PRESS RELEASE

Trophy Student Housing Site Near UC Davis Sold for $3.3 million!

Davis, CA-Sunny Gill, Founder/Managing Director of Habitat Investment Advisors has closed the sale of a rare student housing development opportunity in one of the most sought after student housing markets in the country! The  5.2 Acres of core infill land is just walking distance to UC Davis and Downtown Davis.

After generating interest from thousands of investors nationwide and receiving approximately 100 executed confidentiality agreements, Gill delivered nearly 10 qualified offers . The 5.2 acre property consisting of 11 parcels was sold above list price for $3.3 Million. Highbridge Properties, a real estate investment and development firm that acquires, develops and operates multifamily and student housing properties, purchased the property.

 

“Sunny provided us with invaluable guidance throughout the entire process,” said Paul Gradeff, Managing Director of HighBridge Properties. “His knowledge of and insight into the local market helped solidify our commitment to invest our time and resources in the Davis area.”

According to Highbridge Properties, preliminary plans call for the construction of a mix of three- and five-story residential buildings with 120 to 140 student-purpose-built rental apartment units. The precise number of apartment units is yet to be determined.

The property has special history and had been in the family for over 90 years, since 1925. The ownership consisted of 7 sellers. “This is truly one of the most unique and special transactions that I’ve been a part of given its long and rich history, A+ location and the future potential of the site,” said Gill.

Habitat Investment Advisors, located in Sacramento, CA is a multifamily brokerage and consulting firm.

 

For Further Information Please Contact:

 

Sunny Gill, Founder/Managing Director

Habitat Investment Advisors

Ph: 916.571.5300

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www.habitatadvisors.com