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.
The transaction reflects LaSalle’s continued deployment of capital and its ability to identify and execute attractive investment opportunities across its portfolio.
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 of LaSalle Value Partners, said, “27 North combines strong in-place cash flow with attractive market dynamics in a location supported by a large and grow
