ORLANDO, FL– Orlando-based Smith Equities Real Estate Investment Advisors announced the sale of The Edge (top left and bottom photos) at 42nd Street (formerly Fontana Hall) in Tampa Florida for an undisclosed price.
Located on 4.874 acres of land at the northeast corner of 42nd Street and Fletcher Ave the property consists of a 13 story building that was used to house students who attend the University of South Florida plus a one story building that was used as a community center and a cafeteria.
It was built in 1968 and is opposite the main entrance to University of South Florida which is part of the university system of the State of Florida.
According to Smith Equities Real Estate Investment Advisors student housing specialist Paul Guyet (middle right photo), “The student Housing Industry has evolved from dormitory style living to apartment living with resort pools, high speed internet access and other modern amenities.” Guyet negotiated the sale.
The buildings will be demolished and replaced with a modern, up-to-date student housing community that will have approximately 314 units with 539 bedrooms plus parking.
The seller was Landmark at Sky Tower Suites, LLC and the buyer is University Residences USF, LLC.
Mr. Guyet has sold 14 student housing communities and 4 sites for development for student housing in Florida. This is the second transaction in the past 8 months where he sold a new development site across the street from a major university.
He also sold University Shoppes, a 14 acre site at the main entrance to University of Central Florida in Orlando. Mr. Guyet also publishes a student housing report at both USF and UCF each year.
Contact:
Paul M. Guyet,
Smith Equities
407-422-0704, ext. 105
