Shidler Group Pays $115M for Student Community

Honolulu-based Shidler Group has paid $115 million for Wexler on 65th, a 762-bed student housing community in Sacramento, Calif., according to Sacramento Business Journal. The asset traded for about $151,000 per bed.

AECOM-Canyon Partners and The Martin Group sold the 223-unit asset, according to Yardi Matrix information. The duo completed the property in 2022 using funds from a $73.3 million note from Banc of California.

Located at 1500 67th St., within walking distance of the California State University at Sacramento campus, Wexler on 65th is 4 miles from downtown Sacramento. Hornet Stadium is 1 mile away, while Sacramento McClellan Airport is some 13 miles northeast.

The two-building community rises five and six stories. The unit mix consists of one-, two-, three-, four- and five-bedroom floorplans ranging from 445 to 1,625 square feet, as well as almost 8,000 square feet of retail space.

Common-area amenities include a swimming pool, fitness center and coffee bar, as well as a five-story parking garage. The pet-friendly property also has a clubhouse, a business center and EV charging stations.

Less student housing scheduled for completion

About 27,000 beds came online nationally year-to-date through September last year, according to a Yardi Matrix student housing report. This represented a nearly 23 percent decline in student housing construction, dropping from roughly 35,000 beds completed during the same period in 2024. Looking ahead, developers have approximately 26,500 beds slated for delivery this year.

One of the communities set to come online this year is RISE Oxford Farms, a 504-bed student project in Oxford, Miss. Last February, GTIS Partners and RISE teamed up to develop the project serving the University of Mississippi.