Sandlapper Student Housing LLC announced it has acquired its first property, Waters’ Edge Apartments, in Pensacola, Fla.
The 184-unit apartment complex represents the first acquisition for the joint venture between Greenville-based Sandlapper Capital Investments LLC and Houston-based INNOVATIVE Real Estate Companies.
“We are excited to have the first acquisition completed,” Sandlapper CEO Trevor Gordon said in a release. “We are actively working with our partners on several other assets around the country and hope to close on those soon.”
The acquisition is in response to the growing public university enrollment shown in the 2010 U.S. Census.