21 Mar PARK PARTNERS RESIDENTIAL ANNOUNCES STUDENT HOUSING PORTFOLIO ACQUISITION
Park Partners Residential announced today the acquisition of Campus Club and Gateway at Glades, a 1,356-bed student housing portfolio serving students in the Gainesville, Florida area. The joint venture partnership of Giles Capital Group and Rosemurgy Properties recently closed on the portfolio, and have begun multi-million dollar renovations to reposition the two assets in Gainesville’s competitive student housing market.
“We are excited to be entering the Gainesville market with the acquisition of Campus Club and Gateway at Glades,” said Rick Giles, Managing Partner, Park Partners Residential and CEO, Giles Capital Group. “These properties are the source of many great memories for thousands of former area students, and we look forward to bringing them back into prominence.”
Campus Club, 4000 SW 37th Boulevard, has 252 fully-furnished, 3 bed/2 bath and 4 bed/3 bath units with a total of 924 beds. Community amenities include resort-style swimming pool with expansive pool deck, 24-hour fitness center, computer lab, four study rooms, two sand volleyball courts, outdoor basketball court and dog park. The property also includes available covered parking, is located on the campus shuttle bus route, and has pedestrian access to Butler Plaza.
Gateway at Glades, 3415 SW 39th Boulevard, has 120 fully-furnished, 3 bed/3 bath and 4 bed/2 bath units with a total of 432 beds. Community amenities include resort-style pool and spa, fitness center, sand volleyball court, two outdoor basketball half-courts, computer lab, TV lounge and game room, and located on campus shuttle bus route.
Major renovations to the two properties have commenced and will include unit interior upgrades, clubhouse, pool area and fitness center renovations, exterior painting and landscaping. Peak Campus will provide management and leasing services for Campus Club and Gateway at Glades.
ABOUT PARK PARTNERS RESIDENTIAL
Park Partners Residential is based in Boca Raton and was founded in 2014 with the intent of developing and acquiring assets throughout Florida. With that strategy in mind they assembled a team of multifamily professionals that had years of experience operating in Florida markets with knowledge of a variety of product types and coupled that with cutting edge technology. The firm also focuses on asset management and construction management services. The leadership team at Park Partners Residential is comprised of executives with individual strengths and over 100 years of experience in real estate united to deliver a preeminent management team. Visit http://www.parkpartners.com/ for additional information.