Updated Oct 15, 2026
Barbara Cocciolo Of Affordable Housing Preservation Corp. Acquires Student Housing In Sweetwater For $168.5M
795 Southwest 110th Avenue
$168,500,000
Building Size
—
Asset Type
Student Housing
Closing
Oct 14, 2026
About this deal
AI
Affordable Housing Preservation Corp. acquired Lapis, a 1,086-bed student-housing property located at 795 Southwest 110th Avenue in Sweetwater, Florida. The asset spans 1.73 acres and was built in 2023. The transaction was valued at $168.5 million.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $168,500,000
- Buyer: Barbara Cocciolo - Affordable Housing Preservation Corp.
- Seller: Karl Mistry - Toll Brothers; Global City Development; RER Ventures
- Broker: Holland & Knight
- Tax-exempt bonds amount: $193,830,000
The acquisition took place near Florida International University, highlighting its strategic location for student housing. The deal was successfully arranged by the legal firm Holland & Knight, ensuring the seamless completion of the transaction between the parties involved.
On the Map
$168,500,000
Student Housing
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Chaptico Student Housing Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93