JV Acquires 371-Bed NY Student Housing Asset
- Feb 19, 2019
NDG Student Living, together with OC Ventures, has acquired Twin River Commons, a 371-bed student housing community in Binghamton, N.Y. NDG manages the asset.
Located at 45 Washington St., the property serves students at Binghamton University, situated approximately 3.5 miles away. Various shopping, dining and entertainment venues including Floyd L. Maines Veterans Memorial Arena, Columbus Park, Weis Markets, Dunkin’ Donuts and Walgreens are nearby.
Built in 2012, the pet-friendly community features a mix of one-, two-, three- and four-bedroom units with amenities including built-in closets, private bathrooms, fully equipped kitchens, washer/dryer, stainless steel appliances and central air. Common-area amenities include:
- outdoor kitchen
- patio seating
- genius lab
- study lounges
- clubhouse with fireplace lounge
- 24-hour fitness center
- free Wi-Fi
“The acquisition of Twin River Commons, a high-quality purpose-built student housing community in the Binghamton University market, further increases OC Venture’s presence in the State University of New York (SUNY) system,” Steve Zhang, CIO of OC Ventures, said in a prepared statement. “All three major flagship SUNY schools in Albany, Binghamton, and Buffalo are experiencing record-breaking freshman classes and total enrollment thanks, in large part, to the state’s investment in higher education with their Excelsior Scholarship.”
The transaction marks OC’s third student housing purchase at a SUNY school. The deal comes after the company acquired Twenty 91 North, a 192-unit student housing community in Amherst, N.Y.
Image via Google Street View