Akara Partners Secures Financing for 305-Bed SDSU Student Housing
Akara Partners and Deven Group have closed financing on a Class A student housing project near San Diego State University, set to open in 2028.
Akara Partners and Deven Group have finalized financing for a 305-bed Class A student housing development adjacent to San Diego State University, the firms announced Thursday. The project, located at 5077 College Avenue in San Diego, is designed as a transit-oriented development positioned within close proximity to the SDSU campus core.
The development is scheduled for delivery ahead of the 2028–29 academic year, filling what the partners see as persistent demand for purpose-built, high-quality student housing near one of California's largest public universities. Akara Partners operates as a vertically integrated real estate firm, handling investment, development, and property operations under one platform.
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Transit-oriented student housing projects have drawn increased developer interest in recent years as universities face mounting pressure to expand off-campus housing options without adding to vehicle congestion. The College Avenue site's proximity to public transit infrastructure aligns with broader urban planning priorities in San Diego.
The financial terms of the transaction were not disclosed. Once delivered, the property would add meaningful bed capacity to a housing market that serves tens of thousands of SDSU students competing for limited rental inventory near campus.
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