HREP acquires Orlando student tower and academic complex

Halstatt Real Estate Partners has acquired Orlando, Florida-based UnionWest at Creative Village, a student housing tower and academic complex. No financial terms were disclosed.


NAPLES, Fla.–(BUSINESS WIRE)–Halstatt Real Estate Partners, a real estate private equity firm, today announced the opening of UnionWest at Creative Village, a student housing tower and academic complex in downtown Orlando. The company provided equity and partnered with Development Ventures Group and Ustler Development to create the 15-story building with 644 student housing beds, more than 100,000 square feet of academic space and 11,000 square feet of street-level retail plus a 600-space parking garage.

“Halstatt Real Estate Partners is proud to contribute equity to UnionWest at Creative Village, a best in class collaborative, learning and academic campus in the heart of Orlando. We are pleased with the execution and quality of the project and excited to be a part of the new University of Central Florida and Valencia College downtown campus at Creative Village,” said Katie Sproul, chief executive officer, Halstatt.

Located at the corner of W. Livingston Street and N. Terry Avenue, the $105 million UnionWest is part of Creative Village, a $1.5 billion mixed-use master redevelopment project. The high quality, sustainable neighborhood will feature a dynamic mix of uses with urban amenities such as restaurants, entertainment, art, parks, and open spaces.

Five of the six ground-floor retail locations in UnionWest are leased and include Vera Asian, Addition Financial, Subway, Dunkin’ and Qdoba Mexican Grill. The student housing opened at over 97% leased.

“We are impressed and delighted with the final building and are confident that students will enjoy this premier living experience,” said Bobby Sullivan, principal, Halstatt Real Estate Partners. “Halstatt continues to look for opportunities with qualified partners to invest in and create premier student housing projects at universities in high growth markets.”
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout the Florida market. The company partners with qualified sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development opportunities.

About Halstatt Real Estate Partners
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $850 million in Florida-based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity.