- February 10, 2022
- Industry, Insights
Saxum Real Estate Acquires Student Housing Property | Gainesville, FL
April 05, 2022
Press Releases, Projects
April 5, 2022: Saxum is proud to announce the closing of an interest in Oakbrook Walk and Oaks Apartments, two fractured condominium complexes that function primarily as a student housing community at the University of Florida. The property is located within an eight-minute walk to the University of Florida campus in Gainesville, Florida.
Saxum is acquiring the 207-unit, 414-bed community in partnership with a San Francisco based institutional equity partner. The transaction brings Saxum’s total student housing portfolio to approximately 2,500 beds. The property was acquired at a significant discount to recent sales at the University of Florida, representing an attractive going in yield with additional value-add upside. Saxum will commence a value-add program to renovate-units and increase rents to market, while concurrently working to collapse the condominium association. Saxum continues to focus on identifying unique value-add student housing opportunities in growth markets that offer outsized risk-adjusted returns.
“We are very excited about this opportunity and remain focused on uncovering value-add opportunities that don’t fit the traditional mold.”
Greg Bronson, Director of Investments | Student Housing
About Saxum: Saxum Real Estate is a national real estate investment and development firm specializing in value-add and opportunistic development opportunities across the U.S. in multiple asset classes. Leveraging its vertically integrated platform, Saxum has the ability to implement a unique approach to creating value and enhancing real estate strategies at every step of the investment life cycle. www.saxumre.com
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