Tampa, Fla. — Franklin Street has launched a new division of its Institutional Services Group focused on student housing.
The group will be led by an eight-person, Cincinnati-based student housing investment sales team that previously worked with Marcus & Millichap. This team acquisition is the largest by the firm since Franklin Street’s inception in 2006.
The group will focus on institutional transactions valued at over $25 million, and bring over six decades of combined commercial transaction experience to the Tampa, Florida-based firm.
“This is an important day for Franklin Street and we are fortunate to add this exceptional team to usher us into the student housing market,” says Gregory Matus, senior vice president of Franklin Street’s Investment Services Group.
“We’re known throughout the industry for tapping the best of the best to lead our divisions, as has been the case with our self-storage and multifamily teams,” he continues. “This group’s impressive track record within the student housing sector, combined with our robust platform, will build trust among large, institutional and high-wealth investors, owners and operators.”
Franklin Street expects to close over $1 billion worth of student housing transactions over the next several years. Within the past month, the team joining the firm completed two student housing transactions valued at over $125 million. Dispositions included Lexington Crossing near the University of Florida in Gainesville, and Garden Village near the University of California, Berkeley campus.