The project will be located on the southeast edge of the SF State campus and is expected to be completed in 2020. The 584-bed, mixed-use community will feature fully furnished apartment-style units with private and shared accommodations.

The Woodbury, MN-headquartered company says the expansion will nearly double its current presence in the state.

The firm reports two speculative buildings comprise the final phase of a larger plan to build three buildings at its CLT Logistics Center.

Matthew Whelan, SVP of AvalonBay Communities, said at the IDA session that the company plans to break ground on the project in March 2019.

The firm, which issued multiple significant ownership and leasing announcements at properties in Manhattan, also released today sweeping redevelopment plans for its One Madison Ave. office building next to Madison Square Park.

The acquisition of the 24-story, 522-000-square-foot downtown office building is the second purchase by TMG and KKR in Oakland this year.

Beverly Hills, CA-based Kennedy Wilson invested $20 million of equity in Alpine Meadows with a corresponding 10-year, $29 million loan at 4.28%.

Following the completed spin-off, BGC Partners no longer held any shares of Newmark.