VerTex-HSRE JV Sells University Trails

Vertex has sold University Trails in Tallahassee to The Scion Group. Vertex has sold University Trails in Tallahassee to The Scion Group.

Tallahassee — Texla Housing Partners has announced the sale of University Trails Tallahassee, which was owned through its VerTex-HSRE joint venture, on March 15.

The 936-bed community underwent $2 million in renovations since VerTex and HSRE acquired it in 2014, achieving 20 percent growth in NOI throughout the turnaround. The property was acquired by The Scion Group, CPPIB and GIC as part of its 11-property acquisition in March.

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