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The Element, a student housing property near Sacramento State University, is the largest completed acquisition to date from investment firm NB Private Capital. The Element, a student housing property near Sacramento State University, is the largest completed acquisition to date from investment firm NB Private Capital.

SACRAMENTO, CA—NB Private Capital has closed on the 792-bed The Element, a student housing property near Sacramento State University in a deal valued at approximately $38.5 million.

The property, built in 2003 and renovated in 2016, was offered as a Delaware Statutory Trust and eligible for 1031 investors. The property was 100% occupied upon syndication with 12-month leases. The initial total offering price was $91.8 million, of which approximately $38.5 million came from investor equity.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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