Chance Partners and The Carlyle Group Break Ground on Mixed-Use Development at Florida State University

TALLAHASSEE, Fla., June 28, 2012 /PRNewswire/ -- Chance Partners, LLC and The Carlyle Group today held a groundbreaking ceremony in conjunction with the Community Redevelopment Agency of the City of Tallahassee for Catalyst, a mixed-use development near Florida State University.  The project will include approximately 3,500 square feet of ground floor retail and a 130-unit student housing project that is scheduled for initial occupancy for the Fall 2013 semester. This is the first joint-venture between the two companies.

The two firms formed their partnership out of their shared vision for the student-housing sector, according to Judd Bobilin of Chance Partners. "Students in Tallahassee will be the first to experience a truly walkable, world-class community that will be noted for its creativity, quality and impact on the revitalization of the Southgate District," Bobilin added.  

The Community Redevelopment Agency will make a significant contribution to the Project that will strengthen the desirability to live, work and shop in the district.  "Catalyst, in conjunction with our efforts at the College Town project, will create the vibrant urban environment envisioned by our Gaines Street Project for this area," said Michael Parker, Executive Director, Community Redevelopment Agency of the City of Tallahassee. 

"We are pleased to team with Chance Partners, which has a successful track record in the Southgate District adjacent to Florida State University. This development is perfectly suited for the Tallahassee market," said Brian Nelsen, Principal at The Carlyle Group. 

Catalyst will feature 402 beds with a mix of unit types from 1 bedroom up to 4 bedroom units.  Each unit type will offer private bathrooms for every bedroom; gourmet kitchens, expansive living areas; hardwood-style flooring; ample closet space and full-size washers and dryers.  This student housing community will have a full suite of premium amenities including a large clubhouse, pool, roofdeck, multiple study lounges and a fitness center.

Community & Southern Bank is providing the construction financing and Hathaway Construction is the project general contractor for the project.  Catalyst will be managed by Asset Campus Housing, Inc. and more information can be found at www.catalystfsu.com.

About Chance Partners, LLC
Chance Partners is a fully integrated real estate firm specializing in the development of high-quality multifamily and student housing communities catering to those that seek the ultimate amenities; location, quality and value. Backed by a deep understanding of the markets, a commitment to excellence and an unmatched track record of success, Chance Partners is redefining the intown living experience, one building at a time.  Headquartered in Atlanta, GA, Chance Partners has won numerous national awards for its developments and prides itself on developing communities that intertwine into their surroundings.  Learn more at www.Chance-Partners.com 

About The Carlyle Group
The Carlyle Group is a global alternative asset manager with $159 billion of assets under management in 94 active funds and 63 fund of funds vehicles as of March 31, 2012. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has developed expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,300 people in 32 offices across six continents. www.carlyle.com.

SOURCE Chance Partners, LLC