164 East 61st Street
US - New York, NY
€7,746,000 | 5 units
Asset Description
Jones Lang LaSalle, Inc (“JLL”) is pleased to present the opportunity to acquire Wexler (the “Property”), a newly constructed, trophy student housing property located steps from California State University, Sacramento (“CSU” or “Sacramento State”) in Sacramento, California. A tech-savvy community that sets a new standard for purpose-built Student Housing properties nationally, Wexler contains 223-units, 779-beds (expandable to 791-beds) as well as 7,449 square feet of ground floor commercial.
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Attributes
Number of units
223 units
Occupancy
99.00%
Year built
2022
Building area Net
21,192 m²
Land area net
1.13 ha (11,331 m²)
Media
Investment Highlights
- Pedestrian to campus and adjacent to Sacramento Regional Light Rail Station (SacRT)
- Highly amenitized and Tech Savvy property with best-in-market finishes and amenities, including 3,000 SF luxury fitness studio
- Ability to increase revenue by increasing bed count from 779 to 791 and leasing-up the vacant retail space
- Only 29.4% of the full-time students supported by student housing beds
- Sacramento State has an estimated Fall 2022 enrollment of 31,300 students and has increased enrollment 12.1% over the past decade
- Offered at a significant discount to replacement costs in a high barriers to entry market with zero beds in the pipeline
Contact brokers
Wexler Sacramento-Student Housing (0 Properties)
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Last updated
30 Aug 2023
