AUSTIN, TX - Campus Advantage, a leading student housing company, acquired The Edge in Orlando, Florida, as part of the company's investment strategy to acquire highly occupied properties near major, high-growth universities such as the University of Central Florida (UCF).
The acquisition of The Edge makes Campus Advantage one of the largest acquirers of student housing assets with more than $675 million in acquisitions. The Edge acquisition is the first acquisition under a second round of funding received by Campus Advantage from a major state pension fund. The Orlando student housing market is just one of the markets nationwide in which the company is expanding its presence in response to local market demands.
"We have a lot of acquisitions in the pipeline," said Michael Orsak, senior vice president of investments for Campus Advantage. "We expect 2016 to be the most active year our company has seen so far. We are excited for these new opportunities and look forward to growing our portfolio of student housing properties and in serving students during this important time of their lives."
The Edge is located just to the west of the University of Central Florida campus and includes 312 units and 930 beds. The University of Central Florida is the largest university in the nation (undergraduate enrollment) with more than 60,000 students, according to U.S. News and World Report. Campus Advantage is planning significant capital investments in The Edge, including a complete renovation of all units.
The property's amenities include a 24-hour fitness center and recreation center with billiards, foosball and ping pong, swimming pool with hot tub and sundeck, barbecue grills, movie theatre room, tennis court, sand volleyball court, basketball courts and study rooms. Its units feature private bedrooms, leather-style furniture, washer/dryer and fully-equipped kitchens.
The Edge is in close proximity to UCF and also along the university's shuttle bus route. It is just minutes from Bright House Networks Stadium and the UCF student union. The Edge also has convenient access to Valencia College, Seminole State College of Florida and Full Sail University.