Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of The Nine at Central, a recently built 201-unit and 764-bed student housing apartment community located at the University of Central Florida in Orlando.
The Nine at Central was sold by 908 Group & Scannell Properties and purchased by L3 Campus, a student-housing focused owner and operator with around 5,000 beds across various markets. Travis Prince, Shawn Lubic, and Victoria Marks-Vagnier of Cushman & Wakefield’s Student Housing Capital Markets team represented the seller in the transaction. The firm also brokered the sale of the land, on which the community was developed, back in 2021.
“Florida’s growth story has been a catalyst for the high demand we are seeing for student housing beds in the Orlando market. The opportunity to acquire The Nine at Central allows new ownership to benefit from this and acquire best in class product and location in a Power 5 market,” said Travis Prince, Executive Managing Director at Cushman & Wakefield.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more.
