Nonprofit uses bonds for $169M student housing deal that puts FIU on path to ownership 

A 1,086-bed student housing building in Sweetwater traded for $168.5 million in a bond-financed deal that sets Florida International University on the path to owning the property.   Jacksonville-based nonprofit Affordable Housing Preservation Corporation, or AHPC, bought the 21-story, 293-unit Lapis at 795 Southwest 110th Avenue from Toll Brothers, according to records and real estate database Vizzda. The sale breaks down to $575,085 per unit.  Toll Brothers and its partners completed development of the building in 2023, records show. Toll Brothers and Global City Development started construction on the building in 2021 with the help of a $103 million construction loan. […]

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