PAOLI, PA — TSB Realty, LLC successfully completed the sale of The Walk, an 87-unit, 251-bed boutique mid-rise student housing property located directly across from the University of Alabama campus in Tuscaloosa. Spaces Management sold the asset to Versity Invest.
“It’s hard to beat a newly delivered property in a Power 5 market, especially one as desirable as Tuscaloosa,” said Timothy S. Bradley, a principal with TSB Realty and the founder of TSB Capital Advisors. “When you add the fact that The Walk lives up to its name—situated just one block from Bryant-Denny Stadium, right next to campus—we’re talking about a prime opportunity. We were thrilled to help Spaces Management with this sale and to add to Versity’s growing student portfolio.”
Delivered in 2020, The Walk boasts an irreplaceable location on the University of Alabama’s southern boundary. The community’s outdoor amenities include a pool complete with a tanning deck and a 12-foot outdoor TV, as well as grilling stations, a firepit lounge and a relaxation courtyard with life-size games. The property also features a state-of-the-art fitness center with on-demand classes. Each unit at The Walk is highlighted by modern furniture, quartz countertops, wood-style flooring, complimentary gig-speed internet and 100% bed-to-bath parity.
Spaces Management is a Tuscaloosa-based full-service real estate company founded in 2005. Spaces provides property management services for student housing, conventional apartments, single family rentals, condominium, and homeowners associations in multiple markets. Additionally, Spaces develops and owns real estate, and offers brokerages services.
Versity Invest is a real estate investment company located in Orange County, California.
Founded in 2018, the company specializes in student housing and multifamily projects across the U.S. With a portfolio valued at nearly $1.5 billion across 22 states, Versity has over 1,800 investors and was ranked the 129th fastest-growing company in the U.S. With 36 projects under management, Versity has raised several hundred million dollars in equity investments on route to becoming one of the largest syndicators of real estate in the country. TSB Realty is a full-service, national investment sales firm specializing in the valuation and disposition of student housing communities and conventional multifamily communities. Since inception in 2014, the Paoli, Pennsylvania-based firm has closed nearly $7 billion in student housing sales for a diverse client base, encompassing more than 50,000 beds from tier 1 markets to tertiary markets.