Summary:
- U Lake Apartments, a 300-unit student housing community near the University of South Florida, sold for $21.08 million. The property spans approximately 11 acres along Bruce B. Downs Boulevard, a key student housing corridor in Tampa.
- The community offers one- and two-bedroom apartments and recently upgraded shared amenities, including three resort-style pools, a fitness center, sports courts, and pet facilities, enhancing its appeal to the growing USF student population.
- The buyer, ULake Apartments LLC, a Florida-based entity with a New York address, financed the acquisition with a $22 million mortgage from KeyBank, reflecting confidence in the sustained demand for off-campus student housing near USF.
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