TAMPA, FL—Colliers is getting into the student housing game. The brokerage just launched its National Student Housing Practice Group and hired two of the nation’s top student housing real estate professionals, Dorothy Joffe Jackman and Travis Prince.

Student housing has been one of the bright spots in the commercial real estate market—total annual sales in this niche have been estimated to be much as $2.5 billion as demand continues for newer facilities that better fit the needs of today’s students. Based in Clearwater, Fla., Jackman and Prince have been named managing directors of Colliers’ Student Housing Practice Group, and will serve clients nationwide.

“The entire housing sector—apartments, seniors housing and student housing—has been a bright spot in our industry this past year,” Dwight Hotchkiss, executive managing director of Client Services for Colliers International, tells  GlobeSt.com. “We see this trend continuing and made it a priority to bring on an industry-leading team.”

Jackman and Prince have a long track record as one of the top-performing student housing brokerage teams in the country. Jackman, who transitioned to brokerage nine years ago after a six-year career in student housing management, has closed over $540 million of sales and won a number of industry awards, including designation as a “Woman of Influence” by Real Estate Forum. Prince has handled over $500 million worth of student housing and multifamily assignments.

“The primary challenge is the lack of any centralized data resource,” Prince tells GlobeSt.com. “The industry is still in its relative infancy, evolving from its beginnings as a highly fragmented ‘mom and pop’ business.  It’s critical to understand the micro fundamentals within each market because the drivers that make properties a success can vary widely from school to school.”

The student housing niche requires market knowledge and student housing experience for success, because each local market is different. Colliers is actively recruiting real estate professionals to join the student housing practice.

““The key for success is to continue to focus on clients’ needs and goals, whether through problem solving, creating value or seizing marketing opportunities,” Jackman tells GlobeSt.com. “Modern student housing has a wide variety of suite-style floor plans, to fit different students’ needs,” Jackman said. “And many of these communities are rich with amenities, with everything from nail salons, state-of-the-art fitness centers, and tanning facilities to resort style pools and Jacuzzis.  Basically, everything you would expect at a five-star hotel.”