Sacramento, California – A real estate investor from Honolulu has made a big purchase in Sacramento that will help them grow their business in California’s student housing industry. Shidler Group has bought Wexler on 65th, a new student housing development near the California State University at Sacramento campus, for $115 million. The Sacramento Business Journal was the first to report on the deal.
The 762-bed property, which contains 223 residential units, costs about $151,000 per bed. The community was sold by a partnership between AECOM-Canyon Partners and The Martin Group. In 2022, the sellers finished building the property. They paid for it with a $73.3 million loan from Banc of California.
Wexler on 65th is at 1500 67th Street, which is close enough to walk to the Sacramento State campus. The property is just four miles from downtown Sacramento, making it easy for students to get to both the college and the city center. Hornet Stadium is about a mile away, while Sacramento McClellan Airport is around 13 miles to the northeast.
There are two residential buildings in the village, each with five or six stories. It has a lot of different sorts of units to satisfy the demands of different students, such as floor layouts with one, two, three, four, or five bedrooms. Units might be as small as 445 square feet or as big as 1,625 square feet. The property has around 8,000 square feet of retail space on-site in addition to residential space.
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The property’s amenities are designed to make life easier for students and make daily tasks easier. There is a swimming pool, a fitness facility, and a coffee bar in the common spaces. There is also a clubhouse, a business center, and a five-story parking garage for residents to use. The neighborhood is pet-friendly and provides charging stations for electric vehicles. This shows that newer student housing complexes are putting more attention on sustainability and modern infrastructure.
The transaction happens at a time when building student housing is slowing down across the country. A Yardi Matrix report on student housing says that around 27,000 beds for students were provided across the country until September of last year. That number was down almost 23% from the over 35,000 beds that were finished in the same time period in 2024.
Looking ahead, developers plan to deliver about 26,500 student housing beds this year, which suggests that new supply will continue to slow down. One of the projects that is planned to open is RISE Oxford Farms, a student housing development in Oxford, Mississippi, with 504 beds. Last February, GTIS Partners and RISE worked together on that project to help students at the University of Mississippi.
With new supply become harder to find, Shidler Group’s purchase shows that investors remain interested in student housing complexes that are well-located and have been built lately near major university campuses.