PHOENIX, AZ – May 14, 2024 – TSB Capital Advisors, the national leader in student housing and multifamily real estate advisory services, successfully arranged financing on behalf of L3 Campus for acquisition of Nine at Central, a 201-unit, 764-bed luxury student housing property located near the University of Central Florida in Orlando. QuadReal Property Group provided the financing.
“Nine at Central established itself right away as the crown jewel in the Orlando market, thanks in part to its outstanding location and an incredible amenities package,” said Timothy S. Bradley of TSB Capital Advisors. “It was a pleasure, as always, to work with our friends at L3 and QuadReal to get this deal done.”
Delivered in 2023, Nine at Central offers one-, two-, four-, five- and six-bedroom apartments with full bed-to-bath parity. Each unit features a 55-inch smart TV in the living room, a private balcony, wood-style flooring throughout, energy-efficient stainless-steel appliances, stone countertops, and Bluetooth integrated washer and dryer. The best-in-class community amenities include a zero-entry pool, hammock garden, outdoor barbecues and wet bar, poolside cabanas, game-day jumbotron, putting green, fully equipped fitness center, yoga studio with Echelon smart mirrors, study pods on every floor, and a full arcade room.
“We are very excited to add The Nine at Central to the L3 Campus Portfolio,” said Ben Rosengart, Director of Acquisitions at L3 Campus. “With robust enrollment growth, UCF is one of the highest quality student housing markets in the country and The Nine is a trophy asset we are proud to own. We appreciate TSB’s hard work on this deal and we’re excited to start a great relationship with QuadReal.”
L3 Campus has expertise owning and managing a variety of student housing communities adjacent to campus, including luxury apartments and scattered site portfolios. L3 creates value through capital improvements, fresh rebranding, improved technology, recruiting and developing a higher quality site team, and implementing additional revenue streams.
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia with assets under management of $73.8 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets across Canada, the U.S., UK, Europe and Asia Pacific. QuadReal invests in these markets directly and through programmatic partnerships and operating companies in which it holds an ownership interest.
TSB Capital Advisors is the national leader in student housing and multifamily real estate advisory services, and has offices in Phoenix, Arizona (headquarters), and Paoli, Pennsylvania. Since its creation in 2009, TSB Capital Advisors has helped close over 450 deals and more than $60 billion in student housing and multifamily transactions.
