96-Unit Community Near Florida A&M Trades

by Katie Sloan

University Courtyard was purchased by Strategic Capital Partners and Global Asset Alternatives.

Tallahassee, Fla. — A joint venture between a fund sponsored by Chicago-based Strategic Capital Partners and Atlanta-based Global Asset Alternatives has acquired a student housing community in Tallahassee. University Courtyard contains 384 beds in 96 units and is located near the campus of Florida A&M University. It was fully occupied at the time of closing. The partnership contributed $2.1 million in equity to the undisclosed purchase price and secured a 10-year mortgage through Freddie Mac that was originated by Walker & Dunlop. The purchase is the first made on behalf of Strategic Capital Partners’ Real Estate Opportunity Fund I.

— Coleman Wood

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