UF Student Housing Community Trades for $36.25 Million

 GAINESVILLE, FLA. — The Preiss Company has acquired a 770-bed student housing community serving students of the University of Florida for $36.25 million. The seller was a joint venture between New York-based Glenmont Capital Management and Birmingham, Ala.-based Arlington Properties. Canopy Apartments is located at 4400 SW 20th Ave. in Gainesville. Constructed in 2009, the property features five three-story residential buildings containing a mix of two- through four-bedroom units. Unit amenities include granite countertops, stainless steel appliances and nine-foot ceilings. Community amenities include a resort-style pool with a bar and grilling area, a fitness center, a clubhouse with a gaming area, an indoor basketball court, two sand volleyball courts, a virtual golf course, tanning beds, and a business center. Canopy Apartments was 95 percent occupied at the time of closing. The Holliday Fenoglio Fowler (HFF) team of Brian Kelly and Manny de Zarraga represented the seller. HFF also assisted Preiss in arranging acquisition financing for the property. HFF’s Timothy Joyce, Stephen Skok and Elliott Throne secured a $26.4 million acquisition loan through M&T Realty Capital Corp. The loan carries a 4.5 percent fixed interest rate and a 12-year term.   

Source: Real Estate Business Magazine

 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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