TSB Capital Advisors Consults on Sale of Student Housing Community Near LSU
SCOTTSDALE, AZ — TSB Capital Advisors announced today the completed sale of Arlington Cottages & Townhomes, a 179-unit, 732-bed student housing community near Louisiana State University in Baton Rouge, to a joint venture of H. Katz Capital Group and Coastal Ridge Real Estate.
Katz Capital Group is a private equity office in Southampton, Pennsylvania. Coastal Ridge Real Estate, based in Columbus, Ohio, and Malibu, California, is a full service investment management firm focused on the multifamily real estate sector. The acquisition of Arlington Cottages & Townhomes expands the national portfolio for Coastal Ridge to over 11,000 student housing beds.
Arlington Cottages & Townhomes opened in Fall 2016 and features three-, four- and five-bedroom floor plans. Property amenities include a resort-style pool, outdoor cabanas, sand volleyball court, pool house game room, pet-washing station, 24-hour clubhouse and study hall, a state-of-the-art fitness center with yoga studio and spin room, and shuttle service to campus. Units feature nine-foot ceilings, stainless steel appliances, free cable and wi-fi, optional furniture package, washer and dryer, and private bathrooms for all bedrooms.
TSB Realty, an affiliated company, handled the sale.
Arlington Cottages & Townhomes was developed and constructed by Capstone Collegiate Communities, a Birmingham, Alabama-based company focused on the development, construction and management of high-quality, off-campus student housing developments. The company has a total portfolio that includes 50 communities with over 32,000 beds and $1.3 billion in development costs.
TSB Capital Advisors specializes in real estate finance and full-service consulting with a specialty in the student housing sector. Since its creation in 2010, the firm has consulted on more than $8 billion in closed transactions, resulting in nearly 110,000 beds on and off campus at over 150 locations nationwide.