Franklin Street Brokers Institutional Sale of 337-Unit Crossing at Santa Fe Student Housing in Gainesville

GAINESVILLE, Florida — Franklin Street has brokered the institutional-level sale of The Crossing at Santa Fe, a 337-unit, 1,178-bed student housing community in Gainesville, Florida, the firm announced Aug. 4. The Collier Companies sold the 454,000-square-foot property to IVY Realty, which plans to continue ongoing renovations and operate the asset as student housing serving Santa Fe College and the University of Florida Foundation.

Deal Details and Property Overview

Located at 3205 NW 83rd Street, The Crossing at Santa Fe spans approximately 454,000 square feet and comprises 337 units across 1,178 beds. On-site amenities include sports facilities with tennis, volleyball, and basketball courts, a fitness center, a swimming pool with a poolside kitchen, a coffee station, a productivity suite, and a co-working lounge.

Franklin Street's national Student Housing team represented the seller, The Collier Companies, in the transaction. The sale marks the third deal that the Franklin Street student housing team has led for The Collier Companies, having previously brokered the sale of Campus Lodge in Norman, Oklahoma, and Lexington Crossing, also in Gainesville.

Broker Commentary: Demand Beyond the Power Four

Patrick Mullowney, managing director of student housing at Franklin Street, said investor interest in the property was strong given Gainesville's market fundamentals.

"There is meaningful investor demand for student housing beyond the Power Four, particularly at institutions with strong enrollment fundamentals and ties to larger university ecosystems," Mullowney said. "Investor interest in the community was high as Gainesville is one of the best in the Sun Belt with upside for long term return on investment from this property."

Joel Dumes, executive managing director of student housing at Franklin Street, said the transaction reflects the selectivity of capital in the current student housing market.

"Capital remains highly selective in today's student housing market, making successful transactions increasingly dependent on an asset's ability to offer a clear path to long-term performance," Dumes said. "This sale goes against the broader trend of investment activity concentrating around larger, more established university markets and demonstrates that quality opportunities can still attract capital when the fundamentals support the investment thesis."

Value-Add Strategy and Renovation Plans

Ivy Capital has indicated plans to continue ongoing renovations to the 337 units while enhancing the community's overall offerings. The buyer intends to maintain the property's student housing designation, continuing to serve the student populations of Santa Fe College and the University of Florida.

Market Context: Student Housing Capital Flows

The transaction comes as investor capital in the student housing sector has grown increasingly selective, with buyers scrutinizing enrollment trends, proximity to campus, historical occupancy, and the physical condition of assets before committing. Franklin Street's framing of the deal as an institutional-level sale signals that The Crossing at Santa Fe met the underwriting standards typically required by institutional buyers and lenders.

The deal also reflects a broader shift in student housing investment activity, with capital beginning to move beyond the largest flagship university markets toward well-located assets at institutions with strong enrollment fundamentals and ties to larger university systems. Gainesville, home to both the University of Florida and Santa Fe College, represents that profile — a market with enrollment-backed housing demand that Mullowney described as among the strongest in the Sun Belt.

Franklin Street is a privately held, full-service commercial real estate services firm headquartered in Tampa, Florida, providing capital markets, insurance services, leasing, and management solutions nationwide. The Collier Companies is a Gainesville-based multifamily and student housing owner and operator.

Sources

Franklin Street — The Crossing at Santa Fe Sale Announcement (Aug. 4, 2026)