TALLAHASSEE, FL—Inland American Communitiesjust acquired two fully-developed student housingproperties for $94.6 million. Inland bought The Retreatslocations—one in Tallahassee and one in Raleigh—fromLandmark Properties.
The two properties, located in Florida and North Carolina, offer1,264 beds. Amenities include a resort style swimming pools withmovie screens, basketball courts, tanning beds, game rooms,grilling areas and sand volleyball courts.
Travis Roberts, president of Inland American, tells GlobeSt.comhis firm was attracted to the Tallahassee property because it'snear Florida State University, Tallahassee Community College andFlorida A&M University. That means The Retreat is close to morethan 70,000 students in the Tallahassee market.
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