Gainesville, Fla. — Park Partners Residential has acquired a 1,356-bed student housing portfolio located near the University of Florida in Gainesville.
Properties include Campus Club and Gateway at Glades. The company plans to renovate and reposition both properties to compete against newer assets in the market. Elliott Throne and Brian Gaswirth of HFF worked on behalf of Park Partners to secure $36.8 million in acquisition and bridge financing. Resource Real Estate provided the loan. Peak Campus has been awarded management of the properties.