LaSalle Investment Management has acquired 27 North Apartments, a student housing community located in San Jose. The Dinerstein Cos., a national student housing operator, will serve as the property’s operating partner.
Built in 2016, 27 North is a seven-story, class A student housing community situated on approximately 1.1 acres near San Jose State University (SJSU), a leading feeder school for Silicon Valley’s technology industry. The 119-unit, 482-bed property includes two levels of structured parking and offers a mix of two-, three- and four-bedroom apartment layouts. The property is currently 100 percent occupied.
Jeff Shuster, president at LaSalle Value Partners, said, “27 North combines strong in-place cash flow with attractive market dynamics in a location supported by a large and growing student population. We believe active asset management can enhance the property’s performance and support long-term value creation for our investors.”
Joseph P
