Tallahassee, Fla. – Peak Campus Management has been selected to manage a portfolio of five properties totaling 3,155 beds that serve the students of Florida State University (FSU) in Tallahassee.
The properties, Osceola Ridge, Osceola Suites, Park at Forest Ridge, The Park at Midtown, and University Heights, are owned by Collegium, a joint venture among Calidus, Pebb Capital and Pragma Investments. The JV bought the portfolio for $43.5 million in August. Collegium is planning capital improvements, including full rebranding, clubhouse renovations and unit improvements at all five assets, which will begin in coming weeks and months.
“This particular portfolio further expands our management platform in one of the largest markets in the country, and we are confident that our partners’ planned improvements to the products, coupled with Peak Campus’ management strategy, will do well in creating a world-class housing opportunity for students at Florida State University,” said Bob Clark, president at Peak Campus Management. The properties offer a mix of floor plans that range from one- to four-bedrooms. Peak Campus is currently underway in leasing all of the properties for fall of 2015.