Halstatt Real Estate Partners has opened The Henry, a 537-bed student housing community in downtown Tampa, Fla. The property was fully leased at the time it delivered.
The company worked with Development Ventures Group and InTown Group to complete the community, which serves students at the University of Tampa.
The Henry is located at 100 E. Tyler St., within a mile of the university’s campus. The 23-story tower has 188 fully furnished units with one- to four-bedroom floorplans. All apartments are equipped with washers, dryers and stainless steel appliances.
Amenities include a game room, private and group study rooms, a fitness facility and a swimming pool with a sundeck. Residents will also have access to 334 parking spaces, a bike storage area and a free shuttle to the university campus.
The property is within walking distance of the Tampa Museum of Art and several parks along the Hillsborough River, and the nearby downtown area has a wide range of retail and dining options.
Student housing poised for recovery
Earlier this year, Halstatt Real Estate expanded its portfolio with the acquisition of Fairfield Residential, an 898-bed student community in Baton Rouge, La., serving Louisiana State University.
The company is leveraging pent-up student housing demand around large universities and expects portfolio performance to continue improving as students return to campuses for the upcoming semester, Halstatt Principal Peggy Lamb said in prepared remarks.
A recent Yardi Matrix student housing report appears to support this: After a slow start at the beginning of the year, rents have begun to increase, with rent growth at 1.2 percent year-over-year through April. In terms of leasing activity, Class A assets outperformed the rest of the quality spectrum, with a 71.4 percent lease-up rate as of April.
In July, Multi-Housing News discussed the outlook for the asset type with DTN Management Co. COO Colin Cronin, and how operators can prepare to meet the challenges of the new school year.