Tallahassee, Fla. — One property sits on 10 acres.
Tallahassee, Fla. — TREO Partners of Miami has acquired three student-housing properties in Tallahassee, Fla., within walking distance of Florida State University.
The Plaza Apartments, Chartre Oaks/Chartre Ridge and Chapel Terrace total 563 units and 812 beds.
“Each community, particularly The Plaza Apartments, which sits on nearly 10 acres of land a block from FSU’s main campus, affords us the opportunity to offer our investors very attractive current cash yields with the potential for significant long-term capital appreciation through improved operations, renovations and/or redevelopment,” says Carlos A. Ortega, co-founder and managing partner TREO Partners.
TREO targets core student-related assets throughout the Southeast, with a focus in Florida.
– Lynn Peisner