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Newmark Arranges Sale of FSU Off-Campus Housing
Newmark has arranged the sale of Seminole Grand, a 487-unit, 1,557-bed student community near Florida State University.
Newmark Vice Chairman and head of the company’s Student Housing group Ryan Lang, Managing Director Jack Brett and Director Ben Harkrider, in cooperation with Vice Chairman Avery Klann, represented the seller, The Collier Companies, in the transaction to FPA Multifamily.
“The focus on affordability, rent price point differentiation and scale in one of the strongest Power 5 markets in the country makes for an excellent execution by the FPA team,” said Lang. “Our team was proud to represent TCC in what will be one of the largest single-asset sales, by bed count, of the year.”
The garden-style student housing community sits on 44.71 acres at 1505 W Tharpe Street with two-, three- and four-bedroom and bathroom floor plans. Amenities include resort-style pool, fitness center. soundproof study rooms, and multimedia gaming center.
- ◦Sale/Acquisition