Horizon Realty Advisors buys Tampa student housing for $49m

by   CIJ USA
2017-08-18   16:36
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Horizon Realty Advisors has purchased a student housing asset in Tampa called Venue at North Campus for $46.6 million. Located at 13702 N. 42nd St., adjacent to the University of South Florida, the LEED-certified development last traded in 2012, when Dinnerstein Cos., bought the property for $49 million, from Deutsche Asset & Wealth Management. CBRE Capital Markets’ Debt & Structured Finance team arranged a $35 million acquisition loan on behalf of the buyer. Common area amenities include Two expansive pool plazas and private study rooms. “We continue to see very attractive financing available for quality student housing properties nationwide,” said Benjamin Roelke, CBRE. “In this case, those financing terms were further exceeded with a best-in-class, experienced sponsor acquiring a top-of-the-market property.”