TSB Realty closes sale of The Verge Orlando, student housing property near the University of Central Florida
PAOLI, PA — TSB Realty, LLC completed the sale of The Verge Orlando, a 312-unit, 930-bed luxury student housing property serving the University of Central Florida. Coastal Ridge Real Estate and an institutional investor purchased the property from Campus Advantage.
“The recent value-add improvements completed by Campus Advantage positioned The Verge as one of the most desirable properties in the UCF market,” said Timothy S. Bradley of TSB Realty. “Coastal Ridge recognized the property’s strength, making it the perfect fit for their growing portfolio.”
Located adjacent to the University of Central Florida campus, The Verge Orlando offers a newly refreshed amenities package and recent value-add renovations. Premium unit finishes include modern furniture packages, fully equipped kitchens with GE appliances, granite countertops, hardwood-style floors in kitchen and common areas, carpeted bedrooms with spacious closets, and in-unit washer and dryer. The property also features a 24-hour fitness center with cardio room and fitness-on-demand, 24-hour recreation room with billiards, foosball and shuffleboard, resort-style pool with sundeck, hammock garden, and outdoor gourmet kitchen with professional built-in grills.
Coastal Ridge Real Estate, based in Columbus, Ohio, and Santa Monica, California, is a full-service investment management firm focused on the multifamily real estate sector. Coastal Ridge Real Estate currently has $2.6 billion of assets under management, including over 20,000 student housing beds, and is one of the 15 largest student housing owner-operators.
Campus Advantage is a real estate investment management firm fostering financially prosperous higher education student housing communities through its management, development, acquisition, and consulting services. Since its founding in 2003, Campus Advantage has become one of the fastest growing private student housing companies in the nation. TSB Realty is a full-service, national investment sales firm specializing in the valuation and disposition of student housing communities and conventional multifamily communities. Since inception in 2014, the Paoli, Pennsylvania-based firm has closed more than $4 billion in student housing sales for a diverse client base, encompassing more than 33,000 beds from tier 1 markets to tertiary markets.