Centurion Property Group has completed the acquisition of CANOPY, a purpose-built student housing community serving students at the University of Florida in Gainesville, Florida.
CANOPY is a 770-bed community offering a mix of two-, three-, and four-bedroom floor plans designed to meet the needs of today’s student renters. Originally built in 2009, the property features a variety of modern amenities including a resort-style swimming pool, state-of-the-art fitness center, study lounge, clubhouse, dog park, and sand volleyball court.
Located near the University of Florida campus, the property benefits from strong demand driven by one of the nation’s largest public universities, which enrolls more than 50,000 students and continues to experience sustained growth and strong off-campus housing demand.
The transaction was brokered by Newmark, and financial terms of the acquisition were not disclosed.
Following the acquisition, Centurion plans to implement targeted capital improvements aimed at enhancing the resident experience and maintaining the property’s competitive positioning within the Gainesville student housing market.
“CANOPY is a well-located asset in one of the country’s premier university markets,” said Aldo Facchi of Centurion Property Group. “The University of Florida continues to demonstrate strong enrollment trends and demand for off-campus housing, and we are excited to further expand our presence in the Gainesville market.”
