California universities continue to scoop up student housing campuses to cope with a severe shortage of dorm space.
In the latest acquisition, Chapman University is paying $160M to acquire the Anavia Apartments, a campus located at 2045 S. State College Boulevard, in an Anaheim neighborhood known as the Platinum Triangle.
The private university, based in Orange, has issued 30-year bonds to purchase the five-story building, which will be renamed Chapman Court. Tenants currently occupying the building will need to relocate to make way for the 800 students the school intends to house in the building, according to reports.
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