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150 Bellamy PlSt Florian, AL 35630
Bellamy Florence
Asset ClassStudent Housing, Multifamily
# Units108
# Beds: 420Occupancy: 90%Land: 12 AcresAccess Data Room
Class A Student Housing Community Serving the University of North Alabama
overview of deal

Overview

Bellamy Florence is a Class A student housing community serving the University of North Alabama in Florence, Alabama. Built in 2018 featuring 108 units and 420 beds, Bellamy is the newest purpose-built student housing in the market that has an average vintage of 1982 among the competitive set of properties. Comprised of 3-, 4-, and 5- bedroom configurations each unit has bed-to-bath parity and comes fully furnished. Apartment features include stainless steel appliances, granite countertops, full-size washer & dryer, wood-style flooring, smart home technology, and smart TVs. Bellamy Florence is highlighted by best-in-class amenities that include a resort-style pool, fire pits & grills, 24-hour computer lab & fitness center, and hammock stations. Residents can take advantage of the most technologically and amenitized community all within the safe confines of a gated community with monitored intrusion alarms.

 

 

 

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Investment Highlights

# Units
108
# Beds
420
Land
12 Acres
Parking Spaces
430 Spaces
% Leased
88%
  • 88% Preleased as of 8/8/2024 Projected 90% Occupancy AY 24/25.
  • Projected average Rent Growth of 10.26%.
  • 5.1% Ahead of AY 23/24 leasing velocity
  • Market Wide Rent Growth.
  • 15th Consecutive year of Record-Breaking Enrollment Growth
  • Diverse Unit Mix
  • Pedestrian to Campus
  • Only True Student Housing Asset in Market
  • Strong Market Occupancy - Averaging 99% for AY 23/24
  • Operational Upside
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150 Bellamy PlSt Florian, AL 35630

Sales Team

Nicholas CoccodrilliSenior Investment Analysis Director | Florida Sales Associate(813) 605-4460nicholas.coccodrilli@colliers.com
Joe MontgomeryColliers Atlanta(770) 789-5514joe.montgomery@colliers.com
Greg YoungSenior Vice President(346) 547-4896greg.young@colliers.com
David CortezVP, Transaction(346) 547-4830david.cortez@colliers.com
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Listing provided by Revere CRE