About the Project
This acquisition adds to our growing footprint near the University of San Diego, and the location speaks for itself: a corner lot just steps from campus, with ocean views that are hard to come by in this neighborhood. It's a setting that plays well to the student housing market while offering the kind of long-term appeal that goes beyond any one tenant base.
The project features a mix of 1-, 2-, and 3-bedroom units, giving us flexibility across a range of renter profiles. Unlike most of our acquisitions, this property came to us with permits already issued a rarity for Ground Zero. While we typically create value by navigating the entitlement process ourselves, the advantage here was clear: immediate construction start, paired with a strong cost basis, made this an easy decision to move on quickly.
