Bridge Partners Acquires Student Housing Property at UC Davis
Bridge Partners, a real estate investment company headquartered near San Francisco, recently acquired Oakshade Commons, a 108-bed student housing mixed-use community near UC Davis. The 2001-built Class A complex was originally mapped with condominium specifications including luxury-grade finishes and exceedingly large floor plans averaging 1,950 square feet. Interior features include granite counter tops, GE stainless steel appliances, designer hardwood flooring and plush carpeting in the bedrooms, The property is located at the corner of Cowell Blvd. and Valdora St., directly adjacent to the Safeway-anchored shopping center in south Davis.
Bridge Partners completed the transaction at the original contracted price using financing from Chase Bank within 13 business days from contract to close of escrow. The asset management team plans to stabilize the project’s commercial components as well as execute a value add investment strategy with the asset. The closing of Oakshade Commons comes just one-month after the closing of Espana East Apartments, a 30-unit market rate apartment community in Sacramento, CA. The firm is actively seeking additional new investments that fit within its value add or other business plans, as indicated by the acquisition criteria shown to the left.
Founded in 1990, Bridge Partners specializes in the acquisition, renovation, and management of multifamily and hospitality properties nationwide. In the course of its history, Bridge Partners has completed over 200 transactions across 17 states and 50 domestic markets. Its existing portfolio features 7,000 units throughout 13 states.