— Exceptionally Located Property
Saga is extremely well positioned for FSU students as it is pedestrian to campus. The property is situated north of campus along West Virginia Street. Students can walk across W Virginia Street—the road marking the northern boundary of campus—to the main academic core of campus at Landis Green within 10 minutes. This walkable location is particularly advantageous as FSU is known for lacking sufficient student parking for those driving to campus daily. FSU students often cite a pedestrian location as the most important factor in deciding where to live in Tallahassee. In addition, popular student bars and restaurants are all pedestrian, adding to the property’s convenience.
— Best-in-Class Amenity Package
The amenities at Saga encourage students to fully embrace a college experience and promote a strong sense of community. The property features a state-of-the-art fitness center, yoga/spin room, resort-style pool, poolside sun deck & hammocks, outdoor courtyard & grilling area, 24-hour clubhouse with social areas, community kitchen, game room, a TV lounge, and computer lounge. Units also offer an unrivaled luxury but affordable experience, with each spacious floor plan including a modern furniture package, premium appliances, LVT flooring, granite countertops, a flat screen TV in every living room, and controlled, electronic access.
— Proven Occupancy and Performance
Saga is a consistent and well-performing asset in Tallahassee. The property averaged 99+%, achieving over 12+% rent growth each year since AY 2020 – 2021. For AY 24-25, the property is on pace for an additional 15% rent growth and is currently 94% preleased. In addition, the unit mix at Saga is 85% comprised of four-bedroom units. Compared to the Tallahassee market average, Saga’s $1,041 average rent per bed is significantly below its peers ($50 – $200+ lower), appealing to price conscious students seeking.
— Leading PBSH Student Housing in the Nation
FSU’s student housing market has experienced upward pressure due to the university’s unwaveringly high demand. This, combined with unprecedented rent growth experienced nationwide in both the conventional multifamily and student housing market, has made FSU a leader in rent growth across the nation. College House ranks Tallahassee among the top PBSH markets, reporting nearly 9% YOY rent growth. Furthermore, the entire FSU PBSH market has averaged 98% occupancy over the last three years per Axiometrics.
— Top Ranked Power 5 / Tier 1 University
Florida State University is the flagship university in Florida and is ranked the #23 public university in the country and the #53 national university according to U.S. News & World Report’s 2024 rankings. It is recognized by The Carnegie Classification of Institutions of Higher Education as a R1 (Tier 1) research university. FSU recorded ~74,000 applicants for Fall 2023 with ~19,000 admitted to the university, resulting in an acceptance rate of 25%. FSU’s most recent first-year class hails from all 67 Floridian counties, all 50 states, and 46 countries, highlighting the university’s worldwide appeal.
— University Committed to Future Success
Florida State University enjoyed a remarkable year of achievements in 2022 while setting a foundation for future success by launching the new FSU Health Initiative, breaking ground on the College of Business’ Legacy Hall and celebrating the inauguration of an exciting new president with extensive experience in Harvard’s leadership. Legacy Hall will be the new College of Business facility and is expected to be the hub of business education, collaboration and development for FSU, elevating the college’s reach nationally and globally. In addition, FSU officially opened its doors to the new Student Union in 2022. The new union boasts an art studio, expanded bookstore, bowling alley and sports bar, restaurant food court and student gathering space.
