Insights > Deals
ULake Apartments LLC acquires 300‑unit U Lake Apartments near USF
28 July 2026 | Asset acquisition | US | 300 units | Operational
The 11‑acre community near the University of South Florida was acquired with a $22 million mortgage from KeyBank.
Key details
Asset type | Operational |
Location | Tampa, Florida, US |
Capacity | 300 units |
Seller | Core SVA Tampa Bruce |
Buyer | ULake Apartments LLC |
Value | $21.08 million |
Source: Tampa Bay Business & Wealth
U Lake Apartments is a student-oriented community located close to the University of South Florida campus at 14200 Bruce B. Downs Boulevard. Its accommodation comprises one‑ and two‑bedroom apartments across an 11‑acre site.
The buyer financed the acquisition with a $22 million mortgage from KeyBank. The property also offers a recently renovated amenity package designed for the university‑area rental market.
Strategic context
The acquisition gives the buyer immediate scale in one of Tampa's largest education‑led rental catchments at approximately $70,000 per unit. Its mix of conventional apartments and student‑oriented operations provides access to university demand without relying exclusively on students. The financing amount slightly exceeds the purchase price, indicating additional capacity for transaction costs or investment in the asset.
For the wider market, the deal shows that lenders remain active for established university-area housing despite selective capital conditions.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.