Back Halstatt Announces the Sale of The Henry
Student Housing Tower Serving the University of Tampa and University of South Florida Sells Through a Sale to Strategic Facility Partners
Naples, Fla. – June 25, 2024 – Halstatt Real Estate Partners, a real estate private equity firm, today announced the sale of The Henry, a purpose-built student housing tower in Tampa, Fla. The asset was sold to a subsidiary of Strategic Facility Partners (“SFP”), a 501(c)(3) organization, and the purchase was funded through the offering of tax-exempt and taxable bonds that were more than 10 times oversubscribed. Halstatt Real Estate Partners collaborated with Development Ventures Group and intowngroup to build the 23-story tower which includes 188-units for a total of 537 beds, a dedicated parking deck, and premium amenities. The tower opened for students in the Fall of 2021 and was quickly leased.
“We are thrilled with the successful sale of The Henry, which has set a new standard for student housing in Tampa,” said Bobby Sullivan, managing director, Halstatt Real Estate Partners. “Our collaboration with Development Ventures Group and intowngroup allowed us to create a top-tier living experience for students, blending modern conveniences with a prime location. The quick lease-up and positive feedback from residents have been a testament to the quality and thoughtfulness of the development. We are grateful to RBC Capital Markets, LLC (“RBC”) for their guidance in the sale process and know SFP will continue to build on this success, providing exceptional housing for future students.”
Located at the corner of Tyler Street and Ashley Drive, the tower provides an array of floorplans from one-, two-, and four-bedroom furnished units featuring apartment-style kitchens and in-unit washers and dryers. The seventh floor features a dedicated collaboration space with a clubroom and lounge, coffee bar, gaming area, and fitness center. Outdoor amenities include a sculpture garden with a fire pit, gas grills, and a swimming pool. The building overlooks the University of Tampa’s campus, Tampa’s Museum District, and the Tampa Riverwalk. In addition, the property incorporates approximately 1,500 square feet of retail space and nearly 400 spaces of structured parking.
Halstatt Real Estate Partners identifies value-add and opportunistic real estate projects throughout Florida and other parts of the Southeast and Texas. The company partners with qualified sponsors to develop and implement a strategic business and capital improvement plan to maximize demand-driven development opportunities.