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11326 North 46th Street

Wes Rogers & James Whitley Of Landmark Properties Acquire The Retreat At Tampa For $44.8M
SOLDStudent Housing

Wes Rogers & James Whitley Of Landmark Properties Acquire The Retreat At Tampa For $44.8M

11326 North 46th Street

$44,800,000

Building Size

Asset Type

Student Housing

Closing

Nov 25, 2024

AI

The Retreat at Tampa, located at 11326 North 46th Street in the Tampa market, is a 416-bed student housing community near the University of South Florida. The asset consists of 106 units featuring two- to four-bedroom layouts. The sale transaction was completed for $44,800,000, resulting in a price per unit of $422,642. The property offers amenities including a resort-style pool, fitness center, study rooms, and a dog park.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $44,800,000
  • Units: 106
  • Beds: 416
  • Price Per Unit: $422,642
  • Buyer: Wes Rogers & James Whitley
  • Buyer’s Representative: Landmark Properties
  • Sale Date: 11/25/2024
  • Address: 11326 North 46th Street, Tampa

The transaction involved Wes Rogers and James Whitley as the buyers, both representing Landmark Properties. Their acquisition of the Retreat at Tampa adds to their portfolio of student housing assets, expanding their presence in the Tampa area market.

Players

Tampa Student Housing Market Snapshot

Boundary boundary · Student Housing · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93