California

CLS-StateSide

San Diego — Campus Life & Style has been awarded management of two student housing communities located near San Diego State University. The properties — dubbed StateSide and Monte — are currently under construction by Next Space Development, and will offer a total of 315 beds upon completion. StateSide is expected for completion in August and will offer a mix of two-, three- and four-bedroom units with double-occupancy options available. Amenities at the property will include a fifth floor sky lounge, study spaces, a community kitchen and outdoor lounge space. Monte …

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Los Angeles — Champion Real Estate Co. has received a $16.1 million refinancing for Victory on Portland, a 139-bed student housing community located at 2353 Portland St. near the University of Southern California campus in Los Angeles. The company, which purchased the property in March 2020 for $14.1 million, secured the long-term, fixed-rate financing through Wintrust Bank. Champion renovated the community by upgrading mechanical systems; renovating interior units; enhancing curb appeal; increasing the amenity package; and rebranding the property. The company also added eight units, totaling 37 beds, to the …

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Topaz

San Diego — Construction is underway on TOPAZ, a 169-bed student housing development located adjacent to the San Diego State University campus. The project is being developed by Pierce Education Properties in a joint venture with an undisclosed entity. The community will offer 53 units in one- to four-bedroom configurations with bed-to-bath parity. Select units will offer upgrades, including two ‘penthouse’ units on the upper level, which will feature balconies and 70-inch smart televisions; and four units will include a billiards table in the common area along with a large …

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Anaheim, Calif. — Berkadia Institutional Solutions has arranged the sale of Anavia, an apartment community in Anaheim’s Platinum Triangle area. Essex sold the asset to Chapman University for an undisclosed price. Tom Moran of Berkadia Irvine handled the off-market transaction. Originally built as a for-sale condominium project, Anavia features 250-units/550 beds with an average unit size of 1,249 square feet. The buyer plans to convert the property into student housing.

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2538-Durant-Ave

Berkeley, Calif. — Valiance Capital has acquired a development site at 2538 Durant Ave. near the University of California, Berkeley, campus. The company plans to replace an existing 12-unit apartment building on the site with an eight-story community offering 270 beds across 83 units. The development is also set to include 5,000 square feet of ground floor retail space. Jeffrey Eliason and Leland Ortega of Highland Realty Capital arranged $10.5 million in acquisition and pre-development funding on behalf of Valiance. Chris Hetzel of ACRES’ Philadelphia office originated the loan. “2538 …

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2190-Shattuck

Berkeley, Calif. — Landmark Properties has announced plans to develop a community near the University of California, Berkeley. The development will be located at 2190 Shattuck Ave. within Berkeley’s restaurant district, and is set to serve students attending the university, as well as faculty and staff. The project will offer units in studio to five-bedroom configurations, with 10 percent of available units designated as affordable housing. Each unit will be fully furnished, and most will offer bed-to-bath parity. Shared amenities are set to include a 7,000-square-foot rooftop deck, dog park, …

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Newark, Calif. — A public-private partnership between Gilbane Development Co. and Ohlone College have announced plans for a 400-bed residence hall project. The development will be located within the Ohlone Community College District in Newark and is set to be priced affordably.  Potential project features could include a childcare center for student parents, to be operated by a third-party service provider; options for accessibility of food in proximity to the community; and space for student counseling services. The partnership is set to break ground on the development next year with …

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Hub-Fullerton

Fullerton, Calif. — Core Spaces is planning to develop Hub Fullerton, a 1,047-bed student housing project near California State University – Fullerton.  Groundbreaking on the development is scheduled for later this year. The project is being designed by DLR Group and will serve students attending Hope International University and Pacific Christian College, in addition to those at CSU Fullerton. The six-story building will offer shared amenities including a rooftop deck, swimming pool, hot tub, work spaces, a yoga and fitness center, spa and resident lounge space. The development will also …

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sdsu-redevelopment-teaser

San Diego — JLL Capital Markets has arranged the $12.7 million sale of a 0.35-acre development site located adjacent to the San Diego State University campus in California. Situated at 5505 Lindo Paseo, the site is currently home to a fraternity house and is suitable for a dense, vertical development, according to JLL. Stewart Hayes, Scott Clifton, Teddy Leatherman, Kevin Kazlow and Jack Goldberger of JLL represented the sellers, Amplify Development Company and Blue Vista Capital Management, in the disposition. An affiliate of Champion Real Estate Company acquired the property. 

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Claudia-Powers

Beverly Hills, Calif. — Nimes Real Estate has hired Claudia Powers as managing director of asset management. In her new role, Powers will oversee asset management of the Beverly Hills, California-based company’s portfolio, which includes properties in Houston, Texas; Dallas; San Antonio, Texas; Atlanta; Tampa, Florida; Santa Barbara, California; and Knoxville, Tennessee. Prior to joining Nimes, Powers worked as director of asset management with Greystar. 

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