FPA Multifamily Acquires Student Housing Near Florida State University For $68M

FPA Multifamily has purchased Seminole Grand, a student housing community located at 1505 West Tharpe Street in Tallahassee. The property was sold by The Collier Cos. for a total of $68,000,000. Spanning across 44.7 acres, the asset offers a total of 487 units, with an average price per unit of $139,630. The property features 1,557 beds, making it an attractive option for students. This student housing community boasts convenient amenities and is in close proximity to Florida State University.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $68,000,000
• Address: 1505 West Tharpe Street, Tallahassee
• Market: Tallahassee
• Asset Type: Student Housing
• Acres: 44.7

The buyer, FPA Multifamily, made the purchase with the representation of Ryan Lang, Avery Klann, Jack Brett, and Ben Harkrider from Newmark. This acquisition adds to FPA Multifamily's portfolio and offers them a strong presence in the student housing market near Florida State University.