CBRE Arranges Sale of 433-Bed Community Near University of Tennessee

by Katie Sloan

Knoxville, Tenn. — CBRE has arranged the sale of 303 Flats, a 433-bed student housing community located near the University of Tennessee campus in Knoxville. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Brett Carr of CBRE represented the seller, Realco Capital Partners, in the disposition of the property to Horizon Realty Advisors.

Located at 303 W. Blount Ave., the community was built in 2018 and offers fully furnished units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, fitness center, yoga and stretching studio, individual and group study lounges, a game lounge, bicycle storage and a dog park and pet wash station.

“The University of Tennessee’s full-time undergraduate population grew more than 23 percent over the last five years,” says Vonderfecht. “The market is already 100 percent pre-leased for the 2023-2024 academic year. 303 Flats was one of the fastest leased properties in the market, surpassing 95 percent pre-leased by mid-October 2022.”

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