Temple Terrace, Fla. — Marcus & Millichap has arranged the sale of Boardwalk at Morris Bridge, a 146-unit, 580-bed student housing community in Temple Terrace serving the University of South Florida.
The $17.2 million sales price equates to $117,808 per unit.
The property is located at 8800 Boardwalk Trail Drive in Temple Terrace, less than a four-minute drive from USF’s main campus in Tampa, Florida.
Built in 2001, Boardwalk at Morris Bridge has received upgrades to approximately 60 of its 580 beds. Improvements have included light cabinetry, faux-wood floors, carpet replacement and appliance updates. The unit mix is 144 four-bedroom/four-bath units and two two-bedroom/two bath units.
Units feature fully furnished common areas and bedrooms, high-speed Internet, digital televisions and washers and dryers. Community amenities include a resort-style swimming pool and spa, tanning beds, a clubhouse, study center, 24-hour courtesy officer and shuttle service to the campus.
Frank Carriera, Michael Regan and Alex Blagojevich, vice presidents investments, and Krone Weidler, associate vice president investments, all in Marcus & Millichap’s Tampa office, along with David Gaines, vice president investments, and Greg Gonzalez, associate, both in the firm’s Chicago Downtown office, represented the seller, as well as the buyer.