JV to Open Sacramento Student Housing
GMH Capital Partners and AGC Equity Partners are developing The Academy on 65th, which will serve students at California State University. The 305-bed community will feature bike storage, covered parking and a motion studio.
GMH Capital Partners LP in partnership with AGC Equity Partners will develop The Academy on 65th in Sacramento, Calif. The 305-bed student housing community will be serving students attending the California State University, Sacramento. GMH University Housing will manage the asset scheduled to open in August 2019.
The companies recently acquired a property located at 1325 65th St. for this project. The new community will be close to the Hornet Crossing entrance, a pedestrian and bike trail leading to campus. Additionally, various dining, shopping and entertainment venues such as Hornet Stadium, Office Depot, Anytime Fitness and Giovanni’s Old World New York Pizzeria are nearby.
The Academy on 65th, named similarly to other GMH student housing communities, is set to offer in-unit amenities such as flat screen TV, quartz counter tops, stainless steel energy-efficient appliances, in-unit washer and dryer, and hardwood-style flooring. Common area amenities will include:
- fitness center
- game room
- motion studio
- study rooms
- bike storage
- covered parking
- grilling stations
- hot tub
The Sacramento development is slated for completion in August 2019. GMH plans to acquire and develop more core and value-add student housing properties in partnership with AGC.
Rendering courtesy of GMH Capital Partners LP