Tanyard Creek — Sale in Ruston, LA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Ruston, LA 71270

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Description

Marcus & Millichap is pleased to present Tanyard Creek, a 787-bed, 262-residence cottage-style student housing community serving Louisiana Tech University in Ruston, Louisiana, offered unpriced and free and clear of existing debt. Delivered across seven phases between 2019 and 2025 and now fully complete, Tanyard Creek is the largest identified purpose-built student housing community serving Louisiana Tech, with 787 beds against 588 at The Preserve at Tech and 432 at The Heights Ruston, and the only identified predominantly detached cottage-style community in the Ruston competitive set. The community comprises 219 detached residences and 43 attached duplex, triplex and townhome residences, approximately 84% detached, with a private bath for nearly every bedroom. The format is the differentiator. Where conventional student housing sells a bedroom inside a corridor building, Tanyard Creek sells a house: a private front entry, front and rear porches, a full kitchen, in-residence laundry and rear off-street parking at each residence, across one- and two-story plans of roughly 1,351 to 1,611 square feet. Residents share a timber-framed Student Center with lounge and study seating, a coffee bar, a grab-and-go market, a covered outdoor lounge and event space that ownership programs through the academic year, alongside a gated entry, a dog park, a dog washing station and a sidewalk network throughout. That product has performed: approximately 97.2% of revenue-designated beds were under executed or billed leases as of the current rent roll, and ownership's forward waiting list already carries 293 registrations for Fall 2027, with further registrations recorded for Fall 2028 and Fall 2029. The operating structure is unusually clean for the asset class. Electricity, water, sewer and trash are billed directly to residents under the standard lease, so the resident-paid utility structure that a conventional RUBS program is designed to create is already in place. Ownership attribu

Market Context

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