Campus Realty Sells 344-Bed Student Housing in Pensacola
The Pensacola, Fla., property came online in 2017.
Campus Realty Advisors has sold The Edge, an 84-unit, 344-bed student housing community in Pensacola, Fla. JLL arranged the deal on behalf of the seller.
At the time of sale, the property had a 97 percent occupancy rate for the fall 2024 academic year. The company completed the five-story building in 2017 with the help of a $12.7 million construction loan originated by Renasant Bank, according to Yardi Matrix information.
Located at 10300 University Parkway, The Edge is within walking distance of the University of West Florida’s main campus and less than 2 miles from UWF Football Stadium. Pensacola International Airport is 6 miles away, while the city’s downtown is 10 miles south.
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The low-rise encompasses three-, four- and five-bedroom floorplans ranging from 1,079 to 1,595 square feet. The fully furnished apartments have bed-to-bath parity and feature private balconies or patios.
Common-area amenities include a fitness center, swimming pool, clubhouse, business center and coffee bar. The property also has a yoga room, outdoor grilling area, cabana, indoor tanning room and a computer lounge.
JLL Managing Directors Joe Ayers and Cliff Taylor led the Capital Markets Investment Sales and Advisory and Student Housing Advisory team that brokered the deal.
The University of West Florida saw six consecutive years of enrollment growth, reaching 14,712 students in the fall 2024 school year. The market also experienced a 7 percent increase in rent for the current academic year as student housing demand continues to rise.
