SACRAMENTO, CA - GMH Capital Partners of Newtown Square, PA and AGC Equity Partners of London, United Kingdom announced the acquisition of a strategically located property in Sacramento, CA. The Partnership will develop a state-of-the-art student housing community serving California State University - Sacramento. The development will be named "The Academy on 65th" and will feature a first class amenity package for 305 students. The Academy on 65th is scheduled to open in August of 2019.
The plan for the community includes a vibrant design that enhances its ideal location for California State University - Sacramento students. The main entrance will be situated along 65th street, steps away from the Hornet Crossing entrance, a pedestrian and bike trail leading directly to campus.
The upscale fully-furnished apartments will be complimented by a large selection of amenities including a fitness center, game room, motion studio, ample study space including private rooms, bike storage, covered parking, an outdoor courtyard including grilling stations, a large hot tub, games and more. Each unit will include a flat screen TV, quartz counter tops, stainless steel energy-efficient appliances, in-unit washer and dryer and hardwood-style flooring.
"GMH feels this is a perfect opportunity to develop a Core property in a market that has yet to see Class A pedestrian properties," stated Gary M. Holloway Jr., President of GMH. "The Academy on 65th will be a great new addition to our Ultra-Core student housing portfolio," finished Mr. Holloway Jr.
GMH most recently announced their new Partnership with AGC Equity Partners to acquire and develop Core and Value-Add student housing properties. GMH University Housing will be managing The Academy on 65th and leasing is set to begin in August 2018.