{"id":6034,"date":"2022-05-10T00:25:07","date_gmt":"2022-05-10T05:25:07","guid":{"rendered":"https:\/\/1reason.com\/re\/rra-grea-launches-florida-operations-with-sale-of-300-unit-401-bed-student-property-at-usf-tampa-for-38750000\/6034\/"},"modified":"2022-05-10T19:25:07","modified_gmt":"2022-05-11T00:25:07","slug":"rra-grea-launches-florida-operations-with-sale-of-300-unit-401-bed-student-property-at-usf-tampa-for-38750000","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/rra-grea-launches-florida-operations-with-sale-of-300-unit-401-bed-student-property-at-usf-tampa-for-38750000\/6034\/","title":{"rendered":"RRA\/ GREA Launches Florida Operations With Sale of 300 Unit\/401 Bed Student Property at USF Tampa For $38,750,000"},"content":{"rendered":"
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PHILADELPHIA, April 20, 2022 (GLOBE NEWSWIRE) — Rittenhouse Realty Advisors, a member of GREA, is pleased to announce the sale of ULake, a 300 unit\/401 bed student housing property serving students at University of South Florida, Tampa. The sale marks the launch of RRA\/GREA\u2019s operations in Florida.<\/p>\n

The property was marketed on behalf of FPA Multifamily, a known giant in the multifamily industry out of San Francisco, and sold to Core Spaces, a large owner\/operator based out of Austin, TX and Chicago, IL. Located at 14200 Bruce B Downs Boulevard, ULake is approximately one mile from USF\u2019s Tampa campus, on a bus route that takes students to and from campus. The property recently underwent significant renovations and offers students furnished or unfurnished units, on-site parking, three resort-style pools, pet friendly units with an on-site dog park, a fitness center, and sand volleyball courts.<\/p>\n

Ken Wellar, managing partner at RRA\/GREA, stated: \u201cWe are pleased to announce this successful transaction our team completed for FPA, one the largest buyers and sellers of multifamily properties in the country.\u201d<\/p>\n

Douglas Sitt, RRA\/GREA\u2019s student housing specialist, added: “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. Large tier-1 universities in growth states are becoming the most competitive student housing markets in the U.S. to invest in.”<\/p>\n

RRA\/GREA recently opened an office in the Brickell neighborhood of Miami, following the growth of the South Florida market during the Covid-19 pandemic. Wellar noted: \u201cWe are seeing more capital from all parts of the country chase value-add deals in Florida.\u201d The firm hired Jesus \u201cMando\u201d de Armas as a full-time sales associate and Annamaria Leib to oversee operations in Florida as well as the firm’s student housing efforts.<\/p>\n

Wellar stated: \u201cRRA\/GREA is excited to join South Florida\u2019s commercial real estate community. We know the market well and with our national network of buyers we are well-positioned to replicate our successful model in Miami.\u201d<\/p>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/48b20f9d-451a-4424-9983-77c8431f2a5f<\/a><\/p>\n

For more information on current rates or to view our available listings visit www.RittenhouseRealty.com<\/u><\/a> and www.GREA.com<\/u><\/a>.<\/p>\n

Based in Philadelphia, Pennsylvania, Rittenhouse Realty Advisors, a member of GREA, is a real estate advisory firm with an extensive focus in the brokerage of multi-family communities throughout the United States. Formed in February 2013 by a group of advisors with more than 30 years of commercial investment sales experience, our focus is on multi-family, mixed-use, and development properties with significant residential components. RRA is a member of <\/em>GREA<\/u><\/em><\/a> with brokerage offices throughout the United States.<\/em><\/p>\n

Press Contact: Corey Lonberger and Ken Wellar
Managing Partners
215-454-2852 <\/p>\n

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ULake Tampa Florida RRA\/GREA<\/p>\n

\"ULake ULake Student Housing Sold By RRA\/GREA <\/div>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/6034"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=6034"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/6034\/revisions"}],"predecessor-version":[{"id":6063,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/6034\/revisions\/6063"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=6034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=6034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=6034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}