A 576-bed student housing community less than a half-mile from the University of Tampa has been listed for sale as demand for housing near the campus remains strong. Commercial Street Partners, the property’s Rochester, New York-based owner, has hired Colliers to market the eight-story asset, though no asking price was disclosed.
Key takeaways
- Apella on Newport includes 150 units and 576 beds at 311 N. Newport Ave.
- The community was completed in 2024 on a 1.78-acre site.
- Occupancy reached 96.56% for the 2025-2026 academic year.
- The property is 96% leased for the 2026-2027 school year.
- Colliers is representing the seller in the transaction.
The high leasing levels point to continued demand for purpose-built student housing close to the University of Tampa. The property offers two-, three-, four- and six-bedroom floor plans, with units averaging 1,301 square feet.
Property details and location
Apella on Newport has 303 parking spaces and sits just off the University of Tampa campus, across the Hillsborough River from downtown Tampa. Its location provides residents with proximity to classes, downtown employment centers, restaurants and entertainment venues.
The community’s 150 units are designed for students seeking shared accommodations in a professionally managed setting. Its larger floor plans and proximity to campus position it within a segment of the Tampa-area housing market that has attracted investor attention.
Investment history
Hillsborough County property records show Commercial Street Partners acquired the previously vacant 1.78-acre site in 2022 for $11.5 million. The developer completed Apella on Newport in 2024 and refinanced the property for $97.45 million in 2025.
The current sale process gives investors an opportunity to acquire a relatively new student housing asset with established leasing performance. The absence of a disclosed asking price means the property’s eventual value will be determined through the marketing and bidding process.
Leasing performance and market appeal
Apella on Newport was 96.56% occupied during the 2025-2026 school year and was 96% leased for the upcoming 2026-2027 academic year. The community’s average rent is $1,680 per month.
Those figures suggest that the property has maintained strong demand despite being a recent addition to the local housing inventory. For potential buyers, the leasing track record may provide a measure of operating stability while also highlighting the appeal of housing within walking distance of the university.
Sale representation
Colliers has been retained to represent Commercial Street Partners in the sale. The brokerage team handling the assignment includes Sean Baird, Jonathan Holt and Cole Cusmano.
The listing comes as Tampa continues to draw investment in housing tied to universities and downtown employment districts. Interest in Apella on Newport will likely center on its location, modern construction, parking supply and nearly full leasing profile.
- University of Tampa adjacent student housing listed for sale, Business Observer.