Tampa, Fla. — Rittenhouse Realty Advisors (RRA), a member of GREA, has arranged the $38.8 million sale of ULake, a 401-bed student housing community located near the University of South Florida, Tampa.
RRA represented the seller, FPA Multifamily, in the disposition of the property to Core Spaces. The community recently underwent renovations and offers a mix of furnished and unfurnished units alongside shared amenities including three resort-style swimming pools, a dog park, fitness center and sand volleyball courts.
“The University of South Florida is one the best-performing student housing markets in the country, with strong year-over-year rent growth and high pre-leasing velocity,” says Douglas Sitt, RRA/GREA’s student housing specialist. “Large, Tier One universities in growth states are becoming the most competitive student housing markets in the U.S. to invest in.”