facebook
Traded Co logo
Submit

Core Spaces Acquires Student Housing In Tampa For $38.75M

Property Image
SOLD
$38,750,000
Douglas I. Sitt
Kenneth (Ken) Wellar

Florida

See Similar Deals
8,737 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Core Spaces Acquires Student Housing In Tampa For $38.75M

14200 Bruce B Downs Boulevard, Tampa, Florida 33613, United States

See Similar Deals
8,737 SF
Sold
Douglas I. Sitt
Kenneth (Ken) Wellar
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Price Per Square Foot:$4435
Total Square Footage:8737 SF
Transaction Type:Sale

Core Spaces has acquired a student housing property located at 14200 Bruce B Downs Blvd in Tampa. The transaction, which took place on April 14, 2022, was facilitated by Rittenhouse Realty Advisors represented by Ken Wellar and Douglas Sitt. The property was sold by FPA Multifamily for a total price of $38,750,000.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: $38,750,000
  • Address: 14200 Bruce B Downs Blvd, Tampa
  • Market: Tampa

This acquisition marks an important addition to Core Spaces' portfolio of student housing properties. With the purchase of this property, Core Spaces further strengthens its presence in the Tampa market. The deal was successfully negotiated by Ken Wellar and Douglas Sitt of Rittenhouse Realty Advisors, showcasing their expertise in the student housing sector.

Players

Kenneth (Ken) Wellar
Global Real Estate Advisors (GREA)
Kenneth Wellar
59 deals$1.3B volume
BROKER
Douglas I. Sitt
Rittenhouse Realty Advisors
Douglas I. Sitt
10 deals$419.1M volume
BROKER
CS
Core Spaces
BUYER
FPA Multifamily
FPA Multifamily
SELLER

Details

SOLD
IMAGE: Ken Wellar & Douglas Sitt DATE: 04/14/2022 ADDRESS: 14200 Bruce B Downs Blvd MARKET: Tampa ASSET TYPE: Student Housing BUYER: Core Spaces SELLER: FPA Multifamily BROKERS: Ken Wellar (@Ken_Wellar_CRE) & Douglas Sitt (@Grea_cre) - Rittenhouse Realty Advisors (@Rittenhouse_Realty_Advisors) SALE PRICE: $38,750,000

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,066,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$137,670.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$183,694.77
Annual Debt Service$2,204,337.23