TSB Realty closes sale of 908 Portfolio, totaling more than 1,100 beds

BETHESDA, MD — TSB Realty completed the sale of three student housing communities in a deal announced today by Walker & Dunlop. The closed transactions comprise The Nine @ West Campus and The Nine @ Rio, both located in Austin, Texas, and The Nine @ Tallahassee in Tallahassee, Florida.

TSB Capital Advisors, our affiliate company, arranged the acquisition financing for this portfolio, as well as for another portfolio also included in the same announcement.

The Nine @ West Campus and The Nine @ Rio are both luxury, purpose-built student housing communities located pedestrian to the University of Texas campus and Austin’s revered dining, retail and nightlife hub, “The Drag.” The Nine @ Rio, which delivered in Fall 2018, features top-of-the-line community amenities such as a resort-style pool with tanning shelf, poolside cabana lounge area, expansive clubhouse, 24-hour fitness center, video gaming lounge and more. Delivered in Fall 2019, The Nine @ West Campus includes a resort-style pool and spa deck, poolside Jumbotron, hammock and lounge area, courtyard grilling stations, 24-hour fitness center, yoga studio and more.

The Nine @ Tallahassee boasts the best combination of modern style, luxury finishes and top-of the-line amenities in the Florida State market. Delivered in Fall 2019, the property is located just steps from the Florida State University campus. Community amenities include a resort-style rooftop pool, poolside Jumbotron, private pool cabanas, bowling alley, coffee and espresso bar, indoor and outdoor fitness areas and 24-hour study center.