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Champion Real Estate Company has purchased the firm’s first student housing property in San Diego, acquiring a former fraternity house on Lindo Paseo near San Diego State University for $13 million.
The company will rebrand the property as Victory at SDSU, and is preparing drawings to secure a building permit for construction of a 225-bed student housing project. The completed facility will feature a study center, recreation center, pool and roof decks and will be leased by the bed offering fully furnished rooms.
“The San Diego student population has continued to grow as life science and technology firms expand into the area and with STEM labor in more demand,” said Champion’s Executive VP Garrett Champion. “Our goal is to develop a property that provides a ‘Class-A’ living experience to students seeking the San Diego lifestyle.”
JLL’s Stewart Hayes represented Champion and the seller in the transaction.
Inside The Story
About Mark Nieto
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.