PAOLI, PA — TSB Realty completed the sale of Arlington Cottages & Townhomes, a 179-unit, 732-bed student housing community near Louisiana State University in Baton Rouge, to a joint venture of H. Katz Capital Group and Coastal Ridge Real Estate.
“Arlington Cottages & Townhomes is another fantastic acquisition for the growing H. Katz Capital Group and Coastal Ridge portfolio as it provides the newest cottage project with the largest unit sizes in the LSU campus and an over-the-top amenity package,” said Randall L. Calvert, who handled the project for TSB Realty.
Katz Capital Group is a private equity office in Southampton, Pennsylvania. Coastal Ridge Real Estate, based in Columbus, Ohio, and Malibu, California, is a full service investment management firm focused on the multifamily real estate sector. The acquisition of Arlington Cottages & Townhomes expands the national portfolio for Coastal Ridge to over 11,000 student housing beds.
Arlington Cottages & Townhomes opened in Fall 2016 and features three-, four- and five-bedroom floor plans. Property amenities include a resort-style pool, outdoor cabanas, sand volleyball court, pool house game room, pet-washing station, 24-hour clubhouse and study hall, a state-of-the-art fitness center with yoga studio and spin room, and shuttle service to campus. Units feature nine-foot ceilings, stainless steel appliances, free cable and wi-fi, optional furniture package, washer and dryer, and private bathrooms for all bedrooms.
Arlington Cottages & Townhomes was developed and constructed by Capstone Collegiate Communities, a Birmingham, Alabama-based company focused on the development, construction and management of high-quality, off-campus student housing developments. The company has a total portfolio that includes 50 communities with over 32,000 beds and $1.3 billion in development costs.
TSB Realty is a full service, national investment sales firm specializing in the valuation and disposition of student housing communities and conventional multifamily communities. In the last two years, the Paoli, Pennsylvania-based firm has closed more than $1.25 billion in student housing sales comprising over 4,000 units and 13,000 beds.
Arlington Cottages and Townhomes marks TSB Realty’s fourth student housing sale to a joint venture of H. Katz Capital Group and Coastal Ridge Real Estate. This transaction follows the recent sale of Aspen Heights Fort Collins, which was announced by TSB Realty on January 26.
