Tampa Student Community Trades for $128M

The 23-story tower came online in 2021.

The community at 100 E. Tyler St. in Tampa, Fla.
Amenities at the 23-story tower include a fitness center, swimming pool, private and group study rooms. Image courtesy of Strategic Facility Partners

Strategic Facility Partners has purchased The Henry, a 181-unit, 537-bed student housing community in Tampa, Fla., for $128.1 million, according to ConnectCRE. Development Ventures Group sold the property.

The community serving the University of Tampa came online in August 2021 and was developed by Halstatt Real Estate Partners, InTown Group and Development Ventures Group.

The 23-story tower comprises fully furnished one-, two- and four-bedroom floorplans, ranging from 499 to 1,341 square feet. In addition, the property incorporates approximately 2,000 square feet of retail space and 334 student-dedicated parking spaces.

Each apartment features washers, dryers and granite counters. Common-area amenities include a fitness center, private and group study rooms on each story, a rooftop swimming pool with deck and grills, as well as an outdoor game area. The property also has a grab-and-go market and clubroom with digital gaming stations and billiards.

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The Henry is at 100 E. Tyler St. in downtown Tampa, close to the University of Tampa main campus and the Pepin Stadium. Tampa International Airport is also some 6 miles away.

The University of Tampa’s student housing market

The University of Tampa’s total enrollment for the Fall 2023 academic year reached 11,054 students, a new record for the institution. In terms of development, the submarket has one student property under construction, which is expected to add 576 bedrooms to inventory, as well as three prospective projects set to comprise around 1,890 beds, according to Yardi Matrix information.

Nationally, despite a slowdown in preleasing and rent growth, the student housing sector remains strong, the latest Yardi Matrix student housing report shows. Preleasing reached 73.5 percent in April, 50 basis points higher year-over-year and above pre-pandemic average figures. Additionally, the average rent per bed rose 5.5 percent in the last 12 months, standing at $895.

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