TSB Capital Advisors Closes 15 Deals Totaling Nearly 3,700 Units and More Than 9,300 Beds
PHOENIX, AZ – TSB Capital Advisors, the national leader in student housing real estate advisory services, successfully consulted on 15 new deals to close the third quarter and start the fourth quarter of the 2020 fiscal year. These recent transactions, totaling nearly 3,700 units and more than 9,300 combined student housing beds, stretch across top markets from Seattle, Washington, to Orlando, Florida.
“It’s a testament to our industry-leading clients and our long-standing relationships in the student housing sector that we continue to close deals in the current environment,” said Timothy S. Bradley, founder of TSB Capital Advisors. “I’ve said from the start that the right deals, with the right partners, can still move forward, even during a pandemic. We’ve proven this over the last six months and reaffirmed the student housing space is as resilient as ever.”
The deals range from joint venture partnership and construction financing to senior permanent financing and a closed sale. New construction financing was placed for The Standard at Ann Arbor in Ann Arbor, Michigan, The Retreat on Milledge in Athens, Georgia, and The Retreat East near Central Florida University, as well as Hub IV Tucson near the University of Arizona and Oliv Seattle near the University of Washington. Permanent financing closings feature three luxury high-rises at Power Five schools: Union Tempe, a 407-unit, 857-bed community near Arizona State University, Hub Minneapolis, a 426-unit, 707-bed building serving students at the University of Minnesota, and Moontower, a 166-unit, 567-bed building located next to the University of Texas at Austin. TSB also closed on the sale of The Dean in Champaign, Illinois, and the acquisition financing for the buyer.
“We’re far from finished and anticipate a strong close to the end of the year,” said Bradley. “Candidly, it’s harder to get deals done, but we remain optimistic that moving forward student housing will continue to be one of the more attractive alternative investments within the real estate sector.” TSB Capital Advisors is the national leader in student housing real estate advisory services and has offices in Phoenix, Arizona (headquarters), and Paoli, Pennsylvania. Since its creation in 2009, TSB Capital Advisors has helped close more than 300 deals and $23 billion in student housing and multifamily transactions.