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UCF Student Housing Sells for $83M
L3 Campus has acquired a University of Central Florida (UCF) student housing community for $83 million. The project, called Nine at Central, is a 201-unit, 764-bed development near the UCF campus in Orlando. UCF has nearly 70,000 students. Nine at Central is at 12155 Science Drive, two miles from campus.
Commercial Edge reports that TSB Capital Advisors arranged a $83 million acquisition loan originated by QuadReal Property Group on behalf of L3 Campus. The note has a 5-year, fixed-rate term.
The Class A community encompasses two five-story buildings with one-, two-, four-, five- and six-bedroom floorplans, ranging from 570 to 1,925 square feet. The fully furnished apartments feature washers, dryers and private balconies or patios.
Common-area amenities at the 3-acre property include a swimming pool with cabanas, hammock garden, outdoor barbecues and wet bar, a jumbotron and a fitness center with yoga studio.
- ◦Sale/Acquisition
