General News
Dec. 28, 2016
SDSU Student housing complex sells for $82.7 million
The 321-unit, 771-bed Sterling Alvarado student housing complex is at 6625 Alvarado Road at the northeast side the San Diego State University campus.
The 321-unit, 771-bed Sterling Alvarado student housing complex at 6625 Alvarado Road at the northeast side the San Diego State University campus, sold for $82.7 million or $257,633 per unit.
The property was purchased by Gateway Sterling LLC, a unit of Chicago-based Heitman Capital Management and New York City-based Campus Evolution LLC.
The buyers took out a $49.1 million Massachusetts Mutual Life Insurance Co. loan to finance the acquisition of the asset.
The ...
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