TAMPA, FL – Walker & Dunlop, Inc. announced that it structured $25,350,000 in financing for The Retreat at Tampa, a Class A dedicated student housing property in Tampa, Florida. Located adjacent to the University of South Florida, the cottage style community was built in 2017 and comprises 416 beds in total.
Walker & Dunlop Senior Managing Director Will Baker, Senior Director William Shell, and Associate Director Doug McDaniel provided the debt in collaboration with the experienced student housing team at TSB Capital Advisors. The team leveraged its extensive knowledge of student loan programs and canvassed its vast network of capital providers on behalf of the buyer, Nimes Real Estate. Walker & Dunlop ultimately provided the capital through its own balance sheet lending program, which offers permanent and small-term, nonrecourse loans for properties that are being bought or repositioned.
Mr. Shell commented, “Despite uncertainty surrounding the student housing market, we were pleased to be able to offer competitive terms for Nimes Real Estate, an experienced and well-respected student housing operator. The Retreat at Tampa is exceptionally well located and caters to the University of South Florida’s 44,000+ students.”
“This is a prime example of the power of Walker & Dunlop’s platform. Being able to provide flexible financing solutions to our clients fills a critical void in the lending market,” added Mr. Baker. “Through our program, we successfully provided higher proceeds to this strong, repeat client.”
“Walker & Dunlop exceeded our expectations, providing an execution that enhanced our investment returns. Additionally, they went above and beyond the normal level of service to help Nimes Real Estate with maintaining the extremely compelling investment returns despite the transaction closing during a period of extreme interest rate volatility,” remarked Randy Winograd, President of Nimes Real Estate. “We look forward to working with Walker & Dunlop in the future as we continue to expand our student housing portfolio.”
The Retreat at Tampa offers spacious floor plans with three- and four-bedroom layouts, as well as the option for full furniture rental packages. Each of the luxury cottages features decks or patios, private bedrooms with individual bathroom suites, walk-in closets, high-end finishes, hardwood-style flooring, granite kitchen countertops, and stainless steel appliances. Community amenities include a resort-style pool, grilling area, state-of-the-art fitness center, computer lounge, study rooms, an enclosed dog park, and expansive green space.

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KNIGHTDALE, NC – Officials at The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, Township Capital, Inc., and a private equity real estate fund advised by Crow Holdings Capital announced the joint-venture acquisition of the 304-unit conventional multi-family housing complex, View at Legacy Oaks, for an undisclosed amount.
We have been working with Crow Holdings over the past nine months to identify value-add and core+ multi-family acquisitions in key southeastern markets, said Susan Folckemer, chief acquisitions & development officer, TPCO. This is our ninth joint-venture with Crow Holdings, and we look forward to expanding our investments with them and adding to our market-rate portfolio. We anticipate that this will be the first of several market-rate acquisitions and development announcements this year.
We continue to seek best-in-class partners such as The Preiss Company and look forward to more acquisitions in the coming months, said Matthew Gorelik, CEO, Township Capital, Inc. When motivated parties come together, we collectively can go quickly to buy the strongest of assets.
Located at 1150 Baxter Lane, the complex offers 1-, 2- and 3-bedroom apartments with features including walk-in closets, in-unit washer & dryer, arched doorways, crown molding, patios and sunrooms. Additional options include attached garages, upgraded finishes and additional storage units.
Communal amenities include an oversized resort-style pool and sundeck, outdoor kitchen, 24-hour fitness center, playground, car care center and dog park. Additionally, residents can delight in the proximity to I-540, as well as numerous shopping, entertainment and restaurant venues.
TPCO will invest significant capital to upgrade the View at Legacy Oaks. The improvement program will consist of clubhouse and outdoor space renovations, new exterior paint and flooring, cabinet, appliance, counter and light fixture upgrades to the community over an 18-month period.
The View at Legacy Oaks already is a highly-rated community in this submarket, and we’re excited to bring even more value to our residents with our plotted renovations to the interiors and amenity areas, said Adam Byrley, COO, TPCO. We believe our best-in-class management team will make a unique and memorable living experience for existing and future residents.

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EL SEGUNDO, CA – Griffin Capital Company, a leading privately-held alternative asset manager, and Legacy Partners, a privately-owned national multifamily development and management firm, announced the sale of MODA at Monrovia Station ( MODA ), a 261-unit, Class A multifamily community located in Monrovia, California.
The property was bought for $100 million by Opportunity Housing Group as a property administrator for the California Statewide Communities Development Authority (CSCDA). Legacy Partners developed the property in a financial partnership with Griffin Capital and Silverpeak Real Estate Partners. Legacy will continue to manage the community following the sale closing.
This successful disposition confirms our strategy of developing in-fill Class A apartment communities proximate to major employers with simple access to public transit, said Eric Kaplan, President of Griffin Capital Private Equity. The property was over 90 percent leased at the time of sale, and the sale price generated an attractive risk-adjusted return for our investors.
Griffin Capital has been a fantastic long-time partner of ours, said Timothy O Brien, Senior Managing Director of Legacy Partners. Our MODA community has been highly successful, and exemplifies the need for and interest in transit-oriented developments. We look forward to continuing our relationship with Griffin as we expand our development and property management services throughout the country.
Adjacent to the Gold Line at Monrovia Station, and less than one mile from Ancient Town Monrovia, MODA features one- and two-bedroom residential units with two landscaped courtyards which feature a pool and spa, highly-amenitized kitchens, barbeque areas, fire pits, and a dramatic 4,000-square-foot rooftop terrace.
Griffin Capital and Legacy were represented in the sale by Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap.

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