Twin River Commons student housing community in Downtown Binghamton, NY

BINGHAMTON, NY—Chicago-based real estate investment firm OC Ventures has acquired the 371-bed Twin River Commons student housing community here in a deal that brings its student housing portfolio in Upstate New York to more than 1,280 beds.

The deal, announced by NDG Student Living, which manages the property that caters to students at the State University of New York's Binghamton University, marks OC Ventures third acquisition in Upstate New York in the past year and expands its SUNY student housing footprint.

No financial terms of the transaction were disclosed. NDG Student Living of Vestal, NY was retained as the property manager for Twin River Commons.

In the last year, OC Ventures has acquired Block20 at the University of Buffalo and Block75 at the University of Albany. With a portfolio of 1,282-beds in Upstate New York, OC Ventures is the second-largest off-campus student housing provider in New York State.

“The acquisition of Twin River Commons, a high-quality purpose-built student housing community in the Binghamton University market, further increases OC Venture's presence in the State University of New York system,” says Steve Zhang, CIO of OC Ventures. “All three major flagship SUNY schools in Albany, Binghamton, and Buffalo are experiencing record-breaking freshman classes and total enrollment thanks, in large part, to the state's investment in higher education with their Excelsior Scholarship.”

He adds that with virtually no imminent on- or off-campus development in the pipeline, OC Ventures believes all three Upstate New York assets are positioned to benefit from the improving strength of those respective markets.

Built in 2012, Twin River Commons has large, furnished floor plans, full-size washers/dryers in every unit, modern stainless-steel appliances, and offers cable TV service and high-speed Wi-Fi. The community also boasts a fitness center, study lounges on every floor, a cafe, recreation room, courtyard with outdoor kitchen and free tanning services.

Twin River Commons is the only purpose-built student housing property in Downtown Binghamton.

“Twin River Commons has long been the premier choice for students at Binghamton University,” says Jerry Wojenski, CEO of NDG Student Living. “OC has truly acquired a gem of a property.”

Instant Insights /

Chicago Investment Firm Makes Third Upstate NY Student Housing Purchase

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