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Last Updated ( 12/09/2011 21:36 )
DATE_FORMAT_LC2=Friday,December 09 2011 05:00:00 AM   
TREO Partners Acquire Three FSU-Area Sites

Plaza-TREO-Tallahassee-WEBTREO Partners expects this property, The Plaza Apartments, to perform well in its Tallahassee portfolio. It sits on 10 acres near FSU's main campus.Tallahassee, Fla. — TREO Partners of Miami has acquired three student-housing properties in Tallahassee, Fla., within walking distance of Florida State University.

 

The Plaza Apartments, Chartre Oaks/Chartre Ridge and Chapel Terrace total 563 units and 812 beds.

 

“Each community, particularly The Plaza Apartments, which sits on nearly 10 acres of land a block from FSU’s main campus, affords us the opportunity to offer our investors very attractive current cash yields with the potential for significant long-term capital appreciation through improved operations, renovations and/or redevelopment,” says Carlos A. Ortega, co-founder and managing partner TREO Partners.

 

TREO targets core student-related assets throughout the Southeast, with a focus in Florida.

 

- Lynn Peisner

 

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