CBRE Arranges Sale of 174-Bed Luxury Student Housing Community at California State University, Chico

Chico, Calif. – Jan. 21, 2020 – CBRE announces the sale of Campus Walk, a 174-bed, 46-unit luxury student housing community in Chico, California. Completed Fall of 2018, the new construction student housing complex is adjacent to California State University, Chico and 100% occupied for the 2019/2020 school year. California-based NB Private Capital purchased the asset from Dallas-based Fountain Residential Partners for an undisclosed price.

Jaclyn Fitts, William Vonderfecht and Casey Schaefer with CBRE’s National Student Housing practice along with Marc Ross in CBRE’s Sacramento office arranged the transaction on behalf of Fountain Residential Partners.

“Campus Walk offered investors the opportunity to acquire a campus-adjacent, boutique student housing property in a growing student housing market with strong fundamentals,” said Mr. Schaefer, First Vice President at CBRE. “Being the closest to campus by-the-bed asset in the market, paired with the university’s projected growth, resulted in a very attractive offering to investors.”

Located directly west of Chico State on Nord Avenue, Campus Walk provides residents quick access to both the university and dozens of restaurant and bars. The property boasts the best-in-market interiors, including marble-style counters, stainless-steel appliances, wood-style flooring, 55-inch flat screen TVs and queen-size pillowtop mattresses. Community amenities include a large swimming pool, an outdoor jumbo movie screen and fitness center, rivaling amenities found in much larger properties.