GAINESVILLE, FL-Heritage at Gainesville, a 560-unit, 93%-occupied student housing community in this University of Florida city, is under new ownership today. The Paradigm Group of Gainesville paid based paid Landmark Residential of Tampa $44 million, or $78,571 per unit, for the 488,624-sf, garden-style complex at 2330 SW Williston Rd.
The sale price represented a 5.83% capitalization rate. R. Eric Mattson Jr., vice president of Newtown Square, PA-based GMH Capital Partners, and account representative Morgen J. Busch brokered the transaction. A GMH representative tells GlobeSt.com the deal closed Nov. 22 but her client hadn't previously announced the sale or the closing.
Heritage at Gainesville has one-, two- and three-bedroom floor plans, a clubhouse, sand volleyball court, basketball and tennis courts, an indoor fitness center, sauna, two hot tubs and a computer lab.
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