Cushman & Wakefield has arranged the sale of a 3.82-acre site located adjacent to the University of Central Florida in Orlando.
The final sale price was $15.6 million.
Travis Prince of Cushman & Wakefield’s Student Housing Capital Markets team and Mike Donaldson and Nick Meoli of Cushman & Wakefield’s Capital Markets team represented the seller in the transaction. A joint venture between 908 Group and Scannell Properties acquired the property.
“This site offered a premier location close to campus in a market with leading occupancy, rental rates and high demand,” Prince said.
Located at 12175 Science Drive, the property is currently occupied by Pine Ridge Terrace, a conventional multifamily apartment community, and could support up to 764 student housing beds.
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