Preiss-Led JV Buys Tallahassee Luxury Student Housing
Matthews Real Estate Investment Services represented the seller of the 752-bed Quantum at West community.
A joint venture with Raleigh, N.C.-based Preiss Co. has acquired Quantum at West Call, a 752-bed, luxury student housing community in Tallahassee, Fla., from Edwards Cos. with the help of Silver Hills Development. Matthews Real Estate Investment Services’ David Roth represented the seller.
Built in 2018, the Class A asset comprises studio, one-, two-, three- and four-bedroom units. Each apartment features stainless steel appliances, granite countertops and wood cabinets. Common-area amenities include a swimming pool, clubhouse, fitness center, outdoor social lounge, business center and study lounges. The property also has 550 parking spaces.
Located at 446 Conradi St., on 4.5 acres, Quantum is within walking distance of Florida State University. The surrounding area has several retail and dining options, including University Village Shopping Center, which is within 1 mile of the asset. Downtown Tallahassee is 2 miles from the property.
Matthews Executive Vice President David Roth assisted the Edwards Cos. with the transaction. In May, the company represented the seller of Parkview East Apartments, a 38-unit community in Sunland, Calif., for $11.7 million.