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University Glen The apartment complex has 386 units and houses both students and faculty.

LOS ANGELES—The California State University system is the newest public entity forging public-private real estate partnerships. Kennedy Wilson recently purchased University Glen, a 386-unit student housing apartment complex, and Town Center for $81 million from California State University Channel Islands. The property is on an 80-year ground lease with the University, which developed the partnership as a way to monetize its real estate holdings and support academic growth. This is the largest monetization of a real estate asset in the California State University system, but, with the success of this partnership, it is not likely to be the last.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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