The Crossing
at Santa Fe
Projected IRR
24.2%
Equity Multiple
2.5x
Avg Cash-on-Cash
9.5%
Purchase Price
$40.7M
$34,550 / bed
Raise
$15.0M
95% / 5% split
Hold Period
5 Years
Aug 2026 close
337 Units
1,178 Beds
Gainesville, FL
July 24th, 2026 Close
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Five reasons institutional capital missed this asset.
Irreplaceable Demand
Santa Fe College is the institutional feeder to the University of Florida. UF has grown more selective, driving 10% enrollment growth at Santa Fe.
Zero Direct Supply
No purpose-built student housing within a 5-mile radius. Nothing competitive in the development pipeline.
40% Discount
Acquired on a per-bed basis at 40% below recent comparable trades in the submarket.
Operational Upside
A clear path to remove nearly $500K of variable expenses creates over $7.5M of operational value.
Renovation Upside
A targeted capex program unlocks roughly 20% rent growth across 80% of the units.
A track record, not a thesis.
$110M+ deployed across 7 student housing assets in 4 states. Realized outcomes including a 24% distribution above projection.
Gainesville is the only U.S. college town where the feeder school sits across the street.
#1
Public university in America (UF, WSJ 2024)
10%
Recent enrollment growth at Santa Fe College
43
Steps from the property to campus
1
Purpose-built competitors within a 5-mile radius
A 5-year, 4-step value creation playbook.
Acquire - $40.7M
Close July 2026. $28.1M acquisition loan + $15.7M equity. Asset taken private at a 40% per-bed discount.
Renovate - $9.7M CapEx
36-month interior and amenity program. Targeting 20% rent uplift across 80% of units.
Refinance - $45.3M Loan
Year 4 supplemental at 6.0% rate, 65% LTV, returning capital to LPs.
Exit - $79.6M Sale
Year 5 disposition at a 6.50% forward-looking exit cap rate.
$100,000 invested today is projected to return $250,000 in five years.
Projected IRR
24.2%
Equity Multiple
2.5x
Refi Capital Return
4 Year
Acquisition Loan
$28.1M
52.5% of capital stack
Construction Loan
$9.7M
18.1% of capital stack
Total LP Equity
$14.9M
95% of equity raise
Ivy Capital is a specialist student housing investor.
$110M+
Capital deployed
7
Assets owned
4
States
1,500
Beds under management
The Bellamy Active asset.
Campus Edge Realized outcome
“Distributing 24% above initial projections to LPs.”
Aesha Mehta Investor Relations
What investors ask before subscribing.
This offering is made under Rule 506(c) of Regulation D and is open exclusively to accredited investors who can verify their status.
Standard minimum is $50,000. Larger commitments are encouraged and reviewed on a case-by-case basis.
The deal is targeted to close on July 6, 2026. The LP raise will close earlier on a first-come basis.
Standard market fees including acquisition, asset management, and a 1.00% disposition fee on gross sales price. Full schedule is in the PPM.
The Crossing at Santa Fe
3205 NW 83 St
Gainesville, FL
Aesha Mehta
Investor Relations
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