May 27, 2016
Pierce Education Properties acquired the Pavilion on 62nd, an off-campus student-housing property in Gainesville, FL serving the University of Florida and Santa Fe College. The seller was Blue Atlantic Gainesville LLC, based in Chicago. The sales price was undisclosed.
The Pavilion on 62nd, located at 1000 S.W. 62nd Blvd., is a 990-bed, 312-unit property just west of the University of Florida campus. The seller, which had held the property for several years, spent $3.6 million on renovations.
“Our acquisition of The Pavilion on 62nd further expands our reach in the Southeast Region, where we already own student housing at University of South Carolina, Georgia Tech, Western Kentucky University, East Carolina University and West Virginia University,” said Boston-based Pierce Education Properties’ President and CEO Frederick. W. Pierce.