June 27, 2017
Two West Coast student housing properties traded hands for a combined total of more than $146 million. The assets included AVA University District at University of Washington in Seattle, and Fullerton University Village at California State University (pictured) in Fullerton, CA.
CBRE Capital Markets’ Scott Peterson and Bill Chiles arranged a $29-million loan on behalf of Orange County-based Crown Acquisitions, Inc., for the purchase of Fullerton University Village, at 2000-2030 Oxford Ave.
Austin, TX-based American Campus Communities acquired AVA University, at 4535 12th Ave., for reportedly more than $112 million.
Berkadia’s Kevin Larimer, Greg Gonzalez, Kenny Dudunakis, David Sorensen and Ben Johnson handled the sale of the Seattle property, on behalf of Arlington, VA-based Avalon Bay Communities Inc. Berkadia’s Shane Shafer also joined that team on the Fullerton property deal on behalf of the seller, an unnamed local TIC group.
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