ORLANDO, Fla. –– Berkadia recently announced the sale of The Quad, a student housing property in Orlando. Senior Managing Director of Berkadia’s Mortgage Banking Group Marc Sumner in the Orlando office, Managing Director Cole Whitaker in the Orlando office, Senior Director Jason Stanton in the Tampa office, Associate Director Greg Rainey in the Jacksonville office, and Managing Director of Berkadia’s Student Housing Group Kevin Larimer in the Detroit office completed the $17.5 million sale.
The seller was Taurus Investment Holdings, LLC, headquartered in Boston, and the buyer was Atlanta-based Chance Partners LLC.
“The Orlando market saw declines in vacancy rates during the second quarter of this year, reinforcing the fundamental strength of this submarket,” Whitaker said. “The student housing sector has garnered a lot of interest this year, and The Quad was an attractive investment opportunity in the UCF submarket.”
The Quad, a 384-bed student housing property located at 10200 University Blvd., offers four-bedroom townhome-style floor plans that include alarm systems, vaulted ceilings and fully equipped kitchens. Residents can enjoy access to a 24-hour fitness center, resort-style pool with cabanas, sand volleyball court and a clubhouse with a coffee bar.
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
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To learn more about Berkadia, please visit www.berkadia.com.