ORLANDO, FL - Inland American Communities Group, Inc, a wholly-owned subsidiary of Inland American Real Estate Trust, Inc., announced the completed construction of the University House student apartment community, located at 3200 North Alafaya Trail at the University of Central Florida. Due to its innovative design and premium amenities, the property achieved the milestone of being 100 percent pre-leased in early summer 2012. Beginning this month, the community will open and serve the students of the University of Central Florida and the surrounding areas.
“With the completion of this project on time and under budget, Inland American showed the ability to execute and develop premium student housing properties desired by students,” said J. Travis Roberts, president of IAC. “Going forward, we plan to expand our investment in this growing asset class by completing other developments, including a project scheduled to be finished next fall at California State University Fullerton, and acquiring additional purpose-built premier properties, located on or just off campus, at leading universities.”
The five-story, 416-unit/995-bed development will open in August 2012 and provide nearly 1,000 students with a new off-campus housing option. The property features cutting-edge amenities, including fully furnished apartments, a fitness center, a multimedia lounge, a swimming pool with cabanas, sport courts, a putting green, tanning beds and more. Residents also will have admittance to controlled-access garage parking and the university and city shuttle systems.
“IAC is excited to welcome all of our new residents to enjoy the state-of-the-art amenities, along with a top quality environment for both living and learning,” said David Pierce, senior vice president of development of Inland American Communities.
Inland American Communities Group, Inc. (IAC) is a development, acquisition and management organization dedicated to the creation of authentic communities in university markets across the United States. IAC was formed in 2007 as a wholly-owned subsidiary of Inland American Real Estate Trust, Inc. The company is headquartered in Dallas, Texas.