TAMPA, FL—Two student-housing communities that serve the University of South Florida here have been sold for a combined $22.3 million.

Orlando-based brokerage firm Smith Equities Real Estate Investment Advisors reports it negotiated the sale of the two properties—Campus Club and College Court.

Campus Club, built in 2005, is a 64-unit, 256-bed community on East Fletcher Ave. that sold for $10.5 million. Units feature four bedrooms, 4.5 baths. Campus Club is the only property to have the extra half bath in the USF market, Smith Equities states.

College Court, built in 2004, is a 92-unit, 356-bed community on North 56th Street that sold for $11.8 million. College Court has apartments that are a mix of three bedrooms, three baths and four bedrooms, four baths. Both communities are gated and have resort style pools.

Paul Guyet and Geoff Harlan of Smith Equities worked with two different sellers to secure one buyer for both properties. No further financial details on the sales transaction were released.

"Since no new student housing communities were built this past year and enrollment was up, the off-campus market was very active this past leasing cycle,” says Guyet.

"Although both of these properties were owned by different sellers, we were able to put both under contract with the same investor" adds Harlan. "Since the properties were so close to each other physically, we saw value in presenting them together to investors that were looking for opportunities in the USF student housing market."