Tallahassee, Fla. — One property sits on 10 acres.
TREO Partners expects this property, The Plaza Apartments, to perform well in its Tallahassee portfolio. It sits on 10 acres near FSU’s main campus.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