New York-based Ivy Capital has acquired The Crossing at Santa Fe, a large student housing community in Gainesville, Florida, from Collier Cos. The transaction adds 337 units and 1,178 beds to Ivy’s portfolio and represents one of the firm’s largest holdings to date.
Key takeaways
The transaction highlights continued investor interest in housing serving major university markets.
- Ivy Capital, based in New York, is the buyer.
- Collier Cos. sold The Crossing at Santa Fe.
- The Gainesville property contains 337 units and 1,178 beds.
- The acquisition is among Ivy Capital’s largest holdings so far.
A sizable addition to Ivy Capital’s portfolio
The acquisition gives Ivy Capital a substantial presence in Gainesville’s student housing market. With more than 1,100 beds, The Crossing at Santa Fe is a significant addition for a firm that is still building its portfolio.
The deal also broadens Ivy Capital’s holdings through a property designed around demand from students attending nearby colleges and universities.
Property serves Gainesville’s student market
The Crossing at Santa Fe is located in Gainesville, home to the University of Florida and a large population of college students. Its 337-unit configuration provides housing capacity at a time when purpose-built student communities remain an important part of university-area real estate.
The property’s scale makes it a notable asset within the local student housing sector, although the transaction details did not include a purchase price or information about planned changes to the community.
Seller completes transaction
Collier Cos. was the seller in the transaction. The sale transfers ownership of the Gainesville community to Ivy Capital while marking a disposition for Collier’s portfolio.
Neither the purchase price nor additional financial terms were disclosed in the available transaction information. The deal nevertheless underscores the activity surrounding specialized housing assets in established university markets.