The building is situated on 1.8 acres and features ground-floor retail stores and a heated underground parking structure. At nearly $70,000 per bed, the deal represents one of the highest prices paid per bed in the US, says Herb Chase, managing director of Colliers Seeley International's West Los Angeles office. The seller was AIG Global Real Estate.
The high price "speaks to the quality and location of the property and the increasing demand for student housing in major US cities," Chase says. Chase, Curtis Palmer and Alex Quintana, represented both the buyer and the seller in the deal.
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