SmartStop Affiliate Sells North Florida Student Housing Community
January 14, 2022 | Ioana Muresan |Multi-Housing News
Strategic Student & Senior Housing Trust, an affiliate of SmartStop Asset Management, has sold YOUnion@Tallahassee, a 434-bed community serving Florida State University students in Tallahassee, Fla. SmartStop facilitated the deal on behalf of the REIT.
Yardi Matrix data shows that the seller acquired the purpose-built community directly from the developer in 2017, when Asset Plus Cos. received $47.5 million for the property.
Formerly known as The Domain at Tallahassee, the five-story building at 700 W. Virginia St. is located within walking distance of the FSU campus. Retail and dining opportunities are also within walking distance, while Florida A&M University is less than 3 miles from the community.
YOUnion@Tallahassee offers a mix of one- to four-bedroom apartments ranging from 659 to 1,682 square feet. All units are furnished, and include washers and dryers. Residents have access to a gym, a clubhouse, a swimming pool and more than 200 parking spaces. For the academic year that begins this fall, the community is already 98 percent preleased.
