Student housing near FSU sells for $22.7 million

Miami /
Jul.July 30, 2016 01:00 PM

CollegePlace Partners, a real estate investment firm, bought a 311-bed student housing complex next to Florida State University in Tallahassee in a $22.7 million off-market transaction.

The complex of townhouses and flat-style buildings, called The District, was completed in 2012 by the seller, Chance Partners of Atlanta.

The District is located at the southeast border of the 483-acre FSU campus in a neighborhood known as College Town, home to the university’s fraternities and sororities.

This is the fourth acquisition by Texas-based CollegePlace Partners since its 2015 startup. Including The District, CollegePlace Partners now owns more than 700 student-housing beds and 60,000 square feet of retail stores serving students near the campuses of Florida State, Illinois State University, the University of South Carolina and Clemson University.

“Florida State has the capacity to house only 20 percent of its undergraduate enrollment of more than 41,000 students,” CollegePlace Partners principal Beau Jaussi said in a written statement.

Jaussi also said CollegePlace Partners plans to acquire three additional properties by year-end for about $100 million.

Andrew Kirsh and Serineh Baghdasarian of Los Angeles-based law firm Sklar Kirsh LLP represented CollegePlace Partners in the acquisition.

The District was marketed by Chris Epp and Chris Bancroft, co-founders of Austin-based Four Point Investments, a full-service commercial real estate brokerage firm focuses exclusively on student housing and conventional multifamily investment sales.


Related Articles

arrow_forward_ios
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Lennar Executive Chairman Stuart Miller (iStock)
“The home used to be just shelter. Now it is the hub of our entire lives”: Lennar reports strong Q4, full-year results
“The home used to be just shelter. Now it is the hub of our entire lives”: Lennar reports strong Q4, full-year results
Rent-to-own startup Divvy Homes expands to South Florida
Rent-to-own startup Divvy Homes expands to South Florida
Rent-to-own startup Divvy Homes expands to South Florida
Ben Schachter, Sean Black and Mike Pappas (Signature, Getty, Keyes)
Knock expands home lending program into South Florida 
Knock expands home lending program into South Florida 
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley
Baptist, Belmont gain approval for luxury senior living in Coral Gables
Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)
Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)
Sunrise affordable senior housing facility sells for $30M
Sunrise affordable senior housing facility sells for $30M
Mark Zilbert
Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...