. Other amenities will include a theatre with stadium seating, a fully equipped Internet Cafe, business center along with private breakout study rooms, tanning room and a premier exercise facility.

One-bedroom/one-bath, two-bedroom/two-bath, and four-bedroom/four-bath units will range from 571 square feet to 1,704 square feet. Floor plans feature an open concept design, reinforced by 10-foot ceilings on the ground floor.  All units will be fully furnished and will include washer and dryers, high-speed internet and flat panel HD TVs with DVR service. Modern kitchens will include stainless appliances, pendant lights, granite countertops and islands with seating.

25Twenty is only part of an overall redevelopment of the northwest corner of Marsha Sharp Freeway and University Avenue (formerly the Town & Country shopping center). Tao Development Group, LLC, a Texas Tech Alumni owned company, is building a new eleven story mixed-use parking garage containing both retail and restaurant space. Residents of 25Twenty will park in the garage and utilize a sky bridge connecting both developments.

Asset Campus Housing, Inc. ("ACH") is a sister company of Houston based Asset Plus Companies, a third party property management firm specializing in real estate services for investors, developers, and owners. Asset Campus Housing manages a student housing portfolio of 40+ properties, exceeding 25,000 beds located throughout the United States.

http://www.assetcampushousing.com

SOURCE Asset Campus Housing

For further information: Cheryl Perry, +1-832-813-0085, for Asset Plus Companies


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