FLAGSTAFF, ARIZ. — TSB Realty has arranged the sale of Elara at The Sawmill, an 804-bed student housing community located near the Northern Arizona University campus in Flagstaff. TSB represented the seller, a partnership between McGrath Real Estate Partners and Kayne Anderson Real Estate, in the disposition of the property to an undisclosed buyer.
TSB Capital Advisors consulted on the buyer’s joint venture partnership and secured acquisition financing for the transaction.
Built in 2022, the community offers studio through four-bedroom units. Shared amenities include a resort-style swimming pool, jumbotron, grilling pavilion, fitness center, private and group study lounges, a pet wash station and an outdoor bouldering rock.
“We’re proud to get this deal over the finish line before the end of the year, especially in the current market environment,” says Timothy Bradley, a principal with TSB Realty and founder of TSB Capital Advisors. “As the newest purpose-built property in a very high-barrier-to-entry market, with a top-of-the-line amenities package, 99 percent occupancy and impressive rent growth, Elara is an excellent addition to the buyer’s portfolio.”