Source: Kensington Realty Advisors / #Student #Housing
TALLAHASSEE, FL – Kensington Realty Advisors, a SEC-registered investment advisor based in Chicago, and SEDCO Capital have jointly acquired The Catalyst Student Apartments. The Catalyst is a 130-unit, 402-bed Class A community located adjacent to the Florida State University campus. ARA brokered the sale for global alternative asset manager Carlyle and its partner, Chance Partners, LLC, an Atlanta based developer and operator. Carlyle had invested via its $2.3 billion Carlyle Realty Partners VI.
The recently completed property offers numerous amenities including a two-level fitness center, rooftop deck, resort-style pool, Internet café and many study lounges. “We are delighted to be able to add this state-of-the art student housing property to our investor’s portfolio.” said James Lee, Senior Principal of Kensington. “The Catalyst is at the epicenter of academic facility, housing, retail, hotel and entertainment growth at FSU. It is also quite close to the football stadium, which is of paramount importance for Seminole fans!”
The Catalyst was fully leased prior to its completion and opening for the 2013-14 academic year. It is located at the south end of the campus and also attracts students from Florida A&M University and Tallahassee Community College nearby.
Kensington Realty Advisors, Inc. is a Registered Investment Advisor providing investment management and advisory services. Acting strictly as a fiduciary, its primary clientele includes institutional, pension, off-shore and high net worth investors. KRA is composed of a team of highly experienced real estate professionals with extensive backgrounds in real estate investment and asset management.
SEDCO Capital is a leading investment management firm based in Jeddah, Saudi Arabia. SEDCO Capital has a strong track record of delivering superior returns and currently manages in excess of US$ 3 billion in a diversified spectrum of investments in real estate, equities and other businesses.