Investments
Statesboro, GA

Project Type: 339-unit/1087-bed Student Housing Acquisition

Investment Value:

Current Status: The property is 99% occupied as of August 2020

Target school: Georgia Southern University

Investment Highlights:

  • Since 2015 the market has a minimal on-campus and off-campus housing supply, two of GSU residence halls were closed for maintenance reasons
  • The cottage and townhome style community features 339 units and 1087 beds, each unit offers a bed to bath parity.
  • The property is well-maintained but the clubhouse and amenity area have strong value-added potential. As part of the value-add business plan, the limited capital improvements will be implemented during the summer, which will not affect the occupancy of the property
Logan, UT

Project Type: 72-unit/368-bed Purpose-Built Student Housing Development

Investment Value: $32.8MM

Current Status: Construction Started in Spring 2019

Target school: Utah State University

Investment Highlights:

  • Located better than on-campus housing, 800 Block offers proximity to all the best aspects of everyday life at Utah State University.
  • A $30MM brand new Aggie Recreation Center is directly across the street.
  • Only 3,069 or 18.9% of undergraduate students in Logan campus can be accommodated in college housing.
Sacramento, CA

Project Type: 225-unit/750-bed Purpose-Built Student Housing Development

Investment Value: $75.5MM

Current Status: Project was stabilized upon construction completion in summer 2018 and was sold in 2019

Target school: Housing Development servicing California State University, Sacramento (CSUS)

Investment Highlights:

  • Best location in the market with only 0.2-mile/3-minute walking distance to the south edge of target school CSUS
  • Limited housing supply but extremely strong demand; no other construction is planned in the area.
  • Best-in-the-market amenities highly desired by students
San Jose, CA

Project Type: 551-unit Multifamily and 37,500 sf Retail Development

Investment Value: $300MM

Current Status: Construction started in 2017Q3 and will be completed in 2020Q3; Leasing has started in October 2019

Investment Highlights:

  • Land acquisition was closed in April 2017. Construction started in 2017Q3 and is expected to complete in 2020Q1.
  • San Jose boasts consistent high job growth and strong rental market with one of the highest affordability gap between the cost of home ownership and renting in the nation.
Brea, CA

Project Type: 206-unit Multifamily Development

Investment Value: $75MM

Current Status: The project was recapitalized in 2019 and will be held for long term

Investment Highlights:

  • Well-amenitized area with convenient highway access to major employment center in Los Angeles and Orange County
  • One of the best school district in the area
  • High barriers to entry due to Brea’s limited supply of available land for development and extremely difficult entitlement
  • Highly skilled affluent demographics