The Real Deal Miami

Tampa student housing complex commands $26M

Vesper Holdings paid about $145,000 per unit for The Social at South Florida, an apartment complex near the University of South Florida
December 30, 2017 01:00PM

The Social at South Florida

A 180-unit apartment complex in Tampa that caters to students at the University of South Florida sold for $26 million.

Vesper Holdings paid about $145,000 per unit for the complex, called The Social at South Florida, and plans to spend $1 million on property upgrades.

The apartment complex was built in 2000 at 2919 Network Place in Tampa, near a Walmart Supercenter, Lettuce Lake Park and the USF Contemporary Art Museum.

The Social at South Florida is a complex of 12 buildings, each three stories tall, with two-bedroom and four-bedroom apartments ranging in size from 930 square feet to 1,494 square feet.

The apartments feature private bedrooms and bathrooms, built-in desks and bookshelves, a private balcony or patio, and walk-in closets, plus flat screen televisions, internet access and full-sized washers and dryers.

Common-area amenities include a car wash, clubhouse, basketball court, outdoor lounge and patio, swimming pool, study room and tanning suite.

The Social at South Florida was Vesper’s second acquisition of a Tampa apartment property catering to students at the University of South Florida.

In 2014, Vesper acquired The Ivy at 3424 Jefferson Commons Drive in Tampa near USF. [Multi-Housing News] — Mike Seemuth