Thursday, March 14, 2019

HFF Closes $92.5 Million Sale of Fifty Twenty-Five Student Housing Project Near San Diego State University, San Diego, CA



                                                                                                    Photo by Adrian Tiemens
Fifty Twenty-Five Student Housing Project, San Diego, CA

SAN DIEGO, CA  -– HFF announces it has closed the $92.5 million sale of Fifty Twenty-Five, a 260-unit/942-bed, Class A luxury student housing community serving San Diego State University.

Sean Deasy
HFF marketed the asset exclusively on behalf of FPA Multifamily, LLC, and procured the buyer, Denver-based Cardinal Group Investments, LLC.

Completed in 2010, Fifty Twenty-Five is a LEED Gold-certified property offering a mix of studio, two- and four-bedroom floor plans averaging 951 square feet with amenities, including flat-screen televisions, high-speed internet, modern furnishings, full-size washers and dryers, walk-in closets and fully-equipped kitchens. 

 The community also features a resort-style swimming pool, 24-hour fitness center, study rooms, 24-hour computer center, coffee bar, tanning bed, shuttle service and 598-space parking garage.  The property is situated less than one mile from campus at 5025 Collwood Boulevard.

The HFF team included senior managing director Sean Deasy, senior director Hunter Combs and director Scott Clifton.

Hunter Combs
“The institutional quality of this asset coupled with strong market fundamentals and exceptional enrollment growth at SDSU led to robust activity on Fifty Twenty-Five,” Combs said. 

 “SDSU currently receives more than 98,000 undergraduate and graduate applications per year and represents the third largest university in California, which creates a sustained demand for housing of this caliber.  

"The property’s amenity package is student-tailored and will continue to command top-tier rents in the marketplace.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

About FPA Multifamily, LLC

FPA Multifamily, LLC is a private equity real estate firm focused on the acquisition, renovation and management of both core plus and workforce housing apartment communities. 

Scott Clifton
 Founded in 1985, FPA has owned over 110,000 apartment units valued at over $12 billion. 

 FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VI, which will acquire approximately $1.8 billion of assets, and its core plus focused FPA Core Plus Fund IV, which will acquire approximately $1.4 billion of assets.

  Headquartered in San Francisco, FPA also has offices in Irvine, Portland, Denver, Minneapolis, Dallas and Atlanta.  


CONTACTS:

HUNTER COMBS
CA Lic. #01771662
HFF Senior Director
(858) 812-2346

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403



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