Franklin Street national Student Housing team brokers institutional level sale of The Crossing at Sante Fe in Gainesville
GAINESVILLE, Florida —
Franklin Street, a national commercial real estate services firm, has brokered the sale of The Crossing at Santa Fe, a 337-unit, 1,178-bed student housing community in Gainesville, Florida. The transaction was an institutional level sale. Franklin Street’s national Student Housing team represented the seller, The Collier Companies, in the sale to Ivy Capital.
“There is meaningful investor demand for student housing beyond the Power Four, particularly at institutions with strong enrollment fundamentals and ties to larger university ecosystems,” Patrick Mullowney, managing director of student housing, said. “Investor interest in the community was high as Gainesville is one of the best in the Sun Belt with upside for long term return on investment from this property.”
The 454,000 square foot student housing community is located at 3205 NW 83 St. The buyer plans to continue ongoing renovations to the 337 units while enhancing the community’s offerings and operating the property as student housing serving Santa Fe College and the University of Florida. On-site amenities include sports facilities with tennis, volleyball, and basketball courts, and a fitness center. Residents also have access to a swimming pool with a poolside kitchen, a coffee station, a productivity suite, and a co-working lounge.
“Capital remains highly selective in today’s student housing market, making successful transactions increasingly dependent on an asset’s ability to offer a clear path to long-term performance,” Joel Dumes, executive managing director of student housing, said. “This sale goes against the broader trend of investment activity concentrating around larger, more established university markets and demonstrates that quality opportunities can still attract capital when the fundamentals support the investment thesis.”
This is the third transaction that Mullowney and Dumes have led for the Collier Companies having previously brokered the sale of Campus Lodge in Norman, Oklahoma and Lexington Crossing, also in Gainesville.
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