Florida & Gulf Coast + Central Florida + Student Housing | April 28, 2022

Core Spaces has purchased the ULake student housing community near USF in Tampa for $38.8 million.

Rittenhouse Kicks off FL Operations with $39M Sale of Student Housing by USF

Rittenhouse Realty Advisors, a member of GREA, has sold ULake near the University of South Florida in Tampa for $38.8 million. The sale of the 300 unit/401 bed student housing property marks the launch of RRA/GREA’s operations in FL.

The property was marketed on behalf of FPA Multifamily and sold to Core Spaces.

“USF is one the best performing student housing markets in the country, with strong year over year rent growth and high pre-leasing velocity,” said Douglas Sitt, RRA/GREA’s student housing specialist. “Large tier-1 universities in growth states are becoming the most competitive student housing investment markets in the US.”

ULake is approximately one mile from USF’s Tampa campus, on a bus route that takes students to and from campus. The property recently underwent renovations and offers students furnished or unfurnished units, on-site parking, three resort-style pools, pet friendly units with an on-site dog park, a fitness center and volleyball courts.

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Rittenhouse Realty Advisors' Sitt

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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